Expiry of Sale Agreement
We have made a deal to purchase land which costs 34,58,000/- and made a registered sale agreement for INR 2,50,000 on stamp paper on 9/10/2015. the agreement has following clause
1) if the seller doesn't provide required documents and failed to sell to the buyer in the 3 months the seller should pay the penalty 200% of the registered amount.
2) if the buyer doesn't buy the land within sale agreement period the 100% agreement money will be forfeited
my concern is:
1) We went to seller many times to collect the required documents to apply for home loan but he failed to give the documents to us.
2) After 3-4 months we asked him to give our money back and he is denying to pay and send the notice that according to sale agreement he has rights to forfeit money and he can sell to others.
3) we don't have money to buy the land now as we have spent the amount to purchase other property.
4) if we go to court what are the charges for filing the suit and what could be the judgement?
quick help will be appreciated.