When an Off-plan Sale agreement is terminated due to purchaser default, the developer must settle the refund within specific timeframes. For most construction milestones, the refund must be paid no later than one (1) year from the date of terminatio…
When an Off-plan Sale agreement is terminated due to purchaser default, the developer must settle the refund within specific timeframes. For most construction milestones, the refund must be paid no later than one (1) year from the date of termination. Alternatively, if the developer resells the unit to another purchaser before that year ends, they must issue the refund within sixty (60) days of the resale. This ensures that the purchaser's remaining equity is not indefinitely held by the developer.
This is general information from the website library. Confirm current rules, fees and property details with the relevant authority before acting.
Ali Faizan Syed’s knowledge centre
Ask Ali about this question · Explore published properties · Browse all questions