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Lahore Real Estate Forum: Property News & Community Talk : ,

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   Ayesha
Monday, May 4, 2015 02:25 PM 
Reply: >
Dear brother CMY MAY ALLAH HELP U...need your help...
I bought a 1K file last year in 46 lacs
Two weeks back seeing the price hike and on advise of a dealer i decided to sell my file for 56 lacs and buy a file each of multan & gujranwala dha as long term investment. The dealer did not give me any advance or token but deal was struck verbally .....During the same period the prices started rising n i told the dealer that i have changed my mind. Now the dealer has started threatening me that i can not break out.... i only gave them copy of my allocation letter and copy of CNIC.....no token no written deal ....i know i am backing out from promise but it is hard earned money of late husband n i want want to save for my kids please advise me what should i do as he says that my file will be blocked plz plz plz help
ZM replied on Monday, May 4, 2015 02:31 PM 

Dear Ayesha,

Just tell the dealer not to bother you, and complaint to the DHA if he is still bothering you. The deal is only locked on terms of biana after it is paid in full. You are actually not backing out.
wj replied on Monday, May 4, 2015 02:36 PM 

As advised by ZM... you are safe... and nothing to worry... dealer can do nothing on basis of NIC/Allocation letter copy.

If dealer threatens you than you can also threat him that I am filing official complain against you in DHA and police for harrasment.

Thanks

wj
SIM replied on Monday, May 4, 2015 02:43 PM 

As long as there is no documented token or biana, both the buyer and seller have the right to change their mind.
CMY replied on Monday, May 4, 2015 02:51 PM 

Ayesha if you have not received any token or advance money dealer cant do any thing. Dont worry. He is bluffing.


If you agreed verbally to sell a file at agreed/decided price and a transfer day but without receiving any token or advance money than it may be your moral duty to complete this deal no mater where price is today. I dont think deal can be locked without token by any sensible dealer.

If you just told dealer to sell a file at 56 but he never locked the deal with a final price and transfer date and never gave you any token or advance money dealer cant do any thing. A price and date of transfer and token also called advance money is must to lock the deal. Once deal is locked its hard to back out even with small token. A dealer go to court and use smallest token money amount to get stay order in Rs 2000 to block file for months to come. No token or advance dealer cant do any thing at all.

Choudry Mujahid Yasin ( CMY )
jamz replied on Monday, May 4, 2015 03:15 PM 

No token / Biyana means no deal happened - share number of dealer and let us threat him :D
Navid replied on Monday, May 4, 2015 03:39 PM 

Yes, no token means no deal....even if you get some amount in token and u back out, u r required to pay back double of it morally and ethically
CMY replied on Monday, May 4, 2015 05:33 PM 

Navid I agree strongly. I will add legally too in hare with morally and ethically
Tahir replied on Monday, May 4, 2015 07:41 PM 

CMY is correct 100%, from all aspects of our life.
baba g replied on Tuesday, May 5, 2015 04:15 AM 

Aoa all,

in jan 2015 I told my dealer to sell my plot fixed a price, dealer took the token on my behalf,just before the signing of agreement(biana), i backed out.before backing out i checked with DHA lahore, they told me the plot is your until you sign sale certificate.lots of verbal discussions threats and finally i got stay order on my plot from court and a Caution from DHA lahore, which this buyer has got based on the stay order from court.
My dealer is my friend he is with me,my lawyer replied to the court that according to (law 711) agreement does not completes until signed by both parties.and the case is going on but the case is week .I m not in a hurry as ph8 is still no possession. but I am sure INSHALLAH I will win the case. though morally it is not good to do as what i have done, but it is my legal right. I apologized to all and was willing to double the token.
this information may help anyone.
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