Pre-sanction letter

Querist : Anonymous (Querist) 08 October 2011 This query is : Resolved
hi
Sir i have sold my property at Dombivili (maharashtra) for around 19 lacs, the purchaser have payed my around 5 lacs in cash & further he told me that he will pay me by loan he has shown me a pre-sanction letter of IDBI bank which was written on 13 july and we have done registration of the flat and all necessary NOC have been obtained from the society but he still have not received the loan amount and he today told me that after 90 days his pre-sanction will be unvalid and again he have to make a pre-sanction letter so can he take away my property without giving me loan amount as i have not given him the possession of the flat and can i still cancell the registration as i have not received the loan amount ?

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ajay sethi (Expert) 08 October 2011
remember one thing in life . never enter itno agrement with purchaser unless all documents are in order. if you have given NOc of society then bank ought to have disbursed loan .
what are clauses of your agreement in event purchaser fails to make payment on time ?

does it provide that payment can be made with interest . ?

Raj Kumar Makkad (Expert) 08 October 2011
Registration is the last document which is executed only if entire payment of sale consideration is paid by vendee to vender. You got this merely believing on his assurance. You made blunder.

Many person remain searching fool persons like you. Now you have no option but to retain your possession over your property and file a criminal case against him under section 420 IPC and a civil suit to declare sale deed as null and void and obtain immediate stay order against your forceful eviction therefrom.

Shailesh Kr. Shah (Expert) 08 October 2011
Do Following:-
1.File civil suit for cancellation of sale deed.
2.Take stay order against eviction from property.
3.lodge FIR.

prabhakar singh (Expert) 08 October 2011
Yes ,It is Mr. Makkad ,who has rightly understood your problem,you have made a sale deed even without receiving consideration agreed in hope of loan,what was the hurry???And now is the worry.
first request him personally to cancel the document by registration and if he does not agree then with out loosing any time file criminal as well as civil suit as advised by
Mr. Makkad.AND NEVER LOOSE YOUR POSSESSION AS THAT IS THE ONLY CIRCUMSTANCE FAVORING YOUR VERSION OF CASE.

Shailesh Kr. Shah (Expert) 08 October 2011
Do Following:-
1.File civil suit for cancellation of sale deed.
2.Take stay order against eviction from property.
3.lodge FIR.

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