snowy

We entered into an agreement for sale with a buyer with 30 days as the time for completing the sale. The buyer was very convincing when we made the agreement for sale and said it will take only 15 days to finish the transaction. We are in a hurry to dispose the property coz we need the money for a marriage. Now the 30 days are over and even after 60 days the buyer has not payed the rest of the amount and we learned through reliable sources that he was unable to raise the required loan - but he is now telling his friends that he has 3 years to complete the sale transaction irrespective of the time mentioned in the sale agreement - we are desperate because we have only that land to sell for the marriage and we cant wait for 3 years. The buyer is not cancelling the agreement and moreover he is not even answering our calls. When we went to his house to plead with him, he refused to even see us. What can we do ? Is the validity of a sale agreement not the date on the agreement but 3 years irrespective of the time we agreed ? Then why do we even sign an agreement with a date ? Can anyone help ?

vbhish

I thinkThe issue has been settled now by courts of law, and the agreement to buy can be cancelled.

BTW - check if he has created a encumbrance by applying a new EC in your registrars office...

Nava

Me also struggling in the same problem. I also made a sale agreement with someone to sale my house. We signed the agreeement for 3 months and he gave me some advance payment. But now he is not showing intrest to buy my house. Already 3 months over.

Is it possible to sell my house to some other partly as the previous agreement time period elasped..?

If he is not willing to cancel the agreement and I want to sell it to some other party, then How to procede..?

Can anybody give me a advise..?

Nava

Hi Vbhish,

If he has got a new EC then What can he do with that..?

Nava,

abk

An agreement of sale would be valid for quite long,till the period the law of limitation applies and i think that is 12 years.i dont know of any judgement the courts have given as said in previous posts.as far as my expierience goes courts have ruled that time is not of the essence in land dealings.the agreement holder can claim a first right to buy.that is the reason we state a clause i n agreements that the seller has not entered into any previous agreement,this also is only abundant caution and cannot be ascertained with EC,the best possible way is to give him a notice under
specific performance thru court and then talk and settle him out of court.