Not paying balance of money
Anil Kumar
(Querist) 19 August 2012
This query is : Resolved
Dear sir, I sold one house to someone and that person wrote on a stamp paper that deal has been done to buy house for A amount and same time he paid me advance of B amonut by cheque. He wrote that rest of amount he will pay in 90 days and will get registry done but taking me in his favor he got registry done within a week and paid me C amount of money. Actually amount A+C is the total amount mentioned on registry as value of property.Still half of money is balance to be paid but now he is not paying. 90 days are over and he says he'll pay next week and this is ongoing. My question is can I do something legal to get my money back?
ajay sethi
(Expert) 19 August 2012
before buying aproperty why dont you consult a local lawyer . it is classic case of penny wise and pound foolish .
always have agreement vetted by lawyer to protect your interests . .
if purchaser has failed to pay balance amount within period of 90 days issue him legal notice . however from facts mentioned by you it appears that full cheque payment has been made and you ahve executed regd agreement in his favour
if cash payment has not been made and it is not mentioned in agreement you cna do nothing but twiddle your thumbs .
Devajyoti Barman
(Expert) 19 August 2012
If you think that the buyer s not a position to purchase the property soon then in the context of expiry of time for sale, you can rescind the contract and send the earnest money after making necessary deductions if there is any clause in that regard.
