I had entered into a sale agreement for the sale of a plot in outskirts of Chennai. As per the agreement the registration was suppose to happen within 45 days from the date of sale agreement. As part of the terms and conditions the following line was included.
“The transaction will be complete within the period of 45days from the date of this sale agreement. Time is the essence of the contract.”
Now it’s been more than 90days and buyer is not responding properly and he simply tries to buy more time. He has also posted this property in several classified websites with his mobile no. and quoted the price with 30% margin.
The advance amount he paid was less than 1% of the sale value through a cheque. He somehow convinced me that it’s just a token advance and he will complete the transaction will within the 45days time. So far I have not encashed the cheque also fearing something like this would happen.
This sale agreement is on a 20 rupees stamp paper and not registered.
My question is
Can I look for other suitable buyers or I’m still bound by this sale agreement?
