what are terms and conditions of agreement for sale?
2) is there any clause that it is non refundable?
3) if not then sue seller to recover your booking amount . cancel deal as seller unable to obtain clearance from bank
Seller is not returning booking amount of 2 lacks
We made online payment of 2 lacks rs for a apartment in Sjr Primecorp Vogue Residences whitefield , bangalore for Flat No: 602 in Sixth Floor, Wing ‘Milano-C’. Seller had taken the loan from arka fincap and because of which Banks are unable to give legal clearance. We told the same to him and asked his loan outstanding reports and his agreement with the arka but he is not willing to share anything. Then we asked him to cancel the deal and return our booking amount of 2 lacks rs but he is saying that it is non refundable. Now we need help in recovering our booking amount.
Asked 2 years ago in Property Law
Religion: Hindu
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11 Answers
Approach RERA
1. Send a legal notice to the seller to return the advance payment made to him.
2. Hope there's a written sale agreement or an acknowledgement from him for the amount paid to him.
This was just a booking amount and later once the things went sideways, he sent a mail confirming the booking amount but with clause of non- refundable . During our verbal discussion it was never decided that it is non refundable. It was discussed that it is refundable with 10% cut if I back out of the deal without any reason. But here in this case because he is not providing his documents related to his loan and Bank do not deal with the NBFC arka fincap they can not provide legal clearance and loan clearance for the said property. We applied to 2 banks HDFC and HSBC and both said the same thing. So we asked him to cancel the deal and return our money.
Asked 2 years ago
send email to seller that you had never agreed that booking amount would be non refundable
2) ask him to refund your money as deal fell through as seller failed to furnish documents of his loan
3) file police complaint against seller under section 406, 420 of IPC for cheating , criminal breach of trust
Terms of booking and if there is any agreement then same is required to be looked into. The issue is technical in nature and there is no fault on your part. You can file recovery suit and also consumer complaint.
Dear Client,
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Check the terms and conditions of the booking agreement. If the agreement states that the booking amount is non-refundable, then you may not be able to get your money back. However, if the agreement does not specify whether or not the booking amount is refundable, then you may be entitled to a refund. -
Contact the builder or developer of the project. The builder or developer may be able to help you resolve the issue with the seller. They may be able to convince the seller to return your booking amount, or they may be able to help you find another buyer for the apartment. -
File a complaint with the Real Estate Regulatory Authority (RERA). RERA is a government body that regulates the real estate sector. If you file a complaint with RERA, they may be able to help you recover your booking amount. -
File a civil suit against the seller. If all else fails, you may need to file a civil suit against the seller in order to recover your booking amount. This is a legal process, so it is important to consult with an attorney before taking this step.
Universally the buyer can't dictate his terms to the buyer. There has been defect in the seller's document and because of this lacuna , no law will approve that the buyer's advance money can be forfeited. Send a legal notice to the seller to forthwith return the amount to you. If there's no response from the seller, file recovery suit in the jurisdictional Court. Also, lodge a Police Complaint against the seller for cheating you.
- Since, you are cancelling the deal due to the fault of the seller , and hence the seller is under obligation to refund entire amount with 10% interest to you.
- You can send a demand legal notice to the said seller for the refund of the entire amount with interest
- If no positive response, the file a recovery suit before the court for getting the same .
- Further, you can also lodge a complaint before the police against him for the offence of cheating and breach of trust .
- Further, even if there is clause for non-refunding due to cancellation by the buyer , then also the seller is liable to refund the amount if the cancellation is caused by the fault of the seller.
If you have entered into an agreement you may visit the clauses in which the procedure for refund after cancellation of sale agreement would be mentioned, provided it is registered sale agreement.
You may issue a legal notice intimating your decision to cancel the agreement and demand refund of the booking amount., failing to comply with the demands made, you may sue the seller for recovery of your booking amount.
Yes it’s a proper remedy to cancel and seek refund
The email agreement is not legally valid, hence on the basis of his acknowledgment for receipt of money you may sue him for recovery of your booking amount for the reasons you rely upon.