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Dnyaneshwar (NA)     12 September 2013

Mou withdrawn by purchaser

I did Sell of my 1BHK home. Signed MOU by both parties. After 30 Days time period purchaser wanted to cancel the deal. Purchaser paid me some advance amount.

What will be the correct way to cancel this MOU? What are the cancellation charges I can ask from purchaser?



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 3 Replies

SAI KIRAN R (ADVOCATE)     12 September 2013

The MOU should provide such contingency. If not raise the issue with the purchaser and settle the matter amicably. You can seek  for depreciation of the property if any ;  damages for having lost the opportunity of selling at earlier  time and expenses.

Dnyaneshwar (NA)     12 September 2013

Hello Sai Kiran,

 

Thanks for reply. 

I have invested advance amount from purchaser to buy new flat. And now my flat purchaser want money back. What are the charges I can deduct from the Advance legally as MOU says notice period of 30 days to pay money but buyer did not pay and ask to cancel the deal after 30 days. I am having 30% loss from the new deal which I am doing due to delay. Please suggest.

anand (admin executive)     13 September 2013

Sir i am anand from Karnataka.
 
Sir i saw your valid responses thru online reg. legal matters. Now its my term to seek a valueble response from you.
 
Sir i have a combined land of my dad & mom and dad expire a year back. Now we are planning to sell it and made an agreement in rs. 500 stamp paper. It has 71 cents of land and i got advance of 10 lacs from an estate agent.
 

Now my query is, after a period of 6 months of agreement, it has not executed and in between the agent sold the trees completely. I need money to construct a home so need to find a purchaser and i got it. Can i sell this to a new purchaser and the first agreement has any value? can the agent create any problem? am i eligible to repay 10lacs to him? Am i eligible to claim for expenses? can the agent create any problem if i do my new deal with new purchaser get registered?

Kindly clear all doubts. Request your mercy for a sudden response.


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