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Refusal of registering sale deed by the purchaser
09-Aug-2023 (In Property Law)
Myself and my brother executed a sale agreement on 19th day of March 2021 at whitefield Bangalore. Agreed for asale consideration of 60 lacs and received an advance amount of 10 lacs the same day. The time agreed to pay the balance and get registered the property was 60 days. Due to lockdown the the mediator called over Phone after 70 days and says that the purchaser can not arrange the balance and the registration can not be done. In the event the purchaser faits to register only a small sum of rs 30000/= is being deducted as penalty. Now the agent is pressuring us to return the money which we utilised for our other commitments thinking that the deal is sure going to success.
What can we do now to overcome this problem?
the time limitation mentioned in the agreement was completed as per the agreement send them a legal notice and demand to appear before SRO to execute sale deed if you need more info contact me I'll help u out
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Adv. Avinash V
Bangalore / Bengaluru | 25+ Answers
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you have both signed on the agreement of sale and have received part amount . What were the terms for purchaser not coming forward for paying the rest of the agreed amount and registering the property? have you received a return request for cancelling the agreement and for return of the amount?
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Adv. S.K Prabhakar Shetty
Bangalore / Bengaluru | 1000+ Answers
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hi, since the purchaser has paid advance amount of 10 lakhs, if they wish let them file a case for recovery, there is no need to take any risk or tension because even though if agent is pressuring you, i suggest you dont return the amount to agent, i suggest you to return directly to purchaser only by way of cheque or online transfer, pls dont do any cash business, it is not safe. for any legal assistance, pls feel free to contact me, thank you.
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Adv. Suma BK
Bangalore / Bengaluru | 100+ Answers
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