House Sale Agreements
Indian Consumer
(Querist) 29 October 2009
This query is : Resolved
Usually we find that the terms and conditions in a house sale agreement are in favour of the developer. However, how comfortable are the developers negotiating on the conditions being modified?
Whether is there any way that a sale agreement that may get signed may go for renegotiation in case of enforcing some of the conditions such as terms of payment, application of penalty or sweep clauses made by developers such as at his discretion he may resell the apartment without refunding agreement amounts or withholding as much as 15% of the sale price etc.
n.k.sarin
(Expert) 29 October 2009
If any agreement executed by the parties with their free will.they are bound to follow the terms and condition of the said agreement. This is general rule.But some exceptional cases you can avoid to follow the terms and condition as provided in contract act.
'his desecration he may resell the apartment without refunding the money' is totally arbitrary condition and one can challenge the said agreement in court of law.
Raj Kumar Makkad
(Expert) 29 October 2009
In response to your quarry I am of the opinion that it is the upon the vendee to negotiate with the developer before signing any agreement for sale. Performa type terms available with the developer should not be accepted and negotiation should be made duly but practically it is not made by vendee becuase he finds at lesser footing himself and it is the developer who take benefit of various buyers of his limited houses/flats/plots and rule of demand and supply prevails. I suggest at least you start it and negotiate fully with the seller.
