Adrain, just to clarify for every one a few more questions....
Did you make partial payment or payment in full?
Why did the real estate Agency not provide a contract?
has the Building been completed?
Is it on the primary or secondry market?
It is very unusual for the 2% fee to be deposited directly into a salesmans bank account I would have had alarm bells going off in all directions and make that big flashing red lights when no receipt was issued.....Often what happens here in the market is that there are so many Free Lance People who pass them selves off as agents. I sold an apartment this year where I had a leach ( thats a kind term) tern up along with the better homes Agents ( Better Homes have a policy of not dealing with 3rd party however ever here he was) and this leech was charging the buyer another 17,000 AED commision fee !!! When I realised what was going on I stopped the sale transfer sent this guy packing and the buyer saved 17,000 AED
Sorry re read your post from above
You did pay 100% !!!! If you are buying on the secondry market then you should have paid a deposit, received a receit as well as the real estate Sale Contract, you then book the transfer date with Nakheel ( presently running at a 4 week back log all though it is possable to get one a little earlier) you would then have had a settlement date where payment is held in the Real Estates Trust Account and paid to the owner on transfer of title from Nakheel to yourself.
From Nakheel website
Quote:
With regard to the title registration, Nakheel is prepared to offer the title registration service for a nominal fee of AED 1,000 (excluding Land Department Registration fees). This includes liaison with the Land Department, financial institutions where the unit is subject to financing arrangements and transfer of title from the Building Owner to the Unit Owner, in coordination with the banks as applicable. Please note that this does not include liaison with the Unit Owners which remains the building owner’s responsibility.
NB: In the interests of all third party Unit Owners of whom we have notice we must have sufficient security for the arrangement for transfer of title from the Building Owner on to them.
Registration Fees:
For all sale agreements registered on or after the 17th of December 2006, the Land Department fee is 1% of the sale price* from the unit owner, and 1% of the sale price* from the building owner.
For all sale agreements before this date, the land department fee is 1.5% of the sale price* from the unit owner and 0.5% of the sale price* from the building owner.
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