I am selling a 3BHK apartment at wakad and need some help. The buyer wishes to go for a bank loan and has said that he will pay some 40% at the time of agreement and rest will be disbursed by bank after some time. Accordingly the same will be mentioned in the agreement.

My query is :
1)Once a agreement is done he is the legal owner. Even if it is mentioned in the agreement that he has to pay the balance 60% within one month, if he doesnt pay does the agreement gets cancelled or what happens.
2) Is it safe to do this kind of transaction.

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