Hi,
I have entered into a property sale agreement with a seller in karnataka which has clause that if the seller fails to meet his obligations, buyer is entitled for X amount as penalty and also refund of advance money.
Now the seller want to willfully back out of the agreement mentioning dubious reasons and willing to return the advance money and pay the penalty as mentioned in the agreement. But I don't want to cancel the agreement and want the sale transaction to be completed. Do I have a right and option to force the seller to execute the sale deed, if I pursue through court? Seller has held the advance money with him for more than 6 months and I have made arrangements for remaining sale consideration amount. so I am at loss even if I get X amount as penalty.
Regards,
Ramana