What stage is it to late to look for refund

[Josen]

X Posted - hope this is of some help --- but it looks bleak

This was posted in a local newspaper


Dubai acts on property troubles
On the government side, the authorities said yesterday they would heavily penalise buyers who defaulted, to deter speculators from abandoning deals.

Under a document clarifying existing legislation, the Dubai Land Department said anyone who failed to fulfil their obligations to the developer would be given a 30-day warning period. If the deadline was missed, the developer would have the right to cancel the sale, keep 30 per cent of the contract value and a further 30 per cent of extra payments. The buyer would receive the remaining money only after the developer had resold the unit and construction was complete.

My lawyer expained that this means

Basically in case of a house sold at a contract value of 1M against which (say 80%) 800K has been already paid, and the buyer defaults - then he is penalized

1) 300K - 30% of contract value
2) 150K - 30% on excess payment (800K - 300K = 500K x 30% = 150K)
3) Refund of 350K (800K - 450K) only on completion of project
4) Refund only after developer has managed to resell the property
Nothing in law regarding penalty to developer on delays in project handover

 

[sayed]

hi
any one having problems with dubai heaven on earth developers/brokers?
please let me know
thanks

 

[romail]

hi
any one having problems with dubai heaven on earth developers/brokers?
please let me know
thanks

what u will do?
can u help me so that i can get my 20% back.............

 

[Pint of Guinness]

What`s the best way to start asking for a full refund? My project completion is overdue by atleast 3 and a half years!

 

[Pint of Guinness]

Many Thanks for your help.. I will contact my Developer and see what they say..

Hi nictt,

What did Lokhandwala say? Have the units been registered in our names and did they do it in time?

Thanks

 

[Pint of Guinness]

Many Thanks for your help.. I will contact my Developer and see what they say..

Hi nictt,

What did Lokhandwala say? Have the units been registered in our names and did they do it in time?

Thanks

 

[nictt]

Hi nictt,

What did Lokhandwala say? Have the units been registered in our names and did they do it in time?

Thanks

They have given conflicting information, one person there told me they were in the process of being done, then someone else said that they had already been registered in our names, but i dont know how to check?
To be honest i dont think there is much, if any, chance of us getting them to agree to give us our money back without hiring a lawyer and taking them to court!. Ive asked and asked and asked, ive tried to be reasonable with then, ive tried asking polietly and in the end i must admit i COMPLETLEY lost it with them on the phone and ended up screaming, shouting and swearing at them.. Not one of my proudest moments but i was at end of my teather!!! ;-(
How much have you paid to them so far?

 

[Pint of Guinness]

They have given conflicting information, one person there told me they were in the process of being done, then someone else said that they had already been registered in our names, but i dont know how to check?
To be honest i dont think there is much, if any, chance of us getting them to agree to give us our money back without hiring a lawyer and taking them to court!. Ive asked and asked and asked, ive tried to be reasonable with then, ive tried asking polietly and in the end i must admit i COMPLETLEY lost it with them on the phone and ended up screaming, shouting and swearing at them.. Not one of my proudest moments but i was at end of my teather!!! ;-(
How much have you paid to them so far?

Hi nictt,

I too have been in touch with Dubai solicitors in the UK over the past few days - the surprising thing is how very little they even know about the law - and these are lawyers claiming to be specialists in Dubai law! When I asked one "Dubai legal expert" what Dubai Law 13 of 2008 meant for us, ie. if the developer can keep 30% of the total purchase price or 30% of payments made so far (in the event that a buyer defaults),the "expert" had not even heard of such a law! I understand Dubai law changes frequently, but what good are these Lawyers if they don`t keep up to date and don`t have knowledge of these rather important property Acts (being property law specialists, you would have thought that was quite important!).

A lot of Lawyers just seem to want to take their £1000 + vat fees upfront just to "examine documentation", without any clue as to whether we have any hope of getting any money back. Perhaps we may be throwing good money after bad...

Neverthless, let me know if you want to team up on this one....

Thanks