Refund of earnest money after cancellation of sale deed
This property deal is through a property dealers. We made a sale agreement with the seller of the property by making an earnest/part payment of INR 10Lac as I wanted to buy the property. I told the seller that I would need 80Lac of home loan to purchase the property and property dealer said that I will get it as he would help. I gave the required documents to bank to process the home loan of INR 80 Lac which they were not able to provide me as per salary and other factors. I informed this to the seller and asked him to return my earnest/part payment of 10 Lac to which he said he will go as per agreement of sale. I then noticed that there is a clause that states if seller cancel the deed buyer will be liable to get double the advance amount paid and if buyer cancel the deed seller has the right to forfeit the advance amount paid. Now as I am unable to get the home loan of 80Lac due to which I am unable to proceed. I requested the seller to sell his property to anyone else and return my money but he is just asking to arrange and buy the property. What can I do to get my money back or any other suggestion that would help me get my money back.
Regards
Sunil