What are the safe options to receive proceeds of selling property (land)?Can individuals open an 'ESCROW' account?
1 Answers
We are not very sure if its already happening in India or not at an individual level.
HSBC do provide such escrow account for real estate transfers. You may read more here: http://www.hsbc.co.in/1/2/business/escrow-services. Its also put under business category so not really sure if they open it for individuals.
Thanks,Pankaj for the quick reply.Which means till now the only options are mostly cash payments or cheque-which has to be verified fast with the bank?without peace of mind.
Ya, unfortunately. You may consider taking advise from an legal expert on this, which might be helpful.
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