Resale Procedure Please Help
There are so many doubts as to the resale procedure as there is not fixed step wise instruction as to the procedure, even i have a few doubts:
1. Usually a First Buyer pays 5% or 10% to the developer and gets the unit registered in his name. So in the developers list it will be the First Buyer who will be registered (If I am not getting it wrong)
2. For example if the First Buyer wants to sell at a premium, this is where things are unclear, will the second buyer who is buying from the first buyer get his name in the register? why does a developer charge transfer fees of 2% or etc? is the developer legally allowed to charge??? as it is no sale and purchase agreement would have been drawn up or signed by then... As most developer will draw up a sale and purchase agreement only after 20% to 30% depending on the developers...
3. In this case what happens the sale from 1st buyer to the 2nd buyer happens only on paper.
I would appreciate if any of the more experienced people on the forum and experts would put in a step wise flow chart kind of message which shows how exactly the resale procedure takes place....
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