Ashok Govilkar 09 December 2018

Token amount return by myself (seller)

Hi all, I recently negotiated a deal to sell my apartment and took a token amount from the buyer, everything was verbal and no document was signed. Afterwards I decided to not sell the flat and I returned the token amount along with interest and also offered to the buyer to pay 10000 extra for any hassles he may have faced. But the buyer is demanding 70 thousand saying that he liquidated his FD,s prematurely to pay me during the agreement which was to be done next month, also he sold his gold to pay me future installments. Am I legally liable to agree to his demands considering the fact that not a single piece of paper has been signed

Reply Follow

13 Replies

Suri.Sravan Kumar (senior) 09 December 2018

Any eyewitness to the said transaction?

Ashok Govilkar 09 December 2018

By transaction do u mean negotiations, yes a friend of his was present when the total amount was decided verbally, but the transferred the amount via online banking 4 days later.

Ashok Govilkar 09 December 2018

Token amount of 1 lakh was transferred by RTGS 4 days after the negotiations of the total amount, I repeat not a single piece of paper is signed about the deal, only paper ad was given to get the title clear report , but the ad doesn't mention to whom flat is being sold , it just mentions that this ad is to confirm that I have all the rights of the said flat

Suri.Sravan Kumar (senior) 09 December 2018

you need not pay any extra amount to him in addition to the amount you promised to pay.

Ashok Govilkar 09 December 2018

Even if there was a eyewitness to the negotiations? I am sorry about asking this again ,because the other party is going to come to my house tomorrow for settlement and I am a lone senior citizen with medical condition ,hence very anxious . I need to take a firm stand , I am ready to pay what is legal but don't want to surrender to extortion.

Ashok Govilkar 09 December 2018

His lawyer is trying to put a pressure saying that it is my moral responsibility to pay him what he asks for

Suri.Sravan Kumar (senior) 09 December 2018

Nothing to worry take full satisfaction letter from him. pl share your email ID I will send full satisfaction letter to you.

Ashok Govilkar 09 December 2018

ashok.n.govilkar@gmail.com, thank you sir for u r kind guidance

Suri.Sravan Kumar (senior) 09 December 2018

test mail sent. pl reply

Ashok Govilkar 09 December 2018

Reply sent

Ashok Govilkar 09 December 2018

Reply sent

Siddharth Srivastava (Advocate) 09 December 2018

demand of buyer is illogical and baseless. the terms of agreement shall prevail and shall govern the transaction. the written communication can also be valud. you are neither bound nor obligated to meet such unreasonable demands.

Ashok Govilkar 09 December 2018

Thanks for that sir, but as I said there is not a word of written communication as far as agreement or deal is concerned, some WhatsApp messages do exist which mention his willingness to buy the flat.i had a word with his lawyer he said that it's in my interest to settle or he may slap a case , any point could be raised to slap a false case just to pester me, I am a bit worried about that sir