1. Review Your Sale Agreement
Check the Offer to Purchase (OTP) or sale agreement to see:
Payment terms and conditions
Default clauses and penalties Remedies available for non-payment
If the buyer has not fulfilled their payment obligations, the agreement may allow you to:
Cancel the sale and reclaim the property Claim damages (e.g., loss of income, legal costs)
Charge interest on overdue payments
2. Issue a Letter of Demand
If the buyer is in breach, send a formal Letter of Demand giving them a deadline (e.g., 7–14 days) to pay. This letter should be drafted by an attorney for legal weight.
3. Check if the transfer process is complete
If the title deed is still in your name, you may have more control and can halt the transfer. If the deed has already been transferred, you will need to take legal action to recover the unpaid amount.
4. Legal Action Summons & Court Claim:
If the buyer ignores the Letter of Demand, you can sue for the outstanding amount in court. Eviction (if necessary): If the buyer has taken occupation without full payment, an eviction order may be needed. Attachment of Assets: If the buyer cannot pay, the court may allow you to seize assets to recover your money.
5. Consider Mediation or Arbitration
If you want to avoid lengthy court battles, a mediator or arbitrator can help negotiate a settlement.
6. Use Debt Collection Services
Hiring a professional debt collection agency can help recover the money faster.
Would you like help finding legal assistance or a debt collector in your area?
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