19 land purchase process
Post on 04-Jul-2015
340 Views
Preview:
DESCRIPTION
TRANSCRIPT
LAND PURCHASE PROCESS
• IDENTIFY THE LAND PARCEL
• CONFIRM LAND USE ZONE
• PREPARE TERMSHEET
• PAY TOKEN ADVANCE
• ENTER AGREEMENT FOR SALE WITH ALL TERMS AND CONDITIONS FOR THE DUE PERFORMANCE
• PAYMENT OF EARNEST MONEY• FORFEITURE OF EARNEST MONEY
• TIME PERIOD 9-12 months• TIME IS THE ESSENCE OF THE CONTRACT
• CONDUCT DUE DILIGENCE THROUGH LEARNED ADVOCATES AND SOLICITORS
• SEND REQUISITIONS
• CURING OF DEFECTS/ENCUMBRANCES IN THE PROPERTY
• IF THE PROPERTY IS NOT CLEAR, VALID AND MARKETABLE-
• PURCHASE SUBJECT TO ENCUMBRANCES• OR• TERMINATE THE CONTRACT
• COMPLETION PAYMENT AS PER THE AGREED TERMS
• GET SALE PERMISSIONS• N.A. PERMISSIONS
• CONSENT OF THE CONCERNED PARTIES
• EXECUTE SALE DEED/CONVEYANCE DEED
PAYMENT OF STAMP DUTY
REGISTRATION OF THE EXECUTED DEED
MUTATION OF THE PROPERTY
BREACH OF CONTRACT
SUIT FOR SPECIFIC PERFORMANCESUIT FOR INJUNCTIONSUIT FOR DAMAGES
• BEST OF LUCK
top related