When should the payment of a resale flat be done, before or after registration?

 Either before or after, but payment mode should be Banker's cheque or DD.

Avoid cash and individual cheque.

If buyer opts for home loan, bank representatives present in sub-registrar office at the time of sale deed registration. Bank representative handover the Cheque or DD as soon as registered sale deed handover to bank’s representative. (It means payment is made after registration. )

If self-finance, payment made immediately either before or after sale deed registration. prefer DD and avoid cheque.

It's important to mention DD number in sale deed so that you can establish the evidence in court if any unrecovered dues or failed to deliver the possession.

In general, the payment terms for resale property is as follows

  1. Token payment: which could be Rs. 10K -50K
  2. 5%-20% of consideration value at the time of sale agreement signing (For example buying price is Rs. 50 lakh, the payment could be Rs. 2.5 - 10 Lakh)
  3. Before scheduling the sale deed registration, buyer should show Bank’s cheque or DD of considerable value to seller.
  4. Make payment in sub-registrar office (either before or after registration)
  5. Seller handover all the property documents and property key to buyer.

This completes the payment process.

The payment terms are mutually decided by seller and buyer. Before the sale proceeding, payment terms are planned and mention in sale agreement which includes numbers of payment, date, and amount.

We provide end-to-end assistance to execute sale agreement drafting + execution + franking + home delivered in 3 working days.

To opt for our service, please write to us pgnproperties@gmail.com or Whatsapp to +91-97424 79020.

Thank you for reading….

Location: India

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