From my experience, every agent has their way of doin it. Every developer has their way. And the investor has to be careful somewhere in between. Also there has to be an element of trust from all sides, because at some point, a cheque will be in someones hand without guarantees... even if it has the developer's name on it.
The problem i noticed with RERA is that no developer is giving it the respect it deserves. Does it have the power to enforce law? Ok..then,... what is law? There has to be clear regulations and procedures to follow throughout the UAE. Why is it called a country and each emirate behaves in a different way when it comes to laws and regulations. Ok maybe its meant to be this way.
Also, there is a huge lack of knowledge from people employed by the developers. At cityscape, I go to those big developer corners and ask one of their representatives.... 9/10 I get "sorry, we dont have the full information yet",... or "Sorry prices will come this afternoon".... or "Sorry, you are asking the wrong person about this, am just employed for today and am meant to look pretty and smile and give out these bags full of leaflets". Damn!.... who the hell is the right person to ask then.
All they are concerned about is money money money... developers raise prices every day, to make the most,... and then, investors buy and raise the premium the next day... etc etc.
Alot of people buy and they dont even have a contract,... all they have is an MOU.... one developer told me... well, whats the difference,... MOU is like a contract dude.
Arrggghhhhhhh!!....
Inv.
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