Token advance amount not returned

SAMEER Mullan (Querist) 26 January 2022 This query is : Resolved
We liked a villa and dealing was done through agent and builder manager. According to the Bank details given by them I transferred Rs 50000 as token advance to Property owner to confirm our genuinity. Before transferring they promised us on verbal agreement that amount will be returned if we are unable to proceed due to any reasons. But even after fund transfer they did not provide us owners contact details and asked to deposit 50k more and later 2 lakh to get it done on stamp paper .and then it was 5 lakh . We felt there was no transparency in the dealing and also due to delay in sale of one of our property we called off the deal within 10 days of amount transfer. They even took our bank details to return token advance amount. But it’s been more than a month and they have blocked our phone numbers and not responding well and putting the blame on us That due to us owner lost other interested buyers. What am I supposed to do?

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A buyer paid a token advance of Rs 50,000 for a villa based on a verbal agreement that it would be returned if the deal couldn't proceed. However, after the payment, the seller's representatives became evasive, demanded further substantial payments, and failed to provide the owner's contact details. When the buyer cancelled the deal within 10 days due to lack of transparency and a delay in selling their own property, the seller refused to refund the advance and has since become unresponsive. Legal advice suggests serving a legal notice and potentially filing a police complaint for cheating.

P. Venu (Expert) 26 January 2022
In the absence of a concluded contract, the agent is obliged to return the amount advanced. You may serve a legal notice seeking return of the amount.

kavksatyanarayana (Expert) 26 January 2022
Yes. Follow the advice of the above learned expert Mr.P.Venu sir.

SAMEER Mullan (Querist) 26 January 2022
Thank you so much for your kind reply Sir

krishna mohan (Expert) 02 February 2022
You can take the help of a local lawyer to file a police complaint as cheating with available proof so that they are forced to complete the transaction or refund. Legal action you can resort to based on th outcome of police complaint.

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