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What to do if builder threatens to cancel sales agreement? - Property Hotline
Posted
February 10, 2017
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February 10, 2017
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4:50Now PlayingExpert: Ramganesh Iyer, Fisdom
Question: I made down payment for an under construction property in Bengaluru in March 2016. The builder prepared the Sale Agreement in May 2016. The builder is threatening me to go to HDFC bank to avail loan or else the booking will be cancelled. I have valid receipts of payment, what all options do I have?
Answer: The builders are free to tie up with banks but the buyer is at complete freedom to take his/her own decisions. You have got no reasons for worry. No builder can force you to go avail loan from any particular bank, you are free to take loan from your preferred bank. The builder cannot cancel Sales Agreement arbitrarily unless violation of any condition. As you have all valid receipts of payments, you can always drag the developer to court.
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