أسئلة وأجوبة
Refund of a deposit paid by the buyer of a real estate property
Hi,
I had signed an MOU to buy an apartment. I had the following clause in the MOU:
"This sale purchase contract is subject to the final approval from the Buyers Banks"
My mortgage has been rejected by one bank. While I was processing my mortgage with another bank the MOU expired and the seller is not willing to extend the MOU. Can I claim my deposit check back from the agent?
Thanks,
Dinesh
Dear,
If the said clause is included then you may claim the refund. However, the rest of Clauses of the agreement should be read with it. If a limitation period is provided or any clause negating the said clause and the Agent is refusing to cooperate, then the same would be settled by the Court of Competent jurisdiction.
To advise you more appropriately, a full agreement needs to be reviewed. If you are interested to take forward and to understand your rights, just send a message and we will provide you details of one of our expert lawyer.
Regards
