incorrect schedule of property
Querist :
Anonymous
(Querist) 29 November 2009
This query is : Resolved
I had signed an agreement for sale in July 2009 to buy a plot for Rs.18 lacks, and paid Rs.7 lacks as advance. I wanted to take home loan for the remaining amount. But, I am not getting loan because the schedule of the property mentioned in the agreement is not matching (on one side) physically. As I cannot buy it without loan, I want to withdraw from the agreement. Can I get back my money? If yes, will he pay interest for the period for which he had used my money? And is it possible to stop him from selling the property to some other person?
niranjan
(Expert) 29 November 2009
Get rectification agreement from the seller.Get a copy of deed from the seller and also map of the land showing your plot.
Raj Kumar Makkad
(Expert) 29 November 2009
Yes. You can restrain the seller to dispose off the agreed plot to any other person before settling the matter with you.
There might be a term in the agreement (though you have not mentioned the terms here) for sale to the effect that the seller shall be responsible for any deficient of the property being agreed to be sold and if the specifications are not matching exactly then he is responsible and in these circumstances, he being responsible is liable to pay you interest as well as other compensation like escalation of cost.
adv. rajeev ( rajoo )
(Expert) 30 November 2009
agreement of sale can be rectified, it i not a big matter even if it is mistake in the agreement of sale it can be corrected in the sale deed at the time regn., of the sale deed.
return of money it depends on the seller, he may return it or not, suppose seller failed to repay the money your choice is to move to the court.
He is ready to sell you, for the small mistake which can be rectified yourself has made it as big problem.
Querist :
Anonymous
(Querist) 30 November 2009
Thank you. The seller is not willing for rectification. Loan is being rejected/delayed because of his mistake But, he is demanding more money from me for the delay. Therefore, if return of my money with interest is guaranteed, I would prefer to go to the court instead of begging him.
Khaleel Ahmed Mohammed
(Expert) 05 December 2009
You are advised hereby that, necessary amendment can be done in the agreement regarding the schedule of the property.If the seller refused to make such amendment it is his mistake. The property to be sold to you should be clear. You can file a civil suit against your seller for the refund of advance amount paid by you with interest or liquidated damages.
Querist :
Anonymous
(Querist) 06 December 2009
I am feeling that my problem is little complex. please help.
