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

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   Arshad
Tuesday, July 28, 2015 06:05 AM 
Reply: >
Dear members help required in serious matter.

Recently i sold my plot in prism all went good through a dealer. He gave me token and said that rest of the amount will be paid later at 15 July which was mentioned on written agreement.

But now many days are passed he is making lame excuses like "kal paka hojega khani" sometime he saying buyer has gone to his village.

So i want to know what are my rights after that as i dont know much about real estate.

whether i can cancel the agreement after this or just stick to it as a bad luck.

Thankyou


:h :h
Prism replied on Tuesday, July 28, 2015 08:24 AM 

Its very clear and abvious. Since the prices were / are increasing so he gavet you token from his pocket to lock the price and now he is searching for buyer. He will not only get commission but also the incremental gain of price increase from the day he locked the deal with you till he finds a buyer...
its a very simple yet cunning trick and most of the dealer are playing this to earn more...
Javed replied on Tuesday, July 28, 2015 08:45 AM 

Dear Arshad,

Legally, after 15th July, your agreement is lapsed. So you have all the right to forfeit the token or bayana. Say this boldly to your dealer.

TIP: Always give or take heavy bayana to fix the deal.
Tahir, NJ replied on Tuesday, July 28, 2015 04:09 PM 

Arshad! Prism has explained well and Javed is right. Hold tight; after 15th July legally as well as morally (your dealer has none) you are absolutely free now to sell or not to sell. The token money stands forfeited.
Arshad replied on Tuesday, July 28, 2015 06:03 PM 

Thankyou all for your comments
Mustafa replied on Friday, July 31, 2015 04:15 AM 

The first step is to report the incident to the DHA. Submit a written application to the DHa that this agreement was concluded in a token and the buyer did not show up on the decided date. However, your rights are dependent on the legality of your deal. Do you have a written agreement of the token, is the real estate dealer authorized for transactions is DHA, was it a confirmed token etc. It also depends on whether you want to wait or not. Its best to get additional guidance by talking to a credible person and visiting the DHA legal wing.
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