أسئلة وأجوبة
Can I claim compensation from the property seller if he fails to provide documents before it expires?
I signed an MOU for buying a property that is already evaluated and the mortgage paperwork was started by the bank.
The seller found excuses for health issues to fulfill the signing required liability letter and buyout documents. The MOU will expire on 23/03/2024.
I will request the seller to extend the MOU due to being non-collaborative in providing the documents.
"Should this agreement be determined for a non-performance or negligence of any terms of this agreement by the seller, or for any reason attributable to the seller, the seller understands and agrees that the buyer has the right to obtain the security deposit amount.
The buyer shall not be entitled to take any further recourse against the seller for any compensation of damages/losses that exceed this amount. The seller shall deliver copies of the SPA, floor plan, statement of service charges, and Title Deed. "
If the seller refuses to extend the MOU, do I have any right to claim any compensation due to increased pricing on the market?
T.
Dear Inquirer,
We are pleased to serve you and address your inquiries.
Please be advised that you cannot claim compensation upon the expiration of the MOU.
All you deserve is what is stipulated in the MOU, which is the amount of the security deposit only as you agree to waive your right to claim the compensation in question.
If anything else is required, don’t hesitate to contact us via email or call our offices in Dubai or Sharjah.
Jasim Al Haddad Law Firm Legal Counsel and Consultations
Yes, if the seller refuses to extend the MOU because of his fault you have the right to claim compensation for the damages and the value of the deposit which is duly mentioned in your MOU.
In order to advise you properly, we need to review the MOU as well to check the terms and conditions.
Kindly share your WhatsApp number for further discussion.
