Is your stuff being sent out late? While most developers ensure that work proceeds as planned, there may be unexpected interruptions in handovers. Buyers are able to take specific steps to cope with a delayed property handover in Dubai.
What You Should do When Dealing with Property Handover Delays in Dubai
Continue reading to find out what you can do if the handover of your off-plan house in Dubai is postponed.
Make Sure you have Made the Necessary Payments
When dealing with handover delays in Dubai, the first step is to check that you have no unpaid bills or papers. Check to see if you have paid all of the necessary costs by the project’s handover date and submitted all of the necessary documentation.
Check if Rera has Cancelled the Project
If the Real Estate Regulatory Authority (RERA) disregards the project, there may be delays in handover in Dubai. This could be due to a variety of factors, including the land being affected by planning or re-planning efforts.
If this occurs, the project will be passed to the liquidation committee, which will then be transferred to the Dubai Real Estate Court, which will oversee the settlement of rights and liquidation to buyers in these situations.
On DLD’s website, you may check the ‘Project Status’ to see if RERA has cancelled a real estate project.
Negotiate with the Developer
If the project is not quit, the best line of action would be to negotiate an amicable setup with the developer.
Check your contract or Sale and Purchase Agreement (SPA) if you have noticed handover delays in Dubai. A provision in your contract should state what should happen if the developer fails to meet the handover time constraints.
This will not only assist you in your talks with the developer, but it will also assist you with choosing the legal option to take if you so want.
File a Case Against the Developer
If you are unable to find a suitable setup with the developer, you may file a compensation claim or seek contract termination.
However, keep in thoughts that the developer gets a one-year grace period from the handover date stated in the Sale and Purchase Agreement. Following this grace period, you may file an action against the developer.
It’s preferable to hire a reputable real estate lawyer and file a lawsuit at the Dubai Real Estate Court, which handles property issues like this. You can seek payment for the delay in the transfer, but this is subject to the terms and situations of your contract. You are entitled to payment for the interest on any funds, or extra money paid.
Alternatively, depending on your contract phrases, you can request cancellation of your contract with the developer on certain reasons and demand repayment for the amount spent.
However, it is better to use legal strategies as a last resort and first negotiate with the developer. It would be better for all parties worried if you could resolve the matter without turning to legal action for the property handover delay in Dubai.
How can you Safeguard Yourself from Delayed Property Handovers
There have multiple methods that investors and consumers may take to reduce the possibility of property project delays in Dubai.
Investigate the developer: If you want to buy off-plan property in Dubai, do some research first. Find out more about the developer’s track record of delivering projects and handovers on time. It is also a good idea to speak with other investors and visit the project site for more details. Finally, only buy off-plan home from trustworthy and reputable developers.
Make sure the project is RERA-registered: Before investing in off-plan advances in Dubai, make sure the project and developer are RERA-registered. On the DLD website, you may check to see if a real estate project has been registered with the right agencies.
Discover the Escrow account information: To sell off-plan real estate, all real estate developers must have an escrow account registered with DLD, according to Law (8) of 2007. Investors must deposit any payments got to the developer in the registered escrow bank. You can also verify if the developer has an escrow account by looking for the project on DLD’s website.
Ensure that the developer has the necessary permits: To promote and sell off-plan properties, all developers must obtain the requisite DLD permits and approvals.
