Alfurqan c11 c12 (my second talk with them )
My second email to them
Thank you for your replyBut it has been 30 months since I first started to pay that is about 1000 days and we both signed a contract that said end of 2009 the flat will be ready. It is your responsibilty to choose the correct trust worthy developer
and if he ran away with the down payment then you should have gone to another construction company instead of chasing a thief and wasting your time and ours . if you can not deliver what you promised and you say that my money in safe in an escrows account in EMIRATES ISLAMIC BANK then i want to cancel my purchase and pay the penalty in the contract. On the other hand i will wait until the end of October to see if there is any progress if not then i have no other chose than to take legal action.
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> Thank You
ALFURQANS SECOND EMAIL BACK
Dear Mr Alhitty,
Thank you for your reply,
Alhamdolillah we hope you will find many changes before your mentioned
date in mail, because Shaik Rashid is available in Ajman and very soon
we shall solve our contractor problem and send you good news very
soon.
The account of Emirates Islamic bank not accepted by AARA they are
planning to open new account in Ajman bank then all funds transferred
to Ajman bank from Emirates Islamic Bank and this is possible within
couple of week Insha Allah.
Thanks & Regards
Al Furqan Real Estate
http://alfurqan-re.com
Even I had a talk
I have spoken to few ppl.They r telling me the are abt to solve the electricity issue with abudhabi.also there r negotiations going on abt change in visa rule irrespective of income or value of property.
Also ARRA has asked to continue payments as we will be legally safe and our money is also in escrow accounts now.
But this is only verbal.we have to keep it tight till things really materialise.
Also don't lose your money if your developer has an escrow acc.write to ARRA confirm from them and keep that email .then continue your payments in escrow acc and be legally safe for future.If we don't pay then legally they can cancel our contract and earn lot of money from us and then resale the flat.we have already payed a lot(most of us above 30%) this money they can very well use for construction and when things are positive they can sell it gain and gain money.THINK ABT IT.
Also those who have escrow accounts can call their respective banks and ask how much money is deposited in their accounts(accounts are as per flat no).
THIS DOESN'T MEAN WE HAVE TO TRUST THEM BLINDLY.KEEP TABBS ON CONSTRUCTION,INFRASTRUTURE AND VISA ISSUES WITH YOUR RESPECTIVE DEVELOPERS.
We even need to convey the msg that 6 month visa is of no use to us.we need atleast 1 yr or more.
Keep upt the work going on.
Key words!!
The Emirates City,
Key words of Crook Developer are (Alhamdolillah, Insha Allah, Shaik ..etc.).
I do not think it is wise to offer paying penalty now, especially at the time when the developer did not fulfill his obligations according to the contract (project should handed over at end of 2009 while the actual construction is still under ground).
Anyway,
1- Well you copy and post the clause in your contract states the penalty you have to pay for termination of contract, it may give us hint for the other possibilities to deal with the situation.
2- Well you ask the developer: Did he will deposit back in the escrow account the previous payments he already received from you, Or only the future payments will be deposited in the escrow account?
Keep in mind Escrow account with current lack of regulations especially no regulation until now to connect payments with the progress of construction on the site, make the escrow account is just lure for investors to resume transferring payments.