LEGAL DOCUMENTATION

Refund Policy

📅 Effective: January 1, 2025

💰 Commission & Fee Policy

🤝 Fair & Transparent

We are committed to transparent and fair fee practices. This Refund Policy explains clearly when fees may or may not be refunded, and how to raise a refund request. We handle every case with honesty and respect for our clients.

Our Core Commitment

We only earn our commission when your property transaction succeeds. We will never take advantage of a difficult situation. If something goes wrong through no fault of your own, we will do what is right — always.

ON THIS PAGE

Overview

Brokerage Commission

Advance Token Money

Service Package Fees

Transaction Failure

Non-Refundable Items

How to Request

Processing Time

1. Overview

Mustaraka Properties Ltd charges fees in the following scenarios:

  • Brokerage Commission: A percentage of the final transaction value, payable on completion
  • Advance Retainer (if applicable): A small advance fee for exclusive search or listing services, sometimes charged upfront
  • Premium Service Packages: Fixed-fee packages for property marketing, valuation, or documentation services

We do not charge for initial consultations, property matching, or general enquiries. Our standard model is commission-on-success — meaning you only pay when a deal is done.

2. Brokerage Commission

2.1 Commission Already Paid

Once a brokerage commission has been paid following the successful signing of a sale agreement (bayna naama), deed of conveyance, or tenancy agreement, the commission is non-refundable, as our service has been rendered in full.

2.2 Commission Paid Before Completion

If for any reason the property transaction does not proceed to final completion after a commission has been paid:

  • If the transaction fails due to the fault of Mustaraka Properties Ltd (e.g., we provided materially incorrect information about the property): Full commission refund will be issued within 14 working days
  • If the transaction fails due to the seller’s fault (e.g., undisclosed legal issues, title problems, or the seller withdraws): We will use reasonable efforts to recover the commission from the seller on your behalf. If irrecoverable, a 50% credit towards future services will be offered
  • If the transaction fails due to the buyer’s/tenant’s own decision (e.g., change of mind, financing falling through): No refund is applicable as our services have been rendered

3. Advance Token Money

In property transactions in Bangladesh, it is common practice for a buyer to pay a token advance (bayna) directly to the seller to secure a property. This money:

  • Is paid directly to the property owner — not to Mustaraka Properties Ltd
  • Is governed by the terms of the bayna naama agreement between buyer and seller
  • Is typically forfeit if the buyer withdraws, and refundable (often double) if the seller withdraws — per the agreement terms
  • Any disputes regarding token money are between the buyer and seller directly

We strongly advise: Never pay token money without a properly executed bayna naama agreement reviewed by a qualified lawyer. We can assist in arranging legal review.

4. Premium Service Package Fees

For clients who have purchased our premium service packages (such as professional property photography, valuation reports, or listing packages), the following refund policy applies:

  • Cancelled before work begins: Full refund within 7 working days
  • Cancelled after partial completion: Refund of the proportionate undelivered portion, calculated at our standard rates
  • Cancelled after full completion: No refund, as the service has been fully delivered
  • Work is defective or not as agreed: Full redo at our cost, or full refund if a redo is not possible or desired

5. Transaction Failure

Real estate transactions can sometimes fail due to circumstances beyond anyone’s control. Our approach in common scenarios:

Legal / Title Issues Discovered Post-Agreement

If serious undisclosed legal issues are discovered on the property (encumbrances, multiple ownership claims, RAJUK violations), and we failed to flag these in our initial advice, we will refund our commission in full and assist you in recovering any advance paid to the seller.

Seller Withdraws After Agreement

We will pursue recovery of any commission paid on your behalf. We will also actively assist you in finding a suitable alternative property at no additional charge for an initial search period of 60 days.

Financing Falls Through

If bank financing is not approved after a property agreement has been made, we are unable to refund commission that has already been paid, as our service was successfully rendered. However, we will assist you in finding alternative financing options or a more suitable property at a reduced commission rate for the second transaction.

6. Dispute Resolution

If you are dissatisfied with our services or believe a refund is owed to you, we encourage you to contact us directly first. Our process:

  • Raise a complaint via email to refunds@mustarakaproperties.com with full details
  • We will acknowledge your complaint within 2 working days
  • We will investigate and provide a formal response within 10 working days
  • If unresolved, the matter may be referred to a mutually agreed independent mediator
  • As a last resort, disputes will be resolved in the courts of Dhaka, Bangladesh

7. Non-Refundable Items

The following are never refundable under any circumstance:

  • Government fees, stamp duty, VAT, and registration costs paid on your behalf
  • Third-party legal fees already incurred
  • Commission fully earned on completed transactions where you have taken ownership or possession
  • Costs of third-party services (photographers, valuers) already delivered

8. How to Request a Refund

To initiate a refund request, please provide the following in writing to refunds@mustarakaproperties.com:

  • Your full name and NID/Passport number
  • The property address in question
  • Date of commission payment and payment method
  • Amount paid and reason for refund request
  • Supporting documents (payment receipt, agreement copies, correspondence)

9. Processing Time

Approved refunds will be processed via the same payment method used for the original payment:

  • bKash / Nagad / Rocket: Within 3–5 working days
  • Bank Transfer: Within 5–10 working days
  • Cheque: Within 10–15 working days
  • Cash: Within 3 working days from our office