Sale of flat

Gane (Querist) 12 July 2013 This query is : Resolved
1. My flat is in a registered society. I had planned to sell the same. Our neighbors were the 1st to express interest. However, due to some misunderstanding in the financial terms, the deal didn't materialize. They in turn had sent us a lawyer's notice accusing us of breaking the deal. There was no agreement, nor transfer of any documents (except a xerox copy of the sale deed was given to them to get a home loan),that was effected. And also, post our response to the notice through our lawyer, there was no further response. On checking with our society chairman, it seemed the party didn't want to proceed further with the notice. Can we proceed with selling the flat to other buyers as we don't the new purchaser to be impacted with the legalities in future.
2. Also, one of the prospective buyer is asking for the sale agreement to be done on his name to effect a home loan (we had already given him a xerox copy of the current sale deed to help him to get a home loan). Please advice us on whether agreement has to be done to receive the home loan cheque? And what if the purchaser, doesn't pay us post agreement? Would the sale be still effective and valid?

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