FAQ
1. What are the buying costs?
The buyer will pay 4% + AED 580 transfer fees to the Dubai Land Department
The buyer will pay AED 2,000 or AED 4,000 Trustee admin fees (+5% VAT)
The buyer will pay 2% agency commission (+5% VAT)
The buyer should refund the service charges to the Seller on a pro rata basis from the date of sale
2. How do I make Payment?
The transfer fees need to be a Manager's Cheque (bankers draft) in the name of Dubai Land Department
The Trustee admin fees can be paid by cash or credit card
The agency commission should be paid in cash or a Manager's Cheque on the day of sale
3. What If I am a Mortgaged Buyer?
There will be additional transfer fees of 0.25% of the mortgage amount + AED 210 payable as a Manager's Cheque to the Dubai Land Department
4. What is an NOC?
This is a No Objection Certificate, issued by the Developer. They ensure that the service charges and utilities have been paid and there are no outstanding issues with the property
5. How long will it take to receive the NOC?
It depends on the Developer, but it can be anything from 24 hours to 5 working days
6. What is a Form F?
A Form F is a Contract of Sale designed by the Dubai Land Department that every Buyer & Seller must sign
7. What do I need to bring for the NOC Application and for the Day of Transfer?
Please bring your original passport and your Emirates ID for the NOC application and on the day of transfer. On the day of transfer you will also need to bring your Manager's Cheques and cash.
|
