Sheryl Aggarwal (GM) 18 July 2011

Options Available after expiry of sale deal agreement.

Hi

I sold my flat to some broker in Delhi . Now time as mentioned in sale agreement including grace period is over . Broker has paid only 30% of the deal . Now my questions are

1)How I can pressurise him to get full amount ?

2)Can I forfeit his advance as mentioned in ATS ?

3)Should I send him some notice ? Broker says delay in payment is normal practice & u cannot forfeit my advance.

We have written agreement on stamp paper but it is not registered .

Please advise What options are available for me ?

Thanks

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3 Replies

R.R. KRISHNAA (Legal Manager) 18 July 2011

Written agreement will always prevail. So you may inform your readiness and send a legal notice calling upon him to pay the remaining amount. But if the buyer sends notice or contacts in person seeking return of advance amount highlighting his inability to purchase the property you may forfeit the advance amount and cancel the agreement.

Best wishes