MaryJo Sorry for the delay in getting back been fairly busy, All Costs associated with the sale are paid by the buyer, you will need to book with Nahkeel to do the transfer, (have posted the process use the search function ) it takes around 4 weeks to get an appointment, you will need Building Owner,Buyer and seller to all be present if not then some one who has Power Of Attorney to sign documents,again, I have posted the process online, it is not rocket science, fairly straight fwd however you can strike a hiccup if the building owner or owners will not turn up for signing. Have been contacted by an owner who is experiencing this problem.
Another one to watch out for when you sell is that many Agents are free lancing , troll the net and papers looking for apartments then act as middle men bumping up the cost even further for the buyer.Had this happen with me when I sold my first apartment at the transfer /sale at Nahkeel and told the guy to bugger off and saved the buyer 15,000 aed.
As for your question to Sell or Buy? You have really answered your own question, if you are buying another project off the plan use the guide line are Banks Lending on the project? Be aware that all projects are delayed in Dubai and that what is shown at the rendering stage and on glossy paper can and often does change with very little recourse to you the buyer. Also consider a good property lawyer to go over your contract, as this will save you in the long term. Be aware that most contracts are in favor of the developer, making little reference at all to your self, and some contracts do not even refer to the title. You should be aware of this having done the International City /Nahkeel affair where You have the master developer and then the contractor (building owner/sub developer)
You have no law in place which prevents Master Developers from advertising any developments that are not as they will be when finished.
Just take a look at the brochures and advertising fro International City and the Forbidden City...or hidden city as I like to call it...
Still lots of crocodiles and smiling alligators in Dubai just waiting to snap up the unexpected. Be carefull!
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