Payment schedule changed

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Payment schedule changed

Postby suhad » 06 Dec 2008, 14:52

i bought a one bed room appartment in dubai when we bought it there was a scheduale for payments we should pay 50% then when flat ready we pay monthly payments for the other 50% now the developer wants its mony in all or we will have penalties can any body help me in this matter just to tell me can they do this or there will be a law that protect me
i need an urgent reply , i think this company use this trick to let people buy from them then when the flat finish they take the flat and whatever we pay and because am iraqi they now that i cant get a visa which make the situation worse for me
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Joined: 03 Dec 2008, 14:52

Property payment schedules

Postby shawarma » 06 Dec 2008, 17:02

Hello suhad and welcome to the Dubai forum :).

Sorry to hear about your property problems :( . I'm not a lawyer, but I would have thought that whatever contract you signed with the developer cannot be changed without your agreement. Maybe the company is just trying it on to get more money - due to the credit crunch many companies are facing liquidity problems. The best place to get proper information would be the Real Estate Regulatory Authority (RERA) in Dubai. Or try contacting a property lawyer.
Please use the forum for questions, not the PM system.
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