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Seller failed to share documents to the bank
19-Aug-2023 (In Property Law)
Hello,
I recently entered into a ATS, for a flat in Gurgaon. Bank informed me that the documents provided by the seller are not enough or incomplete, hence they wont disburse the loan. However, Seller is pushing us to make the full payment by 31st August as mentioned in the ATS, or he will claim an interest of 18% per day.
There is no delay from my side, all my documents are complete, how can i avoid this penalty as i am in no position to pay such a hefty amount.
Please advice.
hello client as i can see ur issue . yes its an urgent issue. as ur saying tht you need to ractify the issue soon . in this posirion you do not have many options as there is large amount is invloved in ur issue. yes we are able to help you in this matter but for full advice we nees to go through your documentation .
Helpful?
Adv. Vishwanath Pratap Singh
Delhi | 1000+ Answers
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The best legal recourse for you is to send a leg notice to the seller which will be in the nature of cease and desist notice stating the situation whereby since the proceeds to the property is not fully complied with and ask the seller to show cause why the ATS shall not be cancelled. This will act as an evidence and will also save you from the liability to pay the interest rate as to delay in payment
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Adv. Yuganshu Sharma
Delhi | 700+ Answers
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you are a consumer of the 80s group who is the seller and after receiving assured sum of money aur part there off he is bound by the promise he has made to you and if you to fear to to sustain any danger or loss because of sellers act in not getting the bank loan slash finance then it is the 80s who is as fault because as per the information provided by you you have completed all your homework so it is advisable that you should put the seller on legal notice and thereafter aur besides that you should also move the consumer court in regard their of according to the pecuniary jurisdiction of the value of your flat I hope this will clarify your issue still you have any doubt you may contact
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Adv. Sunil Kumar Singh
Delhi | 50+ Answers
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Disclaimer: The above query and its response is NOT a legal opinion in any way whatsoever as this is based on the information shared by the person posting the query at lawrato.com and has been responded by one of the Divorce Lawyers at lawrato.com to address the specific facts and details.
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