Questions & Answers
How to terminate the SPA of a property and claim refund for delay
I have purchased an off-plan property from a Dubai based developer. The project is delayed and not yet completed and the DLD App is showing 85% progress.
As per the SPA, handover date is Q2/2018. I've sent 2 delay notices already during the last years, to the developer as per the SPA.
The developer verbally informed me that the Building Completion Certificate is planned in November and completion notices due on December 2020. This cannot be trusted as last year they informed the same.
Further, the developer's agent is just saying now I can't terminate the SPA since the progress achieved is more than 85% - as per the UAE property Law. This is not in line with the SPA as per my understanding.
40% of the apartment amounts are paid timely and in full together with 4% DLD Fees. Balance 60% is due only at the handover.
Currently, I want to terminate the SPA and obtain a full refund. Please advise legally how to take action on this requirement?
Thank you and waiting to hear from you.
Dear questioner,
You can definitely terminate the mutually signed SPA as the developer has defaulted on its basic duties by delaying the handover of the property.
Further, we need to review the SPA in order to assist you properly.
Kindly contact us directly for a detailed discussion on your issue.
If need be, kindly contact us by phone for a detailed discussion or write to us at our email for further assistance.
Dear Questioner,
Based on our history in real estate cases against the developers and winning multi cases, we would like to inform you that we can definitely assist you to cover your money back which you paid to the developer.
Moreover, we can claim reasonable compensation for you due to the delaying the handover the project.
We ask you initially to provide us with the following:
- Copy of the SPA;
- Copy of the receipt proves the total amount has been paid to the developer;
- Copy of the 2 legal notices you already sent to the developer.
Send at our email address in order to provide you with the relevant legal advice.
Thanks.
