We have undergone an agreement to sell our house(residential) to a party. The agreement paper has got a term where it is written that "if either the proposed buyer or the proposed seller disagrees to carry on with the transaction IN NEAR FUTURE, then any kind of money advance made by the seller to the buyer has to be refunded to the seller".
We have received an advance payment about a month ago, and since then, the buyer has broken all contacts (not even receiving phone calls from us). This has made us confused as we cannot search for new buyers at this state.
If he comes back now (i.e, 1 month )and claims for the refund of the advance, what will be the proper thing to do?
They have harassed us for a long time in this way.
Looking forward for proper guidence.
