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I bought a one bed room hotel Apartment in 2008 in dubai sports…

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I bought a one bed...
I bought a one bed room hotel Apartment in 2008 in dubai sports city for AED 1.413000 which was supposed to be run as 5 star hotel with 60 % revenue goes to me and 40 % to developer for maintenance and overheads.I paid 40 % of the above price.When the project was delayed I stopped paying the installment.The building still under construction and the developer now offered me to buy the unit for AED 864000 and pay the balance.What he did not tell me is that it is no more luxury hotel apartment and the contract was changed to regular unfurnished apartment run by the tenants .How can I get out of this unfair deal? what are my options to get out of the contract and get AED 564000 back that I paid to him?
Submitted: 6 years ago.Category: Real Estate Law
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Answered in 23 minutes by:
9/1/2011
Real Estate Lawyer: Andrea, Esq., Lawyer replied 6 years ago
Andrea, Esq.
Andrea, Esq., Lawyer
Category: Real Estate Law
Satisfied Customers: 12,554
Experience: I have practiced law for 25 yrs. with an emphasis on real estate, business law, criminal defense and family law.
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Hi, and Welcome to JustAnswer, My name isXXXXX am a licensed, practicing Attorney, I have 25 years experience and would be glad to help

The attorneys on JustAnswer are glad to answer questions and give information, but JustAnswer is not a law firm, so we cannot take on client representation and no attorney-client relationship is formed.

 



Your rights are all spelled out in the agreement you have with the developer and if the agreement states that it would be constructed as a 5 star hotel, then that is what the developer must do, no questions about it. I cannot give any opinion on the attorney because I do not know him, nor do I know what attorneys command as a fee in Dubai, but $10,000 up front just seems like a lot of money without telling you what he will do for you for that money. So, you might want to consult with other attorneys and see what they have to offer.

Negotiating with the developer may be a good first step, but not worth asking $10,000. I agree that if the agreement obligates the developer to construct a 5 Star type hotel, then you do have an excellent case because the developer is unilaterally changing the terms of your agreement with him and the attorney should be able to cut through all of this in a relatively short time, so again, I believe that the attorney is asking for too much up front with no guarantee. If I were in your position, I would speak to several attorneys so that I could determine if the amount the attorney was asking for was reasonable.


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Andrea, Esq.
Andrea, Esq., Lawyer
Category: Real Estate Law
Satisfied Customers: 12,554
Experience: I have practiced law for 25 yrs. with an emphasis on real estate, business law, criminal defense and family law.
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Andrea, Esq.
Andrea, Esq.
Andrea, Esq., Lawyer
Category: Real Estate Law
Satisfied Customers: 12,554
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Experience: I have practiced law for 25 yrs. with an emphasis on real estate, business law, criminal defense and family law.

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