Not closing the sale deed and paying the agreed amount

Hi, I have a house in a gated community in Chennai, which I wanted to sell, which is under house loan. One buyer approached me with a request to differ the registration for few months till April 2020, till that he would pay the EMI on behalf of me instead of rent, also he promised to make some partial payment in between. we had an agreement on 100/- bond for the same. Due to COVID, we went with moratorium. Now the bond period is elapsed, when I ask him for closure, he is giving some excuse and not even paying the part payment as agreed. Please advise how to proceed with this. Should I opt to go with NPA with the bank so that they proceed with needed action as a last resort?

Answers (1)

133 votes

In this case, the sale agreement between you and the third party bank never bothered about said the agreement and further as per MOU between you and the bank will sustain for the further steps the bank will take it's legally and further if you not paying the EMI sure your account will treat as to NPA (None performing account). I have a vast practice in that area you can seek my assistance in your matter.

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