We have signed an MOU with a prospective buyer , valid for two months. As per the MOU, he agreed to pay all money except the sanctioned loan, which amounts to around 40% of the value of house. But after one month, he is telling us that he cannot pay the 60% amount till we register the flat in his name as he needs registration papers for claiming money from his PF account. We have apprehension in doing so, as instead of 60%, now he wants to pay only 10% and claim the rest from his PF account and take a loan from bank. We donot want to change any conditions of MOU signed earlier and have clarified our stand on this. We were not aware of this PF thing he has come up now with. We are ready to pay back his full token amount if he agrees to dissolve the MOU now , but he is institing on changing the terms of MOU or do a sale agreement. Can we dissolve the MOU before completion of two months or should we wait till completion of two months for it to lapse on its own? Please guide.
