Questions & Answers
What if the broker didn't collect the deposit cheque, and the seller wants it?
Dear Sir/Madam,
I have a question related to a real estate transaction in Dubai. One of my clients signed an MOU but couldn't complete the deal on time, and the MOU has now expired.
The owner wants to claim the deposit, but unfortunately, I did not collect the deposit cheque from the buyer; he only sent me a picture of the cheque at the time of completing the MOU.
So, my question is, what consequences might I face for not collecting the cheque from the buyer if the seller takes legal action to collect his 10% deposit?
What are the potential consequences I will have to deal with?
Thank you in advance!
Dear Questioner,
No issue. As per the law and the MOU, the seller has the right to sue the buyer even if he does not have the cheque. From my understanding, you are the broker, right?
Dear Questioner,
Normally, in such kinds of transactions, the cheque will be held by the agent and the terms will be included in the MOU itself.
If you have not performed according to the terms mentioned in the MOU, then the seller has the option to file a compensation case against you and the buyer for breach of contract.
But you are not entirely liable for this. If he files so you have to prepare a good defense and submit it to the court.
If you need further clarification, we will arrange a legal consultation session for a charge.
Share your WhatsApp number if you want to go with the services.
Dear Questioner,
You are required to contact the buyer immediately for the transfer of the cheque. For this, send a formal email to the buyer.
We can negotiate on behalf of you for the transfer of the cheque with the buyer.
If you need our assistance in the release of the cheque, please share your contact number.
Dear Client,
Thanks for your question! I hope you are doing well. I will assist you in this matter.
Failing to collect the deposit cheque from the buyer in a Dubai real estate transaction can have legal consequences, but they depend on the terms of the MOU and your role as an agent.
If the MOU supports the seller's claim and you were responsible for collecting the cheque, you could potentially face legal action or liability.
Consult with us to understand your specific situation, negotiate with the parties involved, and explore resolution options.
For any further legal assistance, you can WhatsApp us. We have an extensive team of knowledgeable and experienced lawyers to provide the legal assistance you need.
We will be happy to help you.
Thanks & Regards,
ABDUL WAHIED
