Ongoing Delay In Possession Of The House - Do These Things Right Away To Sort It Out!
Admin August 03, 2018
Delaying in the possession of the property is like a nightmare for the buyers. Though no one wants to face this kind of situation but what to do if this actually becomes true? Being a common scenario these days, the two possible reasons of possession delay are -
- Pending approval from the municipal corporation or any kind of dispute.
- The developer is facing financial issues and the bank has also refused to fund the project further.
These two major reasons not only cause direct loss of money to the buyer but also make the person feel frustrated and depressed. Though this kind of situation causes major strain on finances, it never means that everything is lost. A lot many things can be done to correct the things if you are facing the losses related to property delay.
- Ask for the compensation - If the builder is constantly delaying in giving you the possession of the property, you are entitled to ask the builder for the compensation. This can only be done by ensuring a clause that governs compensation right at the time you enter into any agreement.
- Law is always there to help you - When you want to purchase a property for sale, you do have a right to file a complaint against the builder on the grounds of deficiency in service. A home buyer can even file a case if the possession is delayed just by a day.
- Refund Rights - Make sure to add a clause in the agreement at the time of purchase that complete refund will be provided if there will be any case of deficiency of services for a very long duration.
It is true that not getting the possession of your much loved property on time is very irritating, but it is good to face such situations legally without losing any hope. It is always better to be aware and have thorough knowledge about all the things to make a smart move!
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