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Broker is selling my property at higher rate to someone else

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Broker is selling my property at higher rate to someone else

Last updated: December 10 2012
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  • #71

    #71

    Re : Broker is selling my property at higher rate to someone else

    Originally posted by abc111 View Post
    Problem is that Broker will not keep his commitment if he is not able to find the next buyer before the due date.
    If this is the case then you have the right to forfeit his token money or still desperate for selling despite delay then ask for margin sharing from his tanka. You always have the choice to xxl the deal if payment time is not respected and if u dont see him finding a buyer.

    If broker is smart and pays as per comittment then let him have his margin without worrying much...if u do not receive money on time then you have the right to take advantage as well...ganda hai per dhandha hai..
    If thou wilt make a happy man, add not unto his riches but take away from his desires

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    • #72

      #72

      Re : Broker is selling my property at higher rate to someone else

      Originally posted by Bobbydel View Post
      If this is the case then you have the right to forfeit his token money or still desperate for selling despite delay then ask for margin sharing from his tanka. You always have the choice to xxl the deal if payment time is not respected and if u dont see him finding a buyer.

      If broker is smart and pays as per comittment then let him have his margin without worrying much...if u do not receive money on time then you have the right to take advantage as well...ganda hai per dhandha hai..
      Before keeping the token money; one has to send a legal notice.

      Taking the token usually does not happen.
      Brokers usually use every tactic to extend the timeline.

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      • #73

        #73

        Re : Broker is selling my property at higher rate to someone else

        Agree with you to some extent but this option has so many diverse possibilities that it wud b wrong to generalize..
        I have recently sold a plot in gr noida. I knew that token came from broker himself but the price suited me so i accepted. I told him watever he earns on top is deserved by him and i dont care. Now the final payment date came, he had paid 50% from his pocket but poor chap didnt find any buyer...i gave him some time...ten days after due date he completed approx 90% all from his pocket...and asked for another week to finish 10% which i accepted. The guy took a risk and could not sell , i am a bit flexible and accepted a bit delay in payment. He will not earn anything in this plot or even if he makes something it will b peanuts and that also after so much of investment from his pocket. He predicted market will go up but it didnt happen unfortunately...

        Now in my situation, even today the price has not gone up 2 months after the deal, i got nearly full money, i have nothing to complain, the poor broker had no luck.

        Now imagine situation 2 : had the price gone up by 10 lakhs and my payment delayed by 30 days , i wud have asked him for 50-50 profit sharing...why not ? He would have preferred sharing margin with me rather than spoiling the deal for delay on his part...had it been 5 or 6 days i wud have accepted on old price.

        Situation 3 : had the price gone up by 5 or 10 or 15 lakhs and he paid as per comittment date, i would have happily accepted his tanka which wud have been well deserved for his smartness and risk taking capacity...

        Situation 4 : had he been unable to sell n pay further after token, i would have forfeited the amount ( or returned token if i cud get a new buyer at higher price from elsewhere).

        Now present situation : situation 1 : the poor chap took a risk with no luck, plot unsold after 2 months so had to pay me full amount...even if he does sell today the price has not appreciated and his money will not come back before 2 more months...so it is a myth that broker always earns... He spent / invested 68 Lakhs for 4 or 5 months to earn Nothing...


        IMO it is difficult to generalize the things as it varies from case to case..each case will be different n each broker will be different
        If thou wilt make a happy man, add not unto his riches but take away from his desires

        Comment

        • #74

          #74

          Re : Broker is selling my property at higher rate to someone else

          Originally posted by Bobbydel View Post
          Agree with you to some extent but this option has so many diverse possibilities that it wud b wrong to generalize..
          I have recently sold a plot in gr noida. I knew that token came from broker himself but the price suited me so i accepted. I told him watever he earns on top is deserved by him and i dont care. Now the final payment date came, he had paid 50% from his pocket but poor chap didnt find any buyer...i gave him some time...ten days after due date he completed approx 90% all from his pocket...and asked for another week to finish 10% which i accepted. The guy took a risk and could not sell , i am a bit flexible and accepted a bit delay in payment. He will not earn anything in this plot or even if he makes something it will b peanuts and that also after so much of investment from his pocket. He predicted market will go up but it didnt happen unfortunately...

          Now in my situation, even today the price has not gone up 2 months after the deal, i got nearly full money, i have nothing to complain, the poor broker had no luck.

          Now imagine situation 2 : had the price gone up by 10 lakhs and my payment delayed by 30 days , i wud have asked him for 50-50 profit sharing...why not ? He would have preferred sharing margin with me rather than spoiling the deal for delay on his part...had it been 5 or 6 days i wud have accepted on old price.

          Situation 3 : had the price gone up by 5 or 10 or 15 lakhs and he paid as per comittment date, i would have happily accepted his tanka which wud have been well deserved for his smartness and risk taking capacity...

          Situation 4 : had he been unable to sell n pay further after token, i would have forfeited the amount ( or returned token if i cud get a new buyer at higher price from elsewhere).

          Now present situation : situation 1 : the poor chap took a risk with no luck, plot unsold after 2 months so had to pay me full amount...even if he does sell today the price has not appreciated and his money will not come back before 2 more months...so it is a myth that broker always earns... He spent / invested 68 Lakhs for 4 or 5 months to earn Nothing...


          IMO it is difficult to generalize the things as it varies from case to case..each case will be different n each broker will be different
          Your POOR BROKER does not loose in any of these cases.
          Even in the worst case he makes at least some money.

          What a risk free way of making money!

          There are two issues here -:
          i) Conflict of interest. Brokers usually don't declare that they are going to eat tanka. Often present dummy buyers.
          ii) The sanctity of contract.
          Normal person should follow it word by word and the broker does not care.
          Sending legal notices is the only recourse

          Comment

          • #75

            #75

            Re : Broker is selling my property at higher rate to someone else

            After investing 68 L if he does not sell for 6 months then how does he make money ?

            Had it been a bluffer with little token only i would have dealt wid him in another way but the guy is honest and pays full amount to me, i have really nothing to complain...rather i wish he earns something out of it..
            Again, just my pov....

            As i said , the experience will vary from broker to broker n case to case so no point generalising...

            Most of the so called agreements are just piece of shit with zero value n you can continue fighting for years with zero outcomes..
            If thou wilt make a happy man, add not unto his riches but take away from his desires

            Comment

            • #76

              #76

              Re : Broker is selling my property at higher rate to someone else

              If someone is selling a property means that he might be in need of money.
              And when the broker/financier keeps on extending the date it is extremely frustrating.

              So its always better to sell to MNC employee; professionals etc. and to ask for photo id proof , pan card.
              Last edited December 5 2012, 09:09 AM.

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              • #77

                #77

                Re : Broker is selling my property at higher rate to someone else

                Originally posted by abc111 View Post
                I don't understand why people think that brokers are like some big Godfathers who can't be touched.

                One of the brokers tried to con me like this.
                I didn't confront him openly but will surely take the revenge in some other subtle manner.

                This sucker broker community needs to be taught a lesson.

                This is a clear case of conflict of interest and these lechers should know that there are enough revengeful people who won't take the shit that easily.

                The BROKER will not honour the contract if he does not find the next buyer in 55 days.
                He will use every tactic to extend the timeline.

                And still people accept this as an acceptable way of doing business.
                What you are saying is correct. But in reality, persons like me are afraid of taking on these cunning thugs beacuse no rule of law exists in this country. Justice is given after a long delay thereby denying immediate relief to the affected person and the circumstances loses their relevance after some time. We could have rejected to pay pack the amount paid by them as part payment. But you never know, there are people who kill others for Rs. 10. How can you take risk?

                Comment

                • #78

                  #78

                  Re : Broker is selling my property at higher rate to someone else

                  Originally posted by cvs9903 View Post
                  What you are saying is correct. But in reality, persons like me are afraid of taking on these cunning thugs beacuse no rule of law exists in this country. Justice is given after a long delay thereby denying immediate relief to the affected person and the circumstances loses their relevance after some time. We could have rejected to pay pack the amount paid by them as part payment. But you never know, there are people who kill others for Rs. 10. How can you take risk?
                  Direct confrontation should best be avoided .

                  In case of some dispute;never meet them at their own place or at your home.

                  Call them at a neutral place and go with 3-4 relatives/friends. If one of them is a lawyer it would be better.

                  Comment

                  • #79

                    #79

                    Re : Broker is selling my property at higher rate to someone else

                    Originally posted by Bobbydel View Post
                    After investing 68 L if he does not sell for 6 months then how does he make money ?

                    Had it been a bluffer with little token only i would have dealt wid him in another way but the guy is honest and pays full amount to me, i have really nothing to complain...rather i wish he earns something out of it..
                    Again, just my pov....

                    As i said , the experience will vary from broker to broker n case to case so no point generalising...

                    Most of the so called agreements are just piece of shit with zero value n you can continue fighting for years with zero outcomes..
                    He will have the ownership of your plot. That is what is getting in return for the money he paid. No loss for him at all.

                    Comment

                    • #80

                      #80

                      Re : Broker is selling my property at higher rate to someone else

                      Originally posted by cookie View Post
                      its applicable on token amount too which many time paid in form of cash?
                      Token amount is unaccounted payment i.e. if a seller refuses to return it, there is no legal way for buyer to get it back.
                      'LIVE FOR INDIA'

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