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Advocate dishi (AM LEGAL)     24 April 2014

Query regarding agreement to sale

HELLO ALL,

PLS HELP,

MY BROTHER IN LAW HAS SIGNED AGREEMENT TO PURCHASE THE PROPERTY BUT WAITING FOR BANK LOAN NOW BANK HAS DENIED TO GIVE HIM LOAN BECAUSE THAT PROPERTY IS ONLY 10% COMPLETE AND MY BROTHER IN LAW HAS GIVEN  3 LACS TO SELLER, AS BANK HAVE DENIED TO SANCTION THE LOAN  HE HAS NO MONEY TO BUY THAT PROPERTY,THEN WHAT STEPS CAN BE TAKEN TO TAKE MONEY BACK AS SELLER IS NOT READY TO GIVE THAT AMOUNT AND AS PER AGREEMENT ONLY ONE MONTH LEFT TO COMPLETE THE DATES  THE VALIDITY OF AGREEMENT WAS 45 DAYS SO PLS HELP.



Learning

 2 Replies

bhagwat patil (Property due diligence 9422773303)     24 April 2014

Please study the conditions and silent features of the contract.if the construction is not complete one cannot force to register sale deed.send him notice by senior lawyer.

Rishi (Junior lawyer)     24 April 2014

Dishi, In your agreement it would be mentioned that if you want to cancel the agreement you can, after deduction of some charge. Anyways what reason bank gave you for refusing the loan. I would suggest you to negotiate with the builder after sending him a legal notice. It will cost you somewhere around Rs 500.

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