You cannot cancel agreement for sale unilaterally 

buyer can file suit for specific performance 

3) he can obtain injunction restraining you from selling the property 

if property has loan you need bank consent for sale of property 

1) Need to check the terms and conditions of agreement to sale. In that especially termination clauses.

2) If any one clause is missed by the buyer then you are on right track. You can send a notice to buyer foe cancellation of agreement.

3) Need to check agreement to sale then only can guide you in proper direction.

It is necessary to peruse clauses in your agreement to advice 

you can cancel agreement if purchaser fails to make balance payment within stipulated period 

1) If agreement to sale is not registered with registrar then its not authentic document.

2) So you can send notice to buyer by stating your wish that you want to sale at market price.

And don't give possession at any cost.

Somehow show that your title to the property is not marketable and clear

Dear Concerned,

Yes you may cancel the agreement and mention it to the Buyer that you now do bot intend to sell due to family reasons. To escape any kind of issues it would be better that you Return the money with Bank interest for the number of days the money is held by yourself. Pay this directly through Bank Transfer....... (Dont pay DD or Cheque) He may not accept and he does have a right to file a case under specific performance of the agreement to make you to do the registry. 

Additionally it is better to speak with a local lawyer where the property is situated for being prepared for any litigation this person can initiate.

Best of luck  

1. Cancellation of an agreement for sale does not depend on the whims of the parties and the grounds for cancellation is to be guided by the stipulations mentioned in the agreement itself.

2. So refer to the terms of the agreement to find out if there is an option to cancel the agreement on breach of one of the terms and conditions of the agreement.

3. Rise in market price of the land is absolutely no ground for cancellation of the agreement unless you were defrauded and misled to enter into the agreement as regards fair price of your own land.

Act accordingly.

Dear Sir,

It seems the purchaser has already filed suit, if it is the case then take a contention that the price was fixed by the purchaser fraudulently much below the market value. Thus you can raise counter claim and also claim to forfeit the advance paid by him as he played fraud on you.

If you cancel pay the buyer his advance amount and If any other conditions agreed

Sir if there is agreement you need to abide by it has seller has performed his part so the court can order specific performance of the agreement and can order you register the property.

You have to clear the loan liabilities.or as agreed in the agreement.

See if there is no default on part of the buyer and he is ready to make timely payments then you can only take the defecne before the court of the suit the buyer has induced you for lower price and has not given you the market price of the property.

Thoroughly go through clauses in sale agreement . time is the essence of the contract'. Once the agreement has been entered into it can be cancelled only within the periphery of the cancellation clause.You can't unilaterally withdraw from agreement until there is any breach of contract . So not take any steps for registration of deed and you can cancel agreement if purchaser fails to make balance payment within stipulated period .

If they send a lawyer notice for execution of sale then approach a local lawyer and send reply.

1. As per the information mentioned in the present query, makes it clear that agreement is not notarised.
2. Yes, you can cancel the agreement after giving the amount back to the buyer as you are at fault for not executing the agreement.
3. He may also ask for the interest then I advise you to give that also as otherwise litigation may hinder you.
4. But, if he forces to sell the property at the same price on which it was agreed and go to court then try to show that the market price is much more higher than the price agreed between you both.
5. Reason May be that you were not aware about the market price at that time or say (at last if needed) that he has forced you to sell at this price, and also say that this is why you acted smartly to not to have the document notarised.

Was there any exit clause in the agreement?

You may send him a notice for cancellation of the agreement and may refund the earnest deposit.

Regards

Share the copy of the agreement for a more concrete advise.

regards

You can not cancelled the agreement one sided, if you are deny then you are liable for it. May be vendee can file interim injunction. So better try to settle dispute amicably out of the court. 

Even though the unregistered sale agreement is not enforceable in law, the court may pass an order to return the sale consideration amount received with interest.

So you can contest the case and express your willingness to return the amount received towards sale consideration so far.

It is illegal to have entered into sale agreement while there is a loan against the property especially without the consent of the lender.

As the buyer has already approached court with a suit for specific performance of contract, you may not worry because unregistered sale agreement is invalid and not enforceable.

You deny the sale agreement telling that it was for collateral security only.

The court may direct you to return the amount received with appropriate interest.

1. You will have to raise a dispute on some pretex or other (family, wife, relations, friends ....) to avoid the sale of this property. This will be sort of difficult but possible.

2. Give Legal Notice to opposite party that the deal is faulty and you cannot go ahead on it and that you will refund the entire money within so-&-so days.

Keep Smiling .... Hemant Agarwal

Hello,

You have to show some violations of agreement to back out from the contract.

Regards 

1. You have already entered in to a written agreement with the prospective buyer  for which you are expected to comply with the terms of the said agreement as per law as otherwise the iopposite party can sue you seeking specific performance as per the said agreement with damage and cost.

2. You can deny to comply with the terms of the agreement if it is found that the other side has not complied with his terms or the agreement is void at law for which the terms of the said agreement can not be complied with. 

1. If the title of the property has been kept under mortgage while taking loan then the said property can not be sealt with in any way including  its sale.

2. Based on the above ground you can cancel the agreement entered in to by and between you and the opposite party.

3. You shall have to return the amount taken by you with interest and the best way shall be to send it by NEFT to his Bank account from where he had issued cheque to you toeards advance amount. 

1. The Court might ask you that you were aware of the market price of  your land or were open to get the said knowledge before  signing the agreement and taking the advance.

2. So, you shall have to very carefully place your arguments in this regard.

3. The fact that the land is under mortgage is a very good point to cancel the said agreement and you cabn add that the agreement for sale was drafted by the buyer putting price less that the  market price since the property was mortgaged which is required to be cancelled since you came to know later on that legall a mortgaged property can not be sold.

The agreement to sell has to be a registered document.The notarized agreement holds no real value and hence cannot be a ground to enforce the sale. You can say that the agreement was done in haste and the property was undervalued.

Regards