Date for agreement to sell expired,no response on notice sent to buyer

704 votes

Yes the agreement stands cancelled as the decided date has expired. Also, you can forfeit the advance amount as the agreement has the clause mentioning the same. Though it is advisable that you wait for reasonable time, that is around 3 months.

Advocate Siddhant Sharma LawRato

781 votes

As you have sent the legal notice to the buyer make sure the notice is duly served to them , and you can sent another legal notice to the buyer giving the last and final opportunity to make the payment and if the notice is duly served and still no response from the buyer then you can sell you property to another buyer as you have no liability towards the buyer.

Advocate Meenakshi Aggarwal LawRato

806 votes

Time is essence of the contract since the buyer has not responded within the specified time period and same has elapsed.Therefore legally you were required to send a legal notice for cancellation which you have already done ,Therefore if any consideration was accepted by you on behalf of the said agreement then you can go ahead and return the same and take receipt for the same.Therefore after that you can go ahead and execute a fresh agreement for sale.Please contact for further details.

Advocate Nishant Solanki LawRato

952 votes

Legally you can sell the property to another buyer if the agreement contains a forfeiture clause and as per that the other party must have committed some default thereby giving you the right to forfeit the advance amount. If this condition is satisfied you can go ahead and sell the property to another buyer.

However the agreement to sell must be examined carefully first in order to assess the legal risks that you could be exposed to. Planning/strategising must be done only after thoroughly examining the Agreement to Sell.

Advocate Asif Ahmed LawRato