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How to cancel an off-plan property contract and get the paid money back?

Hi,

I bought an off-plan property from a developer in November 2022 and signed a sale and purchase agreement (SPA).

The handover is scheduled for 2026, and I have paid 20% of the total amount. However, my financial situation has changed and I can no longer afford to make the payments.

The developer has informed me that if I cancel the contract, I will forfeit my deposit and be liable for cancellation fees.

I would like to know if there is any legal way to cancel the contract and get my money back from them.

متميز

أحمد أميري

أميري محامون ومستشارون قانونيون

دردشة

توظيف

اجتماع

14 May 2023, 14:02

Dear Questioner,

What is the percentage of completion of the project?

14 May 2023, 14:04

It is 0% actually.

14 May 2023, 14:19

Dear Questioner,

If the sale is off-plan, and the developer has not started work after 6 months of granting government approvals, the developer does not have the right to confiscate what you paid to him, and you have the right to claim back the payment from him.

14 May 2023, 14:40

Thank you very much for your advise.

Much appreciated!

هل هذا المحتوى مفيد؟

متميز

شمسة البدواوي

شمسة البدواوي للمحاماة والاستشارات القانونية

دردشة

توظيف

اجتماع

15 May 2023, 13:42

Hi,

Pursuant to your query, you will need to check the termination clauses in the SPA.

Generally, developers include termination clauses that are beneficial to them. Therefore, it is advisable to check the termination clauses in the SPA and make a decision accordingly.

هل هذا المحتوى مفيد؟

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