What you should know when selling your property in IC ..Held to Ransom
I have been contacted by another owner in a different district, who brought from the same Agent as I did and they have had their Transfer Sale held up for months because the building Owner will not show up. many excuses given, as well they do not wish to hand Power of attorney to any one to sign.
There is a simple process in place in Dubai to transfer property when the Building owner/ buyer/seller can not be present and this involves Power of Attorney being given to a person to sign on their behalf.
The Dubai Real Estate Regulatory Authority RERA needs to address this oversight as building owners are holding Apartment Owners to ransom. By Ransom I mean they will not turn up ( because they can not be bothered) or else will only turn up if an additional payment is made.
My case 2 % payment ( of selling price) was required for the building owners representative to turn up and sign transfer papers.
How ridiculous is this and why after much fan fare of looking after the consumer and establishing Real Estate Laws that start to resemble the western world is RERA still only a paper tiger?
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