• Agreement to sale cancelled by buyer

I am going to buy property in ghaziabad for which I have paid advanced 5 lac and applied for 30 lac loan however flat is stilt parking and no bank is ready to disburse loan but on local nbfc is ready to loan 25 lac with 12% ROI that is not feasible for me so I asked to cancel the deal but seller told me they can not pay back 5 lac to me till the date they will not find the new buyer as they have also paid money to buy one property... please let me know what in my favor and can I claim for the instant return of advance money.
Asked 8 years ago in Property Law
Religion: Hindu

2 answers received in 10 minutes.

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20 Answers

hi. kindly share the agreement to sell that you have entered with the seller for better guidance over the query...was there a clause subjecting to bank loan???

Hemant Chaudhary
Advocate, Gurgaon
4632 Answers
67 Consultations

1. You can seek cancellation of agreement on any ground you want.

2.Making sale agreement does not mean you will have to complete the agreement in all circumstances.

3. So send themalegalntice cancelling the agreement and seeking refund of your money.

4. They may charge a processing fees for this but cannot refuse to make full refund.

5. if they refuse to give you full refund you can file case beofre the consumer forum seeking refund,interest and damages.

Devajyoti Barman
Advocate, Kolkata
23653 Answers
537 Consultations

Advance money if paid through cheque or RTGS will be a primary evidence to show that there was an agreement and advance paid is 5 lakhs

U should file a suit asap against him.

For more advice rply to the same

Amol Chitravanshi
Advocate, Delhi
279 Answers
1 Consultation

1) title of seller is not clear and marketable

2) cancel the deal and seek refund

3) if seller refuses to refund file suit to recover advance paid by you

Ajay Sethi
Advocate, Mumbai
99776 Answers
8145 Consultations

The statement of payment as per the clause of sale agreement if not complied, simply give a notice to the builder to pay the amount if not paid in the stipulated time file a complaint / FIR u/s 420, 406 of IPC against the builder.

Vimlesh Prasad Mishra
Advocate, Lucknow
6851 Answers
23 Consultations

contact a local lawyer and issue legal notice to seller to refund your money

Ajay Sethi
Advocate, Mumbai
99776 Answers
8145 Consultations

They can not delay your refund till they find a new buyer.

As advised above file a case beofre the consumer forum for redressal.

Devajyoti Barman
Advocate, Kolkata
23653 Answers
537 Consultations

Even if there is a clause in the agreement, it may be opposed to the public policy.

Such clauses favouring one side is biased and can be challenged.

File a complaint before real estate regulatory authority.

Rajaganapathy Ganesan
Advocate, Chennai
2300 Answers
8 Consultations

Any construction in the stilt is illegal, which includes even a small partition wall. In your case, the builder construction an entire flat in the stilt floor.

This was an illegal flat and the builder was wrong at first place, to offer this to you for sale.

Cancel your booking and seek refund of your earnest deposit.

Approach RERA to seek refund, if the builder is not ready on his own.

This case will be file before RERA, Lucknow.

Vibhanshu Srivastava
Advocate, Lucknow
9763 Answers
323 Consultations

Take assistance of a lawyer to send a legal notice to the builder together with interest.

You can avail service of sending a legal notice to the builder through kaanoon.com

If the notice fails to help, file a case before RERA or the consumer forum.

Vibhanshu Srivastava
Advocate, Lucknow
9763 Answers
323 Consultations

Send a legal notice to return the payment you have made to the seller within 15 days from the date of receipt of the notice.

If the seller fails to pay the advance amount you can file case for recovery of the amount.

Rajashekar
Advocate, Bangalore
591 Answers
4 Consultations

if there was such clause then you can file a civil suit for recovery to recover your money..

Hemant Chaudhary
Advocate, Gurgaon
4632 Answers
67 Consultations

1. The builder cannot make the refund contingent on finding a new buyer to the property.

2. Serve a lawyer's institute to the builder to refund the amount, and if he does not meet your demand then sue him in the consumer forum to seek the refund of the principal amount with compensation for mental agony.

Ashish Davessar
Advocate, Jaipur
30840 Answers
981 Consultations

If he is. Builder you can go against him under consumer protection laws as well as RERA. Consumer will be better. If he is a private party you can go against him vide civil suit or police FIR for cheating and not returning your money. First find out what terms your agreement to sale has in it before taking any legal action.

Prashant Nayak
Advocate, Mumbai
34514 Answers
249 Consultations

The vendor cannot give such reasons for refusing to cancel the booking and refund the booking amount.

You can issue a legal notice to the vendor communicating your decision to cancel the booking/agreement for the reasons of bank loan and demand the refund of booking amount.

If the vendor do not comply with the demand made, you may drag him to the court o flaw for relief and remedy.

T Kalaiselvan
Advocate, Vellore
89978 Answers
2492 Consultations

Yes paid via RTGS and bank loan failure clause is mentioned in sale deed but they said we will pay back to you once we will get the new buyer we do not have money to pay...I may need lawyer to go legally

You May have to initiate legal action through a lawyer.

You can find a lawyer from UP from this forum too.

T Kalaiselvan
Advocate, Vellore
89978 Answers
2492 Consultations

Hello,

Please tell me that you paid the money to some builder or to some individual?

Also tell me that did you sign any terms and conditions at the time of giving the advance?

If yes, then what were the conditions of cancellation ?

Regards

Anilesh Tewari
Advocate, New Delhi
18103 Answers
377 Consultations

If the same has been given to the builder then file a complaint before RERA

Let me know if I can be of some help

Regards

Anilesh Tewari
Advocate, New Delhi
18103 Answers
377 Consultations

Wait for few time , else serve a legal notice through a lawyer, then proceed to file case in consumer forum ,

Or lodge a criminal complaint for fraud and cheating

Atul Shahi
Advocate, Allahabad
160 Answers
1 Consultation

Hi,

Give the dealer a legal notice and ask for return of the money, if not returned file the case against him.

Ganesh Singh
Advocate, New Delhi
7169 Answers
16 Consultations

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