What is the best way to pay for newly purchased house by cash/credit ( without lone)in installments?

I have recently purchased a house in a different state to be handed by next year. I've signed the agreement and it mentions installments in % of the total cost according to the completion of the project. I haven't taken a home loan as i can pay it off as mentioned. The builder has given HSBC account number for payments. By just mere dropping the check how sure can i be that it is credited correctly for my plot. It a big colony so alot of other people might be depositing at the same time?|||you will have the statement from your bank reflecting the transfer of amount to that builders account. That is the proof of payment by you to the builder.|||1) Since you say you can afford to pay the whole amount without taking credit, then that is the best way to buy a house. This will give you complete ownership and you may do whatever you deem fit. You also do not have to take the trouble of servicing the loan for a long duration. You save money on intrest.





2) If the builder has mentioned the same HSBC account in the agreement then that should be proof enough that you have paid him. ( of course you will be giving a crossed cheque). You have the bank record of payment.


3) It is very important that you make site visits to conform that the project is completed as per schedule.|||Although giving cheque itself is risk free,but u must ask the builder to give receipts for every cheque mentioning yr.plot no./house no.The cheque will only get credited to his a/c.,there can not be separate a/c.for all buyers.Now what is the credibility/reputation of the builder,u might have known before doing this deal.|||This is a huge amount of money and you haven't seen fit to hire an attorney to line this all out? That is exactly what I would do- hire an attorney right away.