As is where is condition
ajeet bhandari
(Querist) 12 October 2009
This query is : Resolved
Recently i had bought property sold by bank through auction . Constructed building is 5 floor.I had already paid 25% towards cost of property.
Now i understood that building constructed on it is Unapproved and Unauthorised.Unauthorised construction was not mentioned by bank in there advertisement of auction Where as they had mentioned "As is where is Condition".Now i understood that only 1+1 Floor is approved construction.So please please suggest me remedy for this problem and let me know the defination of As is where is co9ndition.
joyce
(Expert) 12 October 2009
Which Bank that is ? whether nationalised or a private bank? Whatever may be you can sue in court of law by filing the ciminal case [fraud committed on you] aganist the bank MDs, what are the other conditions they imposed did you go thru it propertly? state the conditions also so that some other legal remedies may be adviced.
A V Vishal
(Expert) 12 October 2009
Mr Ajeet
The principle termed as ‘caveat emptor’ means ‘buyer be aware’. Generally, buyer is expected to be careful while purchasing the goods and seller is not liable for any defects in goods sold by him. This principle in basic form is embodied in section 16 that subject to provisions of Sale of Goods Act and any other law, there is no implied condition or warranty as to quality or fitness of goods for any particular purpose. As per section 2(12), “Quality of goods†includes their state or condition.
Apart from this it is presumed that you have scrutinized the legal documents including the sanctioned plans etc to your full satisfaction before participating in the bid. In such circumstances it is difficult to retract from the contract at this point unless it is proved of fraud / misrepresentation of facts.
Sachin Bhatia
(Expert) 12 October 2009
Under the doctrine of caveat emptor, the buyer could not recover from the seller for defects on the property that rendered the property unfit for ordinary purposes. The only exception was if the seller actively concealed latent defects.
As you said have not paid full ammount so far, so you can negotiate with the bank on this issue.
A.P.Manoranjan
(Expert) 12 October 2009
Mr.Bhandariji,
Please make an application in the District Consumer Forum for Deficiency of services by the Bank.It means that they are selling an illegal/unauthorised Flat which is not eligible to sanction loan at the First instance. In order to coverup their deficiency the Bank has not disclosed the fact and you are liable for refund alongwith costs.
