Dear All,

I want to sell my flat in my hometown gwalior (Madhya pradesh) worth of 30 Lacs. Against this flat I have taken 10 lacs rupees loan from a bank.

The buyer paid us 10 lac token money with the sale agreement and agreed to pay the balance amount at the time of registry on a specified date.

Now my worry is that

1) In case i repay my bank loan to get my registry back from loan (this will take 1 week atleast) and the buyer cancels the deal after we got our registry , I don’t have other sources to arrange 10 lakh rupees. What should i do to safeguard my interest or to avoid such risk??

2) In case i repay my bank loan to get my registry back from loan (this will take 1 week atleast) and the buyer cancels the deal after we got our registry and the buyer delay the deal by 2-3 months from the specified date. What should i do to safeguard my interest or to avoid such risk??

Looking for your valuable advice.

Regards

Ashish