Questions & Answers
Rescinding a property reservation agreement and getting refund
I have purchased a property in Dubai in Dec 2017 by putting a 30% deposit of the purchase price to the Developers account and received the reservation form and receipts only.
However, I still do not have the SPA or OQOOD as of Aug 2018. The developer has been saying the SPA templates have been getting delayed at DLD.
Per the reservation form, I have an upcoming payment in Sep 2018, however, I do not want to pay this as I still don't have the SPA or Oqood which is my legal document and there is no escrow account per DLD website.
What is my legal position here and how can I get this resolved or can I get refunded given there is no contract as yet?
Please guide
Dear Questioner,
With reference to your inquiry, kindly be informed that, as per the given info, you shall have the right to rescind the Reservation Agreement previously entered into by and between yourself & the developer.
But in order to confirm the same, we shall require reviewing the said Agreement firstly. This is on one hand.
On the other hand, we might try to serve the developer a Legal Notice prior to resorting to the competent court. It is very likely to have a positive effect.
Anyhow, for reasons of confidentiality, please contact us via (elkhatib.legal@outlook.com) or (+971 505050 835) so as to proceed further.
Kind regards.
Verification and review of the agreement and ancillary documents are necessary to advise on the best solution in your situation.
Feel free to reach me to advise you better at the earliest.
+971527520742(call/Whatsapp)
