Dear Sir/Madam,
We entered into an agreement(unregistered) with a buyer.The agreement had a clear clause stating that the agreement is cancelled if the balanace amount is not paid in 2 months time. A 2% advance was paid by the buyer. As nothing happenned in the said time of 2 months , with legal advice, the money was returned to the buyer, by cash( have the deposit slip as proof), and also a legal notice saying that the agreement is cancelled.
Now I have another prospective buyer after about 8 months, who is ready with cash. But the old buyer is creating unnecessary problem by telling this new buyer that he has an agreement and falsely telling him that he has rights for 3 years.(we don't understand from where he has got these numbers!)
We have sent a legal notice to him, and we have proof of return of money (by cash through deposit form) into his account.
The new buyer is a little hesitant to buy now, as the old buyer may create problems and he says that though he understands that legally everything seems to be clear, in future this old buyer having influential real estate people spread around that area, as his men, could create real problems. The new buyer is asking us to get a signed cancellation of agreement from the old buyer, which the old buyer is refusing to co-operate, though we have tried persuading him to do that in many ways. He just gives lame excuses and goes to hide outs and is escaping from signing this cancellation document which the new buyer wants.
case 1:
If we have to somehow get the cancellation signed, what is the way out?(not sure
case 2:
Or is this a dead case that we are being too woried ? In that case can we leave him like that and boldly ask the new buyer to proceed? What steps should we take to protect our new buyer and give him peace of mind?
Or is there any other new way of dealing with this situation?
Kindly advice.
Thank you,
SC
