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Doaa Abd El-Jawwad

Doaa Abd El-Jawwad

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الأسئلة المجابة 80029 | نسبة الرضا 98.7%

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Who pays for the NoC(from developer) charges while...

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Who pays for the NoC(from developer) charges while buying a property in dubai from secondary market

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Who pays for the NOC(from developer) while buying a property in dubai from secondary market

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Pls let me know

إجابة الخبير: Doaa Abd El-Jawwad

Doaa Abd El-Jawwad

Doaa Abd El-Jawwad

Attorney

الأسئلة المجابة 80029 | نسبة الرضا 98.7%

We would like to inform you that all purchases in Dubai must be registered with the Dubai Land Department within 60 days of making the transaction, as the purchase will be canceled if the transaction is not registered within 60 days. In theory, the registration fee of 4% is assumed to be shared equally between the seller and the buyer, but in practice, the buyer pays the full fee. The buyer also bears the cost of the property registration fee. In the event that the property is purchased through a bank loan, the buyer must pay an additional amount of 0.25% of the total loan value to the Dubai Land Department, in order to register the mortgage on the property. These costs do not apply to real estate purchases for cash.
Although the services of a real estate agent may increase the cost of purchase by 2% in addition to the value added tax, which is paid upon completion of the transaction, cooperation with a real estate agent contributes to facilitating the transaction procedures to a large extent. Working with a trusted agent ensures that you get the best advice on your journey from Dubai's real estate market to the apartment complex or property developer of your choice. It also assists the real estate agent in the overall purchase process, and is keen to provide all the necessary information and details of the associated costs.
 The buyer must also pay the real estate ownership transfer fees. The appointment of a licensed entity in the procedures for transferring real estate ownership contributes to the coordination of all documents, contracts and financial measures related to the transaction in accordance with the law.

إسأل Attorney

Doaa Abd El-Jawwad

Doaa Abd El-Jawwad

Attorney

الأسئلة المجابة 80029 | نسبة الرضا 98.7%

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