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Need Help !

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Need Help !

Last updated: July 15 2009
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  • Need Help !

    Here is the situation I am in -

    - Had booked a flat on 26/6 by giving the builder a posted dated cheque dated 13/7 (project is almost 75-80% complete)
    - Builder calls me on 13th to ask if he can deposit the cheque and suggest that we should sign the agreement asap. The reason being I cannot apply for loan until the agreement is signed and he is in need of funds.
    - Unfortunately, I am traveling out of India coming Friday( for just 15 days), don't feel comfortable proceeding the agreement before I get it checked thoroughly. Also, I need more time for shopping around for different loan products (after all its a life time decision .. this means (I propose) that we sign the agreement after i come back in aug.
    - He is not ready since it delays his funds, he has another customer who is willing to buy the flat and is ready to give me a refund for all the amount I have paid.
    - Another point - if I sign the agreement this week and do not take the loan disbursement by July 31st, he can charge me interest on the due amount at the rate of 24% per annum - another reason why I dont want to sign the agreement before I come back.

    what do you guys suggest ?
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