Legal Question in Civil Rights Law in India
Cancelation of sale agrement
recently i signed on a new flat agreement. And i already paid Rs:4lakhs to the builder. now i want to cancel that agreement due to got sanctioned less amount loan. what is the process? shall i get back my money totally?
2 Answers from Attorneys
Re: Cancelation of sale agrement
as far as earnest money is concerned, as per the agreement that would be forfeited by the builder in case you do not perform your part of the contract. the only remedy is to file a suit for recovery on the ground that it was the builder who did not co operate you to procure the loan and seek the recovery otherwise your hard earned money stands to be forfeited.
Re: Cancelation of sale agrement
The refund will depend upon terms of agreement signed by you. Read your agreement carefully to find out the cancellation clause and refund / damage consequent upon cancellation.
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