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procedure to Buy a flat from first party

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procedure to Buy a flat from first party

Last updated: November 22 2012
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  • procedure to Buy a flat from first party

    Hi sir,
    We are planning to buy a flat from first party(resale) in KDP Grand Savanna, Rajnagar Ext, Ghaziabad,U.P We will take loan from SBI bank can you guys please explain me the right procedure to buy a flat from first party with the help of information below.


    *Kdp – Builder
    * First Party – Seller
    * Second Party – Buyer


    1. First party has paid all the amount of KDP (Builder).
    2. First party had a loan from HDFC that he had paid and he has the NOC from bank as well.
    3. First party don’t have registry of this flat so right now flat is under hand of KDP (Builder), right?
    4. We (Buyer) want to take loan from SBI bank but Bank says that Builder will give you a Tripartite agreement Or Allotment paper in your name.
    5. To transfer the papers in our name will KDP charge something from First buyer?


    After getting the allotment paper in buyer’s name can bank senction the loan? Bank will give the check to which party? Builder or Seller?


    please explain us in details so that we can buy a flat in this society, our 2 more relatives wants to have flat in same location but due to the confusion in deal they are still thinking about it.


    Thanks
    Kanika Gupta
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