Hi All
I have been follwing this forum for quite some time and have found very useful information. I wanted a specific help on one issue. I am exploring purchase of a flat which is under construction (90% complete) . This flat is an investor flat where investor has an Agreement for Sale (Rs 100 stamp duty) with builder. In this transaction, final title transfer will happen between builder and me while I need to pay the price to investor. Since my source of fund is a bank loan, bank needs to disburse the loan amount to investor. Bank has suggested that we need to have a tripartite agreement involving builder, investor & me in this case. Has any of you seen/been involved in such a transaction? Are such transactions common? How does it work? Does anybody have sample format of such an agreement? Any suggestion/information in this matter will be very useful. Thanks in advance!
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