Yup i found one too. I was interested in buying a plot. I asked the dealer to verify the plot from society before entering any deal. He was forcing me to enter the deal as if i miss this opportunity again i wont get it back. He asked me to make POs in the name of seller. I didnt and asked to verify the file first, then make agreement on stamp paper and then want to meet him personally then i will issue POs. Anyhow in short the seller was greedy as he wanted more money and later cancelled the deal on the basis that i wasted his time and did not issue the POs on his name.
That is the main issue...Because they do not want to share seller's information.Normally they use the term"Seller is my bro or friend and he has given me full control to deal with this plot"
But its totally wrong.They tell wrong plot # and when buyer take it seriously then they simply says Plot # is changed but this plot quite same as previous...
Greed is curse. …if you could control your inner animal no body else on earth could harm you
Yup i agree with Sohail Abbas bhai check with many dealers and especially verify from society office as in societies there is this issue of development charges and penalties and one can know if verified how much is it.
Kya fraud hoa khull kr btaein
Mein dha phase 6 plot dubai mein bethy we property dealer ke zariya buy kya or aj waha ghr bna rha hoon .
ek plot apny baety ke lya awt phase 2 ek kanal lai chuka hoon mjy waha lana mein koi pblm nahe hoi dealer se srf army military related societies mein plot lain to jin ke society office fraud nahe hony daity .
sui gas ka keh nahe skta .
property dealer sb taez hoty 1% fraud hoty 99% games krty hain thora paisa bnany ke lya ap nai apny budget mein laina hota jo sahe price de bss main cheez ke apny name plot transfer kr ke payment krain . Baqi koi kuj paisay xiada bny ya km Allah ko jawab de ga . Axhy bndo ki pechan krain or market mein 2 3 se price lain na km se lain na xiada se .
mein dha he lana chahta tha apny baety ke lya awt phase 2 ka standard utna nahe but mjy bhe fraud hoa woh kse property dealer nai nahe blky mere apny sis k khawand nai dya or ami abu bhae ko bhe sb kuj pta hone pe bhe nahe btaya gya . Wrna aj woh plot 2 crore ka tha . Meri sari umer mehnat ki bxht kha gai.
dha mein ghr or ek awt plot is se behter krna chaye tha apni ulad ke lya agr ghr wala dhoka na daita.
army societies mein lai or aqalmandi se koi apke sth hath nahe krta musbat sochain . Koi fraud ho gaya ho to qanoon ke madad lain or next time army societies pe trust krain.
Can it happen that after transfer of the plot. The purchaser cancels the Pay order in the name of seller? If so how to counter that as Biana is with the purchaser?
When ever you sold or purchase any property you must visit personally the property never deal on call only for the saving side
Call bank to confirmed pay order , once done money is in bank account on your name until u do not submitted pay order into your bank or not returned to original owner to cancel it .
You can verify the pay order from bank but its better to verify the same day before transfer like 15-30 minutes before. After transfer there can be serious problems all depends upon your agreement. Usually not the one you submit to the society (if you added in less MV to save tax) but the personal one. Read the terms carefully.
for example person A buys a plot from person B on bayana and person A sells to other party person C on profit. If the terms of the agreement says person A "will be liable to complete the purchase requisition or to any of his representative" then its fine but if it says "person A is liable for ownership of plot on transfer" then only he can transfer in his name and cannot sell to person C on profit.
These small mistakes, whether intentional or unintentional, can cause problems later so i think the Sales Agreement is the 1st most important thing to consider
I never heard PO getting cancelled after transfer and usually before or during transfer the seller gets hold of the original PO and in order to cancel the original must be presented in the respective bank.
always make stamp agreement for bayana to avoid future complications like one can put in clause that the seller once taken bayana cannot back off from the agreement, that he cannot cancel the terms of agreement or return double of bayana but will execute the transfer only.
he is then bound to transfer and can be dragged to court if he refuses.
Is Biana Agreement and Sale Agreement same in tranfer in coperative housing society?
And does the seller get the PO before transfer or after it ? In societies like Bahria Town As they are not involved in Payment matters?
Bayana agreement is not the same as sale agreement. Bayana is a promise to bound one to sell or buy a plot or house in the future. A sale agreement can be done without a bayana agreement if transfer is to done next day or within a week. Usually token money is more suitable in urgent transfers.
PO getting before or after transfer is upto the parties and their mutual understanding, however, it is better to get PO before or during transfer (your agent or representative can collect it and take a receiving from the seller on a copy of PO).
@Arshad Bhai
So is it better to get Sale Agreement in Coperative Societies or just transfer on Biana Agreement?
Salman bhai depends what you want. If you dont want transfer but just to earn profit you can make a bayana agreement and look for another buyer for transfer and earn your profit.
For example you made bayana agreement for a plot costing 50 lacs. You gave bayana to seller say 15 lacs and asked for time like 1 month after which transfer will take place. You now look for a buyer who would transfer plot in his name. You have kept your margin in this deal say 3 lacs so you would ask the buyer to make 2 POs. One of 15+3=17 lacs in your name and the rest in the name of the original seller with whom you made the bayana agreement. The sale agreement will be made between the original seller and the buyer who will transfer plot in his name.
if you want to transfer in your name then a sale agreement is needed because you need to submit a copy with the society and retain one with yourself. Without a sale agreement a transfer cannot take place unless you have a file like in CSG, DHA Valley, DHA 2 Ext etc.
Good Points Arshad bhi ,
Here I have question if some one i means any dealer is saying i have given bayana for this plot and now you have to prepared PO on my name instead of real owner how you see this ?
According to my knowledge PO should be on the name of the person who is real owner in other wards should be on the same name as on Allotment letter for safety...
Need honest opinion..Thanks in Advance
Sir dealers giving bayana is normal. Again depends how much bayana has he given. It can be confirmed from the agreement he made. If he is asking for a PO in his name upto the bayana amount then its ok while another PO can be issued for the remaining amount in the name of the real owner.
The catch is you must meet the real owner in person and see the agreement for yourself so you will be sure that it is in the knowledge of the real owner that you are making 2 PO and that the PO in the name of the real owner will be of lesser amount.
And any PO whether in dealer's name or real owner's should only be handed over during transfer or IF POSSIBLE directly after transfer with signed copies from each.
If you follow this then its not a problem but you must meet the real owner in person to confirm he has entered in such a deal. You can confirm the real owner's authenticity by asking his ID card copy and allotment letter copy and matching it against the agreement he made with any dealer.
Thank you Arshad sb..
It is clear enough now..
Actually when we go market we hear different story ...:)
And if some one will not follow this role then what about token money ?How we can take back easily token money ,,,any law or criteria for this please ?
Naeem bhai as far as i know before giving token money it is better to keep it in writing and signed that you have given token money. Usually token money is refundable if a deal does not materialize but getting it back in such an event is daunting. Either you can given the token money to the dealer or the seller. If the seller takes it and refuses to give it back i think you can only go to court to claim it back. And if u give it to dealer and ask it back they refrain and instead will ask to look for another deal.
The best way i think is to give as little as possible like 5000-10,000 only as token so if you have chances of losing it so it wont matter as amount is nominal unless in situation where you have given 1-5 lacs as token.
Alternatively you can ask dealer to give token on your behalf and if deal is cancelled the dealer can recover back his own token money.
Don't Trust on any one first visited the location.Dont trust on any upcoming development.Make deal face to face with Bayer or saler.Make deal only which one you see.
Try to Contact with more dealer and if you are saler ask the price for buying and if you are buyers ask the price for sale.This is the precautions and trust on Allah.Deal with only approved dealer.Thanks