Buying a Used Bike with File but without Smart Card

[roboxx]

I'm gonna buy a used bike whose File is available with Form of Application for Registration but Smart Card and Original number plates are awaited yet. Registration number has been alloted and I have verified on MVRC website.
Owner says Punjab Smart Cards are long awaited nowadays and transfer of ownership would only be possible once the card is received and he looks cooperative to do so.
Should I proceed with the purchase on Stamp paper?

[Cardino]

My question is why would you even risk it? , is it too good of a deal to pass up? . He looks corporative because he wants to sell you a bike get the money while still keeping the bike in his name.
My man his tone can change anytime, what would you do if he refuses to transfer? do you want to deal with all the legal hassle to try and get your money back.

What if you want to sell the bike before the said smart card arrives , what would you do then?

What if God forbid anything happens to this gentleman what would become of your money then? would his family honor your deal then and would you be willing to work out the legal issues?

I'd say just get the bike with all the paperwork transfer to your name and have peace of mind even if you have to spend a bit more.

[roboxx]

Thanks for your advice. You're absolutely right.
But I have purchased the bike with transfer deed made on stamp paper that the seller will hand over the original number plates and provide biometric at the time of ownership transfer when his smart card arrives.
I have taken the possession of bike and Original documents with original transfer deed and have transfered the price of the bike minus 30,000 Rs as a safety measure, this remaining amount will be handed over to him once the ownership transfer will be done.
I'm satisfied with this.