• Rights of power of attorney holder in resale flat

Dear Sir,

I am going to buy a resale flat (under construction now) from the owner. But the owner (1st party) is going abroad very soon and it is unlikely that we will be able to complete the bank loan and other agreements before he leaves India. I have already paid him the 20% of the property value via net banking and for rest of the 20 % bank is about to sanction the amount which may take 2-3 days. We have already prepared buyer & seller agreement (assignment agreement) and affidavit from buyer and seller which are stumped and notarized. Now the builder is asking for a conditional NOC from the bank to issue NOC from the builder’s side to the bank that we can internally transfer the loan amount among buyer and seller to pay rest of the amount to the seller (1st party) from my side. It is unlikely that we will be able to complete all documentation before the 1st party is moving out of India. In this situation, the 1st party (owner of the flat) is ready to give power of attorney to one person close to me who on his behalf can do remaining work with the bank and the builder. I request your comments on what are the rights this power of attorney holder have and what all he can do on behalf of the 1st party when he is not available here? Can Power of attorney holder do registration of the flat in the name of the 1st party (if the need be) and resale the same property to me? Is he legally allowed to do that? If we (the buyer and seller) not able to do the property transfer on time, then the seller is ready to give me a court affidavit stating that he has taken the money from me as advance to sell the property (which is under construction) at the price agreed between us after the flat is registered to his name and other conditions like he will not sell it to anyone else or increase the price etc . How valid these type of affidavits considering the fact that the seller will be out of the country very soon. I REQUEST YOUR ADVICE ON HOW TO PROCEED IN THIS SITUATION.     

Regards,
Riju