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Author Topic: How long is "Near Future"  (Read 786 times)

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Offline ricky_

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How long is "Near Future"
« on: May 24, 2014, 03:32:20 AM »
We have undergone an agreement to sell our house(residential) to a party.  The agreement paper has got a term where it is written that "if either the proposed buyer or the proposed seller disagrees to carry on with the transaction IN NEAR FUTURE, then any kind of money advance made by the seller to the buyer has to be refunded to the seller".

We have received an advance payment about a month ago, and since then, the buyer has broken all contacts (not even receiving phone calls from us). This has made us confused as we cannot search for new buyers at this state.
If he comes back now (i.e, 1 month )and claims for the refund of the advance, what will be the proper thing to do?

They have harassed us for a long time in this way.

Looking forward for proper guidence.

Offline advmisthi

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Re: How long is "Near Future"
« Reply #1 on: May 24, 2014, 05:50:38 AM »
This could be a trick to make your property disputed, than the value of your property would become less than half.

it is never advisable to take advance payment. In property selling entire amount is to be taken in one go and registration done the same day.

property selling is not easy, if u don't. Have experience u will land up getting cheated badly
Adv.Misthi Mukherjee
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Offline ricky_

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Re: How long is "Near Future"
« Reply #2 on: May 24, 2014, 09:46:52 AM »
1."it is never advisable to take advance payment."

Pardon me for not making things really clear. The advance that we took is for providing with the land documents so that they can carry on the searching process and is only 10,000/-.

Does your statement :-"This could be a trick to make your property disputed, than the value of your property would become less than half." remains same after hearing this?

2. Even if the value of the property becomes less than half, does it become mandatory to sell the property at that value- or the transaction can be cancelled?

 

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