Hi all,
I have sold my house 1.5 months back and got three months time to empty the house. Got 10% of the selling amount as a deposit from buyer and i have signed on the stamp paper which states that if i refuse to sell later on, i need to pay back the buyer 20% (10% deposited amount plus 10% extra) amount of the selling price. Now, i have changed my mind and don't want to sell my house due to some unforeseen circumstances. Is there any legal way that i can do this safely without paying extra money to the buyer?
And why would you want to do that. You have signed on a commitment, honour it? why you want to be selfish, think about the buyer's feelings too.
Either vacate the house or pay back the double amount, otherwise your house's title will be under litigation for a long time and you wont be able to sell it until the litigation ends,
one other way is to sit down with the buyer and beg him to let go
Oh, come on, Be Honest,behave Gently and don’t be selfish! The Lesson for Us(others) is that always follow the legal process whenever you make any deal with anyone, and do trust anyone.
Morally and legally u are bound to handover the house as per the commitment and tge only way to go about it is to sit and convey him your decision and decidr everything with mutual consensus to avoid any litigation.
Either sit with the buyer and explain to him. If he understands and willing to let go than fine otherwise you should pay him double
Nothing you can do unless buyer forgive you.
You not only used buyer's money for 3 months you are also causing psychological pain to the buyer. Think if he has family and kids who are probably excited and expecting to move in to their new home. And now you have killed all their hopes and plans.
If I was in your place, I would honor the dealer. If not I would give him 20% and tell him to take his family on vacation somewhere nice.
After all money is not everything in this life. If you have feelings about this house, least you can do is understand other people's feelings too.
Everyone is talking here about feelings and moral values, I feel no one care about these things now a days.
Regarding your question there is only one solution, which is just follow the terms of the signed contract, you have to return him the double amount or sell as per agreed price.
I am 100% sure there is no other solution.
Nice your issue
Hi,
My message to those users, who are thinking that I am being selfish here, not showing honesty, and not thinking of buyer's feelings, please read my question carefully, I have asked that is there any legal way to revert my decision without paying extra money. I have no intentions to violate the law or to deceive someone. How come you guys think that I am dishonest by asking a legal way of reverting my decision, come on don't be judgemental. Obviously, if there is no legal way around it, I am bound by the commitment that I have made.
To those users who suggested me to talk to the buyer and convince him to let it go, I had this in my mind and will definitely go for it. Thanks very much for your valuable suggestions and not being judgemental like other users.
Thanks,
Baber.
For legal position, please consult any legal expert (advocate)
An agreement is over (unless the legal heirs are included) upon Death of any one party, Revision of the agreement with mutual consent etc
You better negotiate with him, he must understand
HOMESCON Pvt Ltd
03089114000
Your agreement is legal document, you have to follow its terms and conditions. The only way is to sit with the buyer and resolve the matter. Going in court is not in your favor, court may order to honor the agreement or pay penalty. No one can get you out of your home forcefully, nor court will order it.
prof. Saeed a rana.
03335444044.03064944422