Questions & Answers
Law provisions regarding the delay in property handover
If anyone can please assist, I heard about a commercial/construction law that if a developer is late by 1 year from date of handover agreed in the contract, then the purchaser has the right to terminate the contract and be refunded for any payments paid to the developer.
Does anyone know what is the clause of this regulation?
Many thanks
Dear questioner,
We can definitely help you in this case. We need to review your SPA in order to comment further.
Kindly contact us on the phone for a detailed discussion or write to us at our email for further assistance.
We would like to inform you that the purchase contracts with developers differ from each other, and each developer has certain conditions.
Unfortunately, most of the buyers do not check these contracts correctly.
Therefore, to ensure you have correct and useful legal advice, please send the agreement to the email or arrange an appointment by phone.
Dear Questioner,
Please be informed that there is nothing in the federal real estate law no. 13/2008 mentioned that if the developer is late for 1 year from the date of handover agreed in the contract, then the purchaser has the right to terminate the contract.
Why it is not mentioned, because each developer has different contract, terms and conditions which the buyers have to comply with.
However, please email us a copy of the SPA in order to check it, then we can inform you if you can file a case right now or later or no way to sue them.
Thank you.
