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has any one stopped payment

Thu, 01/06/2011 - 23:10 — MCJ

Hi everyone
I can't pay anymore.they threatened me to lose all my payments 220000 can you imagine losing your lifetime hard work. what can I do please tell me.
How can I get back even half of what I paid.
please write to me if this happens to you

‹ FOR THOSE WHO SWAPED FROM AL RASHEED TO LILES OR LAVENDER Progress report - D1 , D2 , D3 , D4 & D5 ›
Sun, 01/09/2011 - 02:10 — Musafir
Musafir's picture

are you crazy?

the question should be WHO IS STILL PAYING ?!!!

i presume you are talking about a property in emirates city.

firstly you should contact ARRA, they will advice you on paying only based on construction progress (construction linked payments) i am unaware of any property in ajman which presently is up to date on construction

only a few properties in emirates city have almost half or 90% of extent external structure but still got lots and lots of internal work to do yet so arguably even those are only 40% fully complete. alot are only 1-2 floors yet they have taken too much share of instalments from buyers and not done work to that level .

are you paying through ARRA registered escrow account ? as i think its now the law all payments a tell arra who your property is with develpers must take must be through escrow account (if you are not, and have been paying all this time through non escrow account, then i think your developer /agent is cheating you and sounds like a crook and you might not get any money back, any further money u put in, is just going into his pocket.)

best is contact ajman govt arra body
they will advice you on what to do.

Musafir Moderator