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Robert.V (officer)     15 November 2011

Sale agreement

Hello

I have got into a sale agreement with a person regarding sale of my house located in bangalore.the agrrement was made on a Rs 200 stamp paper but not registered in a sub registrars office.

The buyer has paid an advance of 30% of the sale value and has taken a time of 3 months.but now i have come to know that the buyer is trying to find buyers at a better rate.can i refuse to sell the property to any other party other then the agreed party?

if i get other parties ready to buy the property can i sell this property legally?

 

Regards

robert.



Learning

 3 Replies

sridhar pasumarthy (ADVOCATE)     15 November 2011

Dear Robert,

Is there any stipulation in the agreement that you would register the conveyance either in the name of the purchaser or his nominee, assignee etc.?

If so, what is wrong if the buyer finds any new one to sell for a better rate.

Unless, the buyer fails to pay the balance sale consideration within the time stipulated, you cannot give a go-bye to your obligations agreed to be discharged under the agreement.

 

niranjan (civil practice)     15 November 2011

You should not sell your property before three months and if you will do so your property will become disputed and no buyer would come forward,do not involve property in litigation. You may give him notice that you are ready to return earnest money and the sale agreement is cancelled.I also endorse views of Mr. Sridhar.

K. GOPALAKRISHNAN (ADVOCATE)     16 November 2011

Dear Robert,

The buyer may institute a civil suit for specific performance of the contract, if there is a breach of contract.  Hence, you wait until for three months or try to evade from the contract until for the specific period. 


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