The Supreme Court also reaffirmed the importance of the contract of sale between the owner and the purchaser, since it recently decided that the period of awarding a dwelling unit to a home buyer should be taken into account from the date of the owner-buyer agreement and not from the date of registration of the project under the Real Estate Act (regulation and development). , 2016. The court also ordered the rera authorities to order the payment of compensation by the contractor, in accordance with the sales contract whose unsealability was upheld by this decision. I have listed five important clauses that must be included in the sales contract. These go beyond the standard sales contract clauses. It is always advisable to hire a good real estate lawyer to design Sale Agreement – Absolute Sale Deed. If you need a specific entry of my end to these clauses, you can publish your query via the next section of the comment. Although the signing of the sale agreement does not mean that the sale has been completed, it is a decisive step in that direction. For this reason, buyers must be fully aware of the terms and conditions set out in the agreement. The clauses of a sales contract are important because they will infer anything that will make it a successful transaction that is perfectly correct legally. The contract will tell you whether the payment should be made in cash, in part or a payment agreement has been partially agreed in the future.
12. This No. 1 party also exercised a general power over the said dwelling to conclude the sale after the registration of the dwelling mentioned for the benefit or benefit of its candidate. If the seller does not sell or return the property to the buyer, the buyer is entitled to a special benefit in accordance with the provisions of the Specific Relief Act of 1963. A similar right is available to the seller as part of the agreement to require a certain benefit from the buyer. Property Sale Agreement is the most important document. It is different from Sale Deed, although in some cases the sale agreement is registered as a sale of deed. The sales contract contains terms and conditions agreed between the seller and the buyer for the sale of real estate. It is legally binding on both parties. The date on which the booking is completed is also indicated.
For lay people, the sales contract is a roadmap for the real estate transaction.