Thread Status:
Not open for further replies.

What stage is it to late to look for refund

Discussion in 'UAE Property' started by farren, Dec 29, 2008.

  1. farren

    farren Banned

    Hi I have signed reservation form and paid 30%. on a studio is it possible to look for refund? All advice welcome
     
  2. financier888

    financier888 New Member

    where is the studio located? in Dubai, Ajman?

    What does your reservation form say - in the terms and conditions as it relates to cancellation? and how long ago did you sign it and how many payments have you made?

    You need to kindly state more specifics
     
  3. farren

    farren Banned

    Hi It is in ajman have paid 30% signed in july
     
  4. memo123

    memo123 Member

    I'm afraid I have the same question , I have paid 50% , in march , in Dubai , no building in site , just received the contract he had added so many clauses that were not in the original MOU OR RESERVATION FORM , developer refusing to give me my escrow balance , nothing but sand augmented by pictures from some friends on this forum . and my money is setting for the last 9 months at zero% , that is if any is still there for he said that he had been using our money to pay for the land .
    RERA says go to court for he is in breach of the contract
    what do you suggest
    please help
    i am open to all suggestions
    REGARDS
     
  5. Roshan

    Roshan New Member

    Sue the B@#%&*D. Most of the times investors including myself are scared of losing money and would not like to get into the legal wrangle. But when a limit is reached, then you would like to hit back.

    Don't go by what RERA says as it's only verbal and nothing documented.

    Instead of hiring a lawyer. Look into the possibility of representing your own case. After all there will be interpreters in court. Lawyers will charge you a bomb and will stand like statues in court.

    I have experienced how lawyers work out here and they are so disappointing.

    Regards

    Roshan
     
  6. financier888

    financier888 New Member

    hi Memo - if you purchased this unit in 'Dubai' (if i understand you correctly) - the develoepr HAS to provide you with your escrow balance !! in addition, if you know the name of the bank where the escrow acct is maintained - you can go to the bank and request your balance - they MUST provide you this information. If you do not get satisifaction - and I would send the developer a registered letter requesting my escrow balance - (You'll need this for a law suit) - If the bank cannot locate your escrow payment (credit) then try to get it in writing.. -(the bank may not do this.... unless you can get someone like a bank director that is sympathetic - but dont count on it...) make sure you get a card from the person at the bank you are dealing with and log the event...date, time etc... again - info you'll need in a law suit.

    No satisifaction - file a complaint with RERA post haste - then try to contact other buyers... this is a direct vilolation of the law.. ALSO - try to get the contact info of the escrow administrator - a 3rd party that interfaces with RERA, the Developer and the Bank... talk to them... they most certaingly want to know if the developer is working outside of the LAW and is not in compliance. Their job is ensure that the developer is complying with the LAW

    In regard to getting the SPA that is loaded with other terms and conditions beyond the imagination - i understand.. ( I worked in this area) New laws in Dubai require that the SPA be submitted to the Master Developer BEFORE the developer is allowed to market the project - so, in essence, even though the deveoper will issue the SPA up to a year after you have been making installments based on the simple (usually) 2 page reservation form - they are holding the SPA.
    Before I would buy in Dubai now, I would insist on being able to review the SPA - BEFORE executing the reservation form. There is absolutely no reason why any honest developer would deny you this - unless they were hiding some bombshells.

    In the past, most developer were of the mindset - no point turing over the SPA - because most initial buyers flipped their contract - so, wait until 30-40% has been paid etc..... usually a year The SPA's in Dubai are comprehensive and of course, written in favor of the developer. (he has drawn the contract!) - on the other side of the spectrum, I have some from Ajman - that were a complete joke. (less than 3 pages whereupon the ones in Dubia run about 40 pages...)

    at least in Dubai - there are laws and the courts will protect you and new laws will improve investor protection. Ajman, well, this is going to take time and many of the projects up there will never see the light of day

    good luck
     
  7. memo123

    memo123 Member

    Thank you Roshan

    I have gone through all the articles in RERA and the developer is in violation of so many
    and as for representing my self i believe i can do a good job at it
    but I dont live in the UAE and between filing a court case and the hearing i dont know how long it takes .
    have you any clue?
    thank you and reagrds

     
  8. memo123

    memo123 Member

    Thank you very much for all your advices

    Thank you again , you really know your Job well please keepinformed of what to do , we need people with your expertise on this blog
    Regards
    Memo

    P.S . Do you think i can go to the property court , file a case against this developer and represent my selF , i went through the old 199... law and the 14th August articles 2008, and in both he is breaching many articles.
     
  9. sayed

    sayed New Member

    hi
    has anyone got dealings with dubai heaven on earth?
    they have taken 50% of money amounting to almost 40k pounds and now after a year are saying their project is delayed
    when asked for refund- they first stated they would pay in about 24 months (although they took the money within 3 months from us)
    now they are saying they will pay in 60 months-
    i think this is daylight robbery- any one with similar experience?any suggestions?
     
  10. sabreen007

    sabreen007 New Member

    what are you doing?

    i am in dealings with teh same company and am sufferring from deep depression due to their actions. I have serious doubts about them as they are not intersted in their existing customers anymore. how are you getting your money back?
     
  11. sami71

    sami71 New Member

    inform rera and take ligele action
     
  12. memo123

    memo123 Member

    RERA will tell you they cant do anything for you and to go for a legal action
     
  13. sabreen007

    sabreen007 New Member

    are you a customer of HOE

    Are you a customer of heaven on earth developers? I dont know what to do . The legal system in dubai is really complex
     
  14. East end barrow boy

    East end barrow boy New Member

    Get a hit man.

    Any local legal professional, has a licence issued by the local authority, who will recind the licence as soon as the developer, (or his brother), demands it.

    Kay Junior
     
  15. memo123

    memo123 Member

    Hi form a group for this project, sign a petition for project cancellation and take it with your project group to Marwan Bin Ghalitah in RERA and convince him to cancel this project . They in RERA have formed a panel to cancel all projects that they see are not feasible any more
     
Loading...
Thread Status:
Not open for further replies.

Share This Page