Miscellaneous Questions: Post them here

[Razneer]

Hi Razneer,

I am actually buying the property from an agent who is representing the second owner. The quoted price, 340,000 is net to the owner plus commission.

I was curious what other hits I will be taking! I am aware of the title registration from Dubai Land Department is around the the 1.5% mark but was wondering where I can find out in blue print what the others are.

Hey thanks alot.

Don

Annual Service Charge (c. £700.00 p.a) which covers maintenance of the communal grounds/hallway; communal aircon usage

* Deposit of 1000 AED initially for your name to be added to DEWA. (Although water/electricity would have already been connected by the previous owner, DEWA ask for the deposit. This will be refunded once you rented out your apartment, otherwise is held until you sell).

* I think the Nakheel registration was 1.5 or 2% but I am not aware of any other fee. Be careful you are not being conned!

I would also suggest getting some legal advice on the charges to ensure no one is ripping you off.

 

[Don.W]

Hi Razneer,

Thanks for all the info you provided. I got confirmation that the Nakheel registration fee and the Dubai Land Transfer Fee were the two main charges I would need to pay. No other fees. Some agents really take you for a ride if you are not careful. I am sure you know people who have been conned.

I put down an offer today and look to have the property handed over when the developer thinks its fit to do so. That should happen in a little over a month.

Thanks once again and to all those who have posted befoe. this discussion board is awesome!

Don

 

[Dixie]

Bank Accounts in Dubai

At long last I am going over to Dubai in November for the handover of my apartment in the Spanish Quarter. I ultimately will be renting out this property. Does anybody have experience with opening up a bank account in Dubai which can be used for holding this money in readiness to be exchanged to GB sterling.
Thanks, Dixie

 

[Razneer]

At long last I am going over to Dubai in November for the handover of my apartment in the Spanish Quarter. I ultimately will be renting out this property. Does anybody have experience with opening up a bank account in Dubai which can be used for holding this money in readiness to be exchanged to GB sterling.
Thanks, Dixie

Hi Dixie

Look at my "sticky thread" regarding HSBC Bank account.

Raz

 

[Digitalchaos]

How to get my own Satallite dish in IC ??

Hi....

I just moved to International city, and I was shocked to find out that the building doesnt offer any T.V Channels, and my only option is through DU. which costs 50 dhs a month just to get the free to air channels!!!!! so I was wondering if anyone could point me to a shop that will fix me a satallite dish on my balcony so I can watch T.V without paying a hell lot of money to Du!.

thnx

 

[dadruid]

Hi digitalchaos. I like u, was running around to find some private guys to fix up a dish in my flat. The problem is Nakheel doesn't allow private operators to do this (atleast in bldngs that they have rented out). So the only option is to stick to DU. But i have seen lots of dish antennaes in the recent past in flats which am sure are companies owned. Will be worth checkin with 1 of them.

 

[Digitalchaos]

yea exactly........china is full of satallite dishes on balconies, and i honestly dont see why or how they could stop us, since we are not putting it on the roof, but on our own balcony instead. I doubt there is anything they can do!!. I have the right to put what ever i want on my balcony they cant do anything about it!. so my only problem is now finding someone to fix me that satallite dish which will cost just 100 dhs. I think thats a big difference from paying 50 dhs per month for the nxt 36 month!!!!!!!!!

 

[vishal73]

Hi I am also residing in I/C. I also thinks the same as you did.
You can call 050-7271231,Ali they will come and fix the dish for you.
I got this number from the watchman.
Cheers!

Hi....

I just moved to International city, and I was shocked to find out that the building doesnt offer any T.V Channels, and my only option is through DU. which costs 50 dhs a month just to get the free to air channels!!!!! so I was wondering if anyone could point me to a shop that will fix me a satallite dish on my balcony so I can watch T.V without paying a hell lot of money to Du!.

thnx

 

[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]

Recent Studio Sales in Inernational City How much did you buy or sell for?

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

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

a very good question

 

[adrian07]

Transfer fee?

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

 

[nitasha]

ic transfer

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

 

[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.

 

[nitasha]

ic

hi
i am very disappointed by knowing all this and u know becz of these kind of agents all agents get bad repo.....
anyways if u want me to help u on humanitarian basis being an agent i will try my best.
plzz send me details of the agent or agency u had a deal vt.

thanks regards
nitasha

 

[adrian07]

I also own one apartment in JBR.
Now I realized I'm quite lucky to purchase the apartment directly from the developer which is Dubai property.
To tell you the truth, I didn't know there are so many scams going around with none mayor developers. I guess I was naive to believe all others ageny were like a mayor developers such as Dubai property, etc...

Let me update the my situation

Can you review the following document.
---------------------------------------------------------
This is the confirmation for the Appointment Transfer of Sale of International City - England Cluster xxx Apartment xxx. Refer to the details below:

1st Owner : Mr. XXX

2nd Owner : Mr. Adrian07

Transfer Date : 2Xth of October 2007

Time : 1:00

Ref # : XXXXX

In-Charge : XXXXX

Location: : Nakheel’s Office : Al Soufoh Road opposite Knowledge Village before Royal Mirage Hotel, exactly before the entrance of Palm Jumeirah

Nakheel Ofc # : 04-3903333

Real Estate Rep : Mr. XXXXX

Note:

Please prepare a cash of 0.5% AED 2,585/- from the selling price payable to Nakheel as Land Registration Fee, also please be informed that you need to pay additional 2% AED 10,340.00 since this has been pre-registered to Real estate Agency.

Once you are in Nakheel’s Office please call us so we can coordinate to all person involved.

You are required to be present in Nakheel’s Office to take effect the sales transfer. If you will not be available you can send someone to represent you carrying an attested Power of Attorney (Authorization Letter).

Contracts will be handed by Real Estate Agency Representative.
-------------------------------------------------------------------
They said by phone call, I must be present at this schedule due to meeting date is fixed up with nakheel.
I have no intension to go to this appointment until they clarify transfer fee issue.
10 hour airplane flight is not a easy thing for me to just go especially there are so many uncleared issues are still standing.
I feel like they pushing me to come at thier schedule to finish off this deal.
What do you think? Can they just make a such schedule ignoring my opnion?

I sent a email to salesman requesting a receipt for his 2% commision and he replied saying he will send me a receipt.
I sent a email to real estate agency why they want to charge me extra 2% transfer fee, they didn't answered my question yet.
I also sent a another email to real estate agency requesting a sales contract, they didn't replied yet.

Regards

adrian07

 

[cuckoo]

Handover Charges

Hello Everyone,

Could anyone tell me what are the various charges that one has to pay at the time of handover.I had read it somewhere but I cannot find the thread.Charges such as land reg,affectation charges,title ,maintenance etc and how much are they? I would really appreciate if someone who has gone thru this could tell me.