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How to recover balance amount from the purchaser of the flat


07-May-2023 (In Recovery Law)

Dear Sir, I have sold my flat to a person for Rs. 20 lacs out of which he paid me Rs. 1 lac and Rs. 15 lacs as token and bank loan amount respectively. After a month he is refusing to pay me the balance amount, as a reason we have not handed over the keys to him. He his now threatening to us that he won't pay the future EMIs and the bank will auction the flat. Can anyone suggest me what should i do? Thanks, Dinesh

Answers (1)

Answer #1
749 votes
I think only Rs.4 lacs you have not received. the Purchaser will not take risk of not paying EMI because he will be only in loss since now flat belongs to him and he would be defaulter. You allow Bank to sell the flat subject to payment of Rs.4 lakhs to you. You can also talk to purchaser and exchange key against payment of Rs.4 lakhs. Dont be panic. No loss will be caused to you.

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