Refund of advance 2 lacs - Flat buyer backing out of sale agreement -

As per your query, whether the seller is entitled to forefeit the advance money (YES). As per Supreme Court Guide lines observed in past one decade that the seller is entitled to forfeit the earnest money deposit where the sale of an immovable property falls through by reason of the fault or failure of the purchaser. You no need to worry as per the above observation. If you want I will provide Judgment.

 

The Rocking Lawyer

V E MANOJ KUMAR

ADVOCATE

CELL NO 8686159292

issue legal notice to the buyer to pay the balance sale consideration as per the Agreement of sale

U issue legal notice to buy the property with in specified time .if he delays or refuses u forfeit the advance as expenses &damages.let he go to court .if he go to court for specific performance of contract then .u take remaining amount &sell the property to him as per agriment .

Is there any time specified in completing the transaction? If he is not abiding by the terms, he can find another buyer.

Sir,

As sugessted  above by Mr. Shashi Dhara first you may send a notice by RPAD by giving 30 days time and keep Postal acknowledgement / postal track .

You have not informed the date of sale agreement, whether sale agreement in stamped paper or in plain paper and uou also not indicatewhether any the time for regisration of property.

C. SHANMUGAM , 14-11-2018

RETIRED EMOLOYEE

 

Sale agreement is done on 200 rupees stamp paper by buyer and me at my home. No witnessess. I took just photos of agreement. Agreement date is 26 oct. 2 months time is given. Verbally it was agreed upon asap registration on 21st oct but later buyer lied that its 2 months written. He is intentionally delaying and we want to finish the sale off. He is harassing my daughter saying that she has to pay 50000 compensation plus 2 lacs to him. What is our liability in this case?

1.it appears that the agreement of sale is not executed properly. Issue legal notice expressing your readiness and willingness for registration subject to payment of agreed balance sale consideration within a week failing which the advance money will be forfeited towards damages..

2.If you dont want to go for registration and want to cancel the agreement just issue notice for cancellation of the agreement.