I entered into 'Agreement For Sale' with a buyer for my apartment, which wasn't registered , just done on a stamp paper. The buyer paid 10% advance and wantesd to take out a loan to pay the reat of the amount. We gave him the xerox copies of our documents and he got a loan sanctioned from ICICI bank. Now the bank made DD in our names but the buyer backed out at the last moment . Three months have lapsed since the agreement to sale and we had the agreement to close the deal in two months. We have agreed to cancel the deal and we are preparing an 'Agreement to Cancel' to cancel the sale agreement. However since the DD was already issued in our name has the lien been created already? Will we have difficulty selling it in the future if the buyer doesn't cancel the loan with the bank and pay his dues?
