I executed a an agreement to sell with a seller for 3 months. I applied to bank loan and after lot of processing at last I was told in the bank that since due to litigations in the property they will not be able to sanction the loan. Since their was just two days for my agreement to expire I went to the seller and told its not possible and he said he will advance with another person and return my money.
1) We made an agreement to sell when the seller was holding Memorendum of Understanding.
2) Since bank asked only power sign an agreement later he got power and executed another agreement to sell.
now since we are not going to take it further and both agreement got void, seller said its not good to have two agreement and I have handed over the second agreement which was made after getting power. I still hold the agreement which my seller made and he had made MOU with the original Seller at that point of time. Please let me know how long can the seller take time to return money ?. Since if he takes his sweet time I will be in the loosing side. As of now seller is in good terms, if in case things get bad is their any problem for me since I have handed over the second agreement ?. I still hold a xerox copy of second agreement.
