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What to do incase wrong information has been given in sale agreement


07-Apr-2023 (In Documentation Law)
Dear sir I planned to sell my house of 40lakh. We made an agreement for that in 200₹ e stamp. They given advance 1lakh rest of amount will pay after we evacuate our home. But they made 5 lakh advance in agreement bt given is one lakh. Now they are not interested to buy our property and asking 5lakh to be returned. What to do sir. Is that legal? We have to pay 5lakh to them?
Answers (1)

Answer #1
758 votes
Sir, When was the sale agreement entered? when was the stipulated time for completion of sale transaction?

Generally, it would be 2 months from the date of entering into the Agreement of Sale. If the time has elapsed, you can send a termination notice of the agreement. It is necessary for the purchaser to prove that he has paid you Rs.5 lakh.
The immediate action from your end can be sending a termination notice if the agreed time is completed.

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