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Property Cancellation Lawyer

27

Posts

EW NEWBIE

Latest post on 16 February 2011 - 23:09

Can anyone recommend a lawyer you have used and who has actually got your money back from the developer. We have just been handed our property, 18 months late and would like to put in for cancellation and get money back.

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2

Posts

EW NEWBIE

Latest post on 17 February 2011 - 09:49

I would imagine that even if she sells it she will still owe the bank a lot of money as it is probably worth half of what she agreed to pay for it and for what the mortgage is.

bowbellscowbell...

304

Posts

EW EXPLORER

Latest post on 17 February 2011 - 09:27

If you want to get your money back quickly - you may want to sell it ..

edna.welthorpe36638

516

Posts

EW GURU

Latest post on 16 February 2011 - 23:39

x2, if you've received the completed property what are your reasons for demanding a refund? 18 months late is nothing in Dubai terms and the developer did actually build it, so you're going to have no luck there. As bowbellscowbells says, about the only chance you're going to have is if what they delivered is majorly different from what you contracted to buy, and even then you should expect a lengthy and expensive legal battle. Think years, not months, with no guarantee that you will get the result you want. if you want to cancel because the property has plummeted in value and you're already deep in negative equity or you simply can't earn enough in rental to cover the mortgage, forget it now. you'll be wasting your time and money. TBH you're probably doing that whatever your reasons... the developer built the property and was only 18 months late. The law will favour them, not you.

bowbellscowbell...

304

Posts

EW EXPLORER

Latest post on 16 February 2011 - 23:16

if you have just been handed your property why do you want your money back ? Speak to RERA ... I am not sure about if there are any time constraints on a build .. if the apartment/villa is less than 10% of a variation of the initial given space allocated on the off plan purchase documents then you may have a case .. Real Estate Regulatory Agency Call Center : +971 - 4 - 222 - 1112 Fax No : +971 - 4 - 221 - 5533

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