Token money refund
9 months ago
Can I recover my token amount?
I gave a token amount of 6+14.70 lakhs for a property of 30 lakhs out of my ignorance. Seller stated that the property may not get a loan and offered NBFC loan from an agent for a commission.
I tried to take a loan from my account and an auditor informed that there are a lot of deviations and loan will not be approved.
I requested to seller give me more time to arrange the required amount but he denied the time frame as requested.
Due to some unforeseen circumstances I am unable to raise the amount and expressed my inability.
Seller initially agreed to return the amount after selling the property to someone else.
All this happened in a month and I have a hiden video n whats chat of receiving massage but i have no other documents e.i.sale deed or sale agreement all conversation recording stating he will return money once the sale is made. When I call he said next week we transfer your some amount but we haven't received yet
Consult with a Lawyer: It's essential to consult with a real estate lawyer who can review the details of your case and provide legal advice based on the specific circumstances. They can guide you on the best course of action to recover your token amount.
Review the Agreement: If you have any written agreement or contract, review it carefully to understand the terms and conditions related to the token amount, refund, and cancellation. Even if you don't have a formal written agreement, any documented communication or evidence of the seller's promise to refund the amount can be helpful.
Negotiate with the Seller: Try to communicate with the seller again and discuss your situation. Express your inability to raise the required amount due to unforeseen circumstances and request a refund of the token amount.
Send a Legal Notice: If the seller is not responsive or refuses to return the token amount, you can consider sending a legal notice through your lawyer. A legal notice typically warns the recipient of possible legal action if the issue is not resolved.
Mediation or Dispute Resolution: Depending on the laws in your jurisdiction, you may explore mediation or other alternative dispute resolution methods to resolve the matter amicably.
File a Complaint: As a last resort, if all other attempts fail, you may consider filing a complaint with the appropriate consumer protection or real estate regulatory authority in your area.
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