Questions & Answers
Possibility to refund property down payments for handover delay
I bought 2 off-plan properties in Dubai, a 2-bedroom in one project and a 3-bedroom in another.
I paid the Oqood and the 10% downpayment and then due to no financial liquidity, did not pay the payment plan which is 40% up to construction and 60% thereon.
I explained the situation to the developer via email and in-person meetings and I asked them to refund 50% of what I paid or consolidate both properties to make it easier.
Many other options are given but they did not cooperate for over 3 years.
The projects were delayed in delivery/handover. One was delivered later than committed and the other had to be delivered by 30-dec-2020 but even that till Jan 2021 was 68% done.
I have my life savings stuck in this horror deal since 2017 august and want to get out with something in my hand.
What can be done?
You can reach our office for a one-hour meeting and we can discuss your case.
Kindly note that such a situation needs a deep understanding of the parties' positions, along with the full study of the relevant documents.
If you are interested to achieve good progress with your case, kindly reach out to me by email.
Hello,
You have mentioned that one of the projects has already been completed (though there is some delay in the project).
Also, one of the projects is not completed yet and there is completion till 68%.
So in this scenario, you have to check the SPA and the clauses for termination of the agreement only for the incomplete one.
Further, since the first one has already been completed, was there any handover of the same?
If you want to terminate the incomplete project's agreement due to delay and non-completion, then it should be as per RERA laws if there are no such clauses mentioned in the agreement.
Please contact us by email or phone.
