I have entered into an Agreement of Sale for sale of my flat with one buyer. Buyer has paid the advance amt and the balance amount is to be paid by the buyer through bank loan within 60days of receipt of original documents for bank loan. Cancellation clause has been mentioned in the agreement for non payment within 60 days at the cost of the buyer.
The agreement of sale registerd by the buyer and we have handed over all the original documents to him for the purpose of bank loan on the bais of loan sanction letter issued by the bank.
Now after 60 days, buyer has not paid the full amount and still hasn't submitted our original documents to the bank and intentionaly extending the time by demanding some more documents which are not required by the bank loan
We have asked the buyer to cancel the agreement for sale and return our original documents and take is full advance money back. But the buyer is not ready for it.
What is the solution for this to get our original documents back and cancel the agreement.
Can we file a police complaint against the buyer for not giving our original documents back ever after sending him written communication to make a cacellation deed and take his full advance payment back against our docs.
Is the cancellation deed required for registerd agreeement for sale.
