sir,
i want to purchase a proerty at gzb which is mortgaged(home loan issued in that property name) with some bank. Now the seller offered me to sale .
i accepted and given token money and agreemnt to pay remaining amount within 45 days.
now today is 43rd day and i was not able to make my arrangements of money as loan which is about to sanction is not completed yet because of some deficiency in chain of papers provided by seller. which I come to know a week before when enqquired for delay in home loan sanctioning of me.
now he threatened me to forfeit my token money .
what are the remedy available to me as it is not my fault (as he has not provided whole set of documents.)
moreover if I arrange money personally and give it to him, what is the process when property is mortgaged to bank which issued earlier loan in his name.
how will he transfer the title to my name.
pls guide,
thnx for sparing time for me
