Issue after agreement of sale for a kothi from the buyer side

Tapan Aggarwal (Querist) 22 May 2011 This query is : Resolved
Respected Sir,
I have signed a agreement of sale for a kothi in pitampura area. I had made a payment of Rs 41 lc towards seller as bayana ie 10% of cost. In Agreement to sale it is written that
buyer has to 1/2 the amount if he backs out from the deal and seller has to pay double the amount amount if he backs out from the deal. I as a buyer wanted to cancel this deal as I have a far more better option of offering. So plz tell me a way out of it.

Thanking-You

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Guest (Expert) 22 May 2011
ONCE YOU AGREED YOU HAVE TO ABIDE BY THE TERMS. OTHERWISE ASK WITH THE SELLER TO CANCELL/MODIFY THE CONDITION BY ENTERING CANCELLING OR ADDING ANOTHER AGREEMENT

M/s. Y-not legal services (Expert) 23 May 2011
Yes. Nice option given by mr.ganesan. Otherwise the seller will file a specific performance suit for fulfill the agreement. If he proved the ready and willingness from his side mean he will succeed his case.

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