Very emergency sir

Dear sir, We are planning to buy auction property. Actually in 2012, x-buyer bought the property for 64 lacs and paid only 54 lacs to builder. Still 10lacs is due for builder. But Bank has disbursed the full loan amount 46lacs to builder. Since the x-buyer is default to bank, this property is in auction sale. Now we approached the builder also and they said that with interest 20 lacs is due for this property. At least they said to pay the actual due amount of 10lac. Builder is very big company. But bank clearly said that as per third party agreement we will not settle any single amount to the builder. When i refer the documents, in builder agreement, dispute resolution is passed. In that resolution, stated that all disputes arising out of or in connection with this agreement shall be resolved by mutual discussions between the parties, failing which such disputes shall be referred to Arbitration by two Arbitrators, one to be appointed by each party. The Arbitration shall appoint an umpire before entering upon the reference. Now my query is, when I buy this property through auction sale, after buying is there any possibility of builder to claim the due amount from me......................? Please clarify sir. Since you have handled many arbitration cases, I am more awaiting for your valuable reply. After your reply only, i can proceed to buy this property. So mail me please sir. mail id: [deleted] Contact no: [deleted]