Respected sirs,
Person A the owner and the Seller enters into an Agreement for the sale of his immovable property with B the prospective purchaser, with a Clause that the transaction should be completed within 3 months from the date of signing of the agreement failing to which, the Seller can retain certain amount and treat the deal as cancelled and the seller is free to deal with the property with any other prospective purchasers.
However the buyer fails to honour the terms within the stipulated time frame. Can the buyer who after say an year ready to purchase the property, but the seller refuses to sell the property to him. In this scenario, can the intending purchaser sue the Seller for specific performance ?, if yes what is the time limit? Is the Seller is under any obligation to sell the property to him.
