Mumbai | 17 Apr, 2022 (11 months, 2 weeks ago)

Property Law

Sale of my flat

I am selling my flat which is in Mumbai. the purchaser is taking loan from a bank, they will be paying the full and final payment after registration and i have incorporated a clause in the agreement that if payment is not made then the agreement remains cancelled. The reason bank is not ready to pay me at the time of registration is because my society is not giving NOC which is bank's requirement, Society said that they will give after the registration. My question is that is it safe and normal to go ahead with the registration and get the payment later and also wanted to know if Society NOC is important for banks to release the final payment to the seller?
18 Apr, 2022 | 12:37

Advisable to take society NoC prior to registration because if society doesn't give NoC it will be issue. Anyhow under any scenario you are suggested to get your agreement reviewed prior to execution of registration. Thank you.
If you have found the answer helpful than kindly provide review.
Adv Vaidehi Samant

17 Apr, 2022 | 17:57

All ready I answered your question
If you want legal advise then you can call me

Asker 17 Apr, 2022 | 18:12

Thanks a lot for your response, i did try convincing the society but they are not ready to give NOC and bank can disburse the amount after registration. So wanted to understand if it is safe to go ahead or should i cancel the deal?


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