Contract Cancelled
A 3 step process has been designed in order to assist you in finding the best solution for your investment.
Settlement
Litigation
Asset Relocation
The Problem
I bought a property in 2021 and paid 20%of the purchase price within the first year. During the global crisis I stopped making payment due to unforeseen circumstances. I recently discovered that the developer of my project had changed and a new group had taken over the project. Without contact the new developer cancelled my contract.
The Problem
I decided to invest in an apartment in Dubai in 2020. My real estate agent advised that instead of buying one unit and paying for it in full I should buy a full floor in an off-plan project and only pay 20% maximum. This method I believed would be a “quick flip” and would be the opportunity to make some money fast. I was escorted to the developers office and there the sales manager convinced me that it was indeed a good plan. I insisted that he put it in writing and he did. A years later when I went back to the developer there was a new management and they said that they had fired that sales manager and that letter was ultimately meaningless to them.
The Problem
I bought a property in 2018 at CityScape and paid 20% upfront. 5 years down the line from the date of my purchase the project has only reached a level of 30% construction. Due to me not making any further payments they cancelled my contract. The completion was meant to be in 3 years. I couldn’t understand why I would receive a cancellation notice when they had only built 30% of the project. Safe to say I was not very happy.
FMI Services Provided
FMI Services Provided
FMI Services Provided
Settlement
The Problem
I bought a property in 2021 and paid 20%of the purchase price within the first year. During the global crisis I stopped making payment due to unforeseen circumstances. I recently discovered that the developer of my project had changed and a new group had taken over the project. Without contact the new developer cancelled my contract.
FMI Services Provided
Litigation
The Problem
I decided to invest in an apartment in Dubai in 2020. My real estate agent advised that instead of buying one unit and paying for it in full I should buy a full floor in an off-plan project and only pay 20% maximum. This method I believed would be a “quick flip” and would be the opportunity to make some money fast. I was escorted to the developers office and there the sales manager convinced me that it was indeed a good plan. I insisted that he put it in writing and he did. A years later when I went back to the developer there was a new management and they said that they had fired that sales manager and that letter was ultimately meaningless to them.
FMI Services Provided
Asset Relocation
The Problem
I bought a property in 2018 at CityScape and paid 20% upfront. 5 years down the line from the date of my purchase the project has only reached a level of 30% construction. Due to me not making any further payments they cancelled my contract. The completion was meant to be in 3 years. I couldn’t understand why I would receive a cancellation notice when they had only built 30% of the project. Safe to say I was not very happy.
FMI Services Provided
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