Q: I signed a Memorandum of Understanding. The buyer has not given a security deposit or signed it yet. Can I sign another MOU as the buyer has not replied? A: It depends upon the transaction and the signed document. If the booking deposit is paid by the buyer, then you have to return the same…

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Signed MOU with no response from buyer: Can I pursue another offer?

Dear sir/madam,

I signed a Memorandum of Understanding (MOU), but the buyer has not given a security deposit or signed it yet. I received another offer.

Since I signed only a hard copy (not online), can I sign another MOU as the buyer has not replied?

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Khaled Ebid

Laila Hamza Al Mulla Advocates and Legal Consultants

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4 Feb 2023, 12:42

Dear questioner,

You must be informed first so that he does not file a compensation claim against you while giving you a period of two days to pay the guarantee amount.

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Mohamed Bakheet

Mohamed Bakheet Advocates & Legal Consultants

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6 Feb 2023, 18:08

Dear questioner,

Yes, you can sell it to the other buyer.

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Maryam Alyassi

Maryam Alyassi Advocates and Legal Consultants

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7 Feb 2023, 06:20

Hello,

As per your query, please note that it depends upon the transaction and the signed document.

If there are clauses then, you should notify the existing buyer. However, if the booking deposit is paid by the buyer, then you have to return the same, and it will be as per the clause in the agreement signed.

7 Feb 2023, 06:20

Kindly contact us via phone or email for further assistance.

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