Miscellaneous Questions: Post them here

[SAH]

i just did this nakheel was very helpfull you need possesion letter from your building owner + your passport and 7000 DHS + blood test included in this fee and it takes 2 days.

[Digitalchaos]

thnx alot man, i appreciate ur help .will give him a call tommorow!!. and then cancel my subscription with Du. !!!

[wayneis]

I am after an idea on what the present rate is for selling/ buying studio apartments in International City.

Can any one who has made a recent sale or purchase of an apartment give me an idea what was their selling price or purchase price and location?

Was the apartment generating an income from rent?

My apartment is Top Floor Persia District with a tenant.

If you do not wish to post details then PM me privacy will be respected, please no agents or middle front or back or side men

[wayneis]

Update studio prices seem to be around 350k AED. An agent informed me that it is still difficult to obtain finance from Banks for International City with Tamweel happy to lend on apartments in Spain England and parts of Morroco

Nakheel still have a huge back up to make an appointment to sell your property earliest was in 4 weeks time.

Annoying really when you understand that this back log has been present all year,. It is not as if Nakheel do this for free either as the buyer is charged the transfer fee.

To sell your apartment you need to make an appointment with Nakheel, then arrange to have Your self, the Buyer and The owner/owners of the building you purchased to attend the meeting to transfer ownership.

As the seller you must all so bring along your Unit Sales Purchase Agreement, if you can not locate this or have lost it expect to fork out 5,000 AED, you have the usual request for passport/ID .Building owner must also bring their copy. You do not have to use a real estate agent.

I will detail the process in a later thread with an update ...still can not understand why Nakheel have not employed more staff to deal with the transfer of property as it is a great income generator for them.

[eyeC]

a very good question

[adrian07]

Hi All,

First of all, I'm so glad to find this forum, I had a few query but I had no one to ask before I found this forum. Just knowing this forum, feels like I have big support in my back.

I'm am one of the future owner of a shop in England.
I've purchased the shop by Real Estate Agent.
I paid 1000 Dirham for Sqft which I think is first ripped off.

The status of Payment for the shop is 100% plus
2% commission and 2% transfer fee are fully paid.

A few days ago, I had phone call from real estate staff regarding to confirmation for the Appointment Transfer of Sale of International City, and to pay money for administration fee???

I was so surprised to realize there was another fee to pay because I thought I've fully paid and no one ever mentioned about this administration fee before.

After I sent a email querying about this, they replied as follow
"The fee is for the documentation and facilitation of your registration and transfer"

"Please prepare a cash of 0.5% from the selling price payable to Nakheel as Land Registration Fee, also please be informed that you need to pay additional 2% since this has been pre-registered to Real Estate agent"

-----------------

Why must I pay twice the transfer fee?
Who ever bought a shop or apartment from real estate, followed my step?
I feel like I'm ripped off here.

I'll be appreciated if you comment your experience or knowlodge.

Regards

hi
i am a agent in dubai.
according to my experience,they are charging u something which u don't hav to pay.
do u have any mou mad evt thm.doed it says tht tht price u brought includes all.if yes thn don't worry they can't ask u.
regards
nitasha

[wayneis]

Ok ..everyone sorry to harp on this point however if your not buying directly from one of the major 3 or 4 developers( nakheel,Dubai Properties,Emaar...) here in Dubai do your self a huge favor and use a competent property lawyer to avoid future hassles.


Adrian, did your contract of sale mention anything about administration fee? If not then you have the Law on your side and the agency is not entitled to ask for any additional fees.

There is a thread with a theme of name and shame here
Where you can place further information for others to read.

Still get the run around and want to do something about it which will not cost you much money...then read below

You may encounter some "huffing and puffing" where the Agency say they will hold hand over or take legal action, ....however if the contract did not mention administration fees then tell them to go jump, take your contract to one of the many local typing shops have it translated into Arabic, go to the court have the document stamped as an original copy in Arabic take your passport along ( copy not necessary however lends more credibility if stamped), then take the documents to the Police Station and open a police case for fraud. The agent will then be asked by the Police to come down to the station and explain their side of the story, if they refuse to come down they will be thrown in jail.

You could also use a competent lawyer however the above will cost you very little money, and is straight forward. There is also the Department of Lands, RERA and Nakheel .

Look at the this thread here for charges am making it a sticky thread for a while so its at the top of the web board for people to check out.

Adrain can you keep us updated as your experience may help others out that are in a similar position

[adrian07]

Thank you for the replies.

Real estate agency never send me or made sale contract.
At this stage only document I have is Receipt of payment for the shop and 2% transfer fee.
2% commision fee were tansfered to the salesman's bank account directrly and I'm waiting for this reciept. And another suspicious thing is this salesman doesn't reply my email anymore after he got his 2% commision.
But I do have proof of bank transfer regards to all the payments.

And Wayneis, I'll keep updating my thread if this can help to other peoples.

[wayneis]

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

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.