Seller refusing to return advance
10 months ago
Hi Sir,
I have given advance of 5 lakhs for a flat worth 47 lakhs. And for the remaining I have applied for a home loan in ICICI. This property is registered mortgaged by the seller in AHFL. The seller promised to release the documents from the AHFL when my loan is sanctioned if balance transfer is not possible. Now my loan is sanctioned by ICICI bank and they are asking me to have the seller close the loan in AHFL and bring the original documents, but the owner says he is not having enough cash to close the loan at the same time he is forcing to take loan in AHFL or any other housing finance . I am only willing to take loan from ICICI bank and this is communicated prior and agreed by seller now he is not willing to close the loan OR return my advance.
My parents also requested him very much as interest rates in AHFL is very high . he is not agreeing.
I Belive he has no right to force since choosing bank is buyers choice.
In sale agreement it is mentioned if any litigation identified during bank loan approval process advance amount to be returned he agreed and signed it.
Now he is arguing with me mortgage is not litigation .
We used litigation in the sense any issue/dispute he is very much arguing and i felt like cheated . My advance amount stuck with him . Need your suggestions
ICICI bank says, they cannot do a Seller Balance transfer as the property is registered mortgaged.
Kindly let me know
In the given situation, if the real estate project is registered under RERA, make a complaint against the Seller/Promoter stating all the facts which amounted to deficiency in service and unfair trade practice so far the condition of the Agreement to Sell is concerned for redressal of your grievance. Even it is not registered under RERA, still you can make a complaint before them for a resolution. You can also file a Complaint u/s.35 of the Consumer Protection Act, 2019 before the Dist. Consumer Court against the Builder/Promoter for deficiency in service and unfair trade practice claiming refund of advance as per the terms of sale agreement along with compensation for harassment and mental agony. In case you need any assistance for filing the complaint before the concerned Authority(RERA) or Consumer Court, you may contact our legal team along with relevant papers.
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