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Builder Buyer Agreement

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Builder Buyer Agreement

Builder Buyer Agreement

A legal agreement or contract known as a “Builder Buyer Agreement” unites homebuyers and builders. All of the terms and conditions of the deal between the buyer and the builder are contained in the agreement. Both parties must abide by the conditions outlined in the builder-buyer agreement. The builder-buyer agreement must be signed and registered after the booking deposit has been paid in order to protect one’s interests.

A builder buyer agreement includes –

Construction timeline
Price escalation charge
Area change
Payment details
Building plan changes
Transfer changes
Documents Required Why Legal Door ?
  • Before signing the BBA, the homebuyer must make sure that all necessary paperwork has been approved by RERA, including the Commencement Certificate (CC), Occupancy Certificate (OC), Fire NOC, and municipal permissions.
  • The purchaser must confirm that the property in question is free and clear of liens.

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FAQ

Yes, registration of Builder-Buyer Agreement is necessary after the payment of booking amount only.

To prevent oneself from fraud and to safeguard one’s interest a builder-buyer agreement is necessary.

Yes, it can be revoked if there is an issue in site approval or if the builder believes there is no reasonable time for home to get built.