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Remus2004
Remus2004, Barrister
Category: Property Law
Satisfied Customers: 2494
Experience:  Over 5 years in practice.
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I have bought a hotel unit in Dubai and had signed SPA in

Customer Question

I have bought a hotel unit in Dubai and had signed SPA in Dec 2018. I have paid about 35 percent of the purchase price until October 2019. I have since stopped paying due to my health issues and the current economic situation. The developer has threatened me with termination notice . The project is due to complete in April/October of 2020. I just don’t think I want to pour in more money into project which I have no confidence in it’s viability or profitability at the present economic crisis. I have in the meantime got my property listed with Europe Resale Limited . Will I stand to lose the money I have paid this far . The First Group is due to start paying dividend this April on completion of the project ( Dolphin Tower ) but likely to be delayed till Ovtober. The progress payment is due to go on till end of 2021 as per the agreement.
What’s the worst case scenario can happen to me should I cease to pay any more of the balance.
Submitted: 6 days ago.
Category: Property Law
Customer: replied 6 days ago.
How do I send you my SPA.
Don’t seem to go through
Expert:  JimLawyer replied 6 days ago.

Hello, this is Jim and I’m a dual-qualified lawyer (UK & Republic of Ireland) happy to help you today.

Do you mean if they sue you for the balance, what's the worst that will happen?

Customer: replied 6 days ago.
They have not stated that they will sue but just an email stating that if I don’t come up with the overdue payment it will give him no other choice but to terminate my agreement. There is a clause in the agreement that indicate once I have paid more than 30 percent of the cost price , I can reassign my unit to a buyer who will continue the payment . The new buyer if any will also have to sign a SPA with them.
Let’s say if I am unable to find a buyer what happen to the money I have paid.
Expert:  JimLawyer replied 6 days ago.

It looks like you clicked the call request button - apologies I can’t take a call at the moment but other experts are free to contact you. If no one calls you then you will not be charged for it - an "authorisation" has been made for payment, that's all. However, the call request is open to all experts - if you want to cancel the call then please send an email to [email protected]. I can continue with the question online if that suits?

Expert:  JimLawyer replied 6 days ago.

I see, the performance of the SPA contract would then be frustrated as no buyer can be found, so the money paid would be forfeited I would imagine. It would depend on the terms in the SPA - are you able to upload a copy for me?

 

Customer: replied 6 days ago.
So that is my situation. I don’t mind losing some money but not the big amount I ad paid
Expert:  JimLawyer replied 6 days ago.

Thanks, termination is due to one or both parties in the SPA being unable to carry out a vital term. If you could give me a copy of the contract I can review.

Customer: replied 6 days ago.
Please just cancel my call.
I will continue with just the way it is now
Customer: replied 6 days ago.
How do I send you the 40 page SPA
Expert:  JimLawyer replied 6 days ago.

If you want to email it to [email protected] then they will forward it to me

Customer: replied 6 days ago.
Have you received the SPA
Expert:  JimLawyer replied 6 days ago.

Hi, they are a few hours behind as they are based in the US, so it will be sent to me at some point. Sorry for the delay - if it's possible to upload it using the paperclip symbol that would be much better. I would need to see the contract so that I can give you an accurate answer - hope this is OK.

Thanks

Customer: replied 5 days ago.
No worries take your time . Within a week fine with me
Customer: replied 4 days ago.
When can I get reply or guidance on my query relating to issue of termination of contract of SPA?
Expert:  JimLawyer replied 4 days ago.

Hi there, sorry for the delay - I haven't had the attachment sent to me yet. If you could re-send it to them and ask them forward on to me (FAO:JIM).

Many thanks

Customer: replied 4 days ago.
But there are clauses which I need you to interpret . Otherwise we can talk about these over the phone . I will try to resend again tonight.
Regards. Zainal
Expert:  JimLawyer replied 4 days ago.

Thanks, yes if you can please re-send, in the subject title of your email just put in "FAO:Jim"

Customer: replied 4 days ago.
Will do sir
Customer: replied 4 days ago.
Just sent FAO Jim
Customer: replied 2 days ago.
Have you received the SPA I sent with FAO Jim
Expert:  JimLawyer replied 2 days ago.

Not yet - I will speak to customer services now though and see what's happened - will be back soon

Customer: replied 2 days ago.
OK
Customer: replied 2 days ago.
OK thanks
Customer: replied 1 day ago.
How is it that the amount of £26 have already been debuted when I have yet to get a response to my problem?
Expert:  JimLawyer replied 1 day ago.

Hello, that can be refunded - you may be on a membership for the site. If you send an email to [email protected] In the meantime I haven't had the SPA through yet - I will have to ask customer services to help you with this. Sorry for the inconvenience.

Customer: replied 1 day ago.
Many thanks for your advice.
My understanding from the SPA is that once I have paid more than 30 percent, they cannot forfeit my money . I can reassign the property to an interested party if I can find one . I have in fact enlist a property consultant to market my property at cost price . My concern is only if I am unable to find a buyer , can the developer forfeit my money. Also for your information my name is already on their register after I have paid more than 30 percent. Your opinion on my case appears to be similar to an opinion of my lawyer friend. Thanks for your response . Please confirm your final response once you have the SPA.!
Customer: replied 6 hours ago.
I was thinking of sending a page or two of the relevant part of SPA to get this moving. Is there any other way I can send direct to you?
Expert:  JimLawyer replied 6 hours ago.

Hi there, yes, the easiest way is to save it to your computer and upload here, or take a photo of the pages, save and upload.

http://ww2.justanswer.com/help/how-do-i-send-photo-or-file-expert-hl

Customer: replied 6 hours ago.
Ok I will try to do'
Customer: replied 6 hours ago.
I have sent about 5 pages of SPA . Have you received them
Expert:  JimLawyer replied 6 hours ago.

Via email? They are not uploaded on this screen.

Expert:  JimLawyer replied 6 hours ago.

I just heard from customer services - they say there is nothing from you (if you sent an email to them). They suggest the best way forward is to upload to this site.

Thanks

Customer: replied 5 hours ago.
Already sent via email
Received them
Expert:  JimLawyer replied 5 hours ago.

If you've now emailed them and the attachment got through, they will send it on to me shortly - thanks

Customer: replied 5 hours ago.
Great
Customer: replied 5 hours ago.
I have tried both, uploading as well as via email .
Customer: replied 5 hours ago.
Still nothing ?
Customer: replied 5 hours ago.
If I were to read to you over the phone it might take quite a while I think , about 3-4 pages
Expert:  JimLawyer replied 5 hours ago.

Nothing yet - when emails are sent to [email protected], they can take a day or so to be forwarded on. With it being weekend I may not receive it until the morning. Rest assured when they send it to me I will be back in contact

Customer: replied 4 hours ago.
Fine , I will wait till tomorrow.
Btw should I decide to do this over the phone, does that mean it will cost me another £44 or that being the final
Cost?
Expert:  JimLawyer replied 4 hours ago.

Hi, I can't take calls at the moment so we'd need to deal with it online. There are other experts who could take a call if that suits you better. There is a call request button - once that is clicked, your request goes out to all experts so one would ring you (probably today, if not today then tomorrow).

Thanks

Customer: replied 2 hours ago.
It’s ok then , I will wait for your response then.