Shutting Prices Of Dubai Real Estate Purchases

Shutting Prices Of Dubai Real Estate Purchases

Shutting prices are a vital part of an arrangement of land. When
closing a transaction, buyers and sellers usually pay these fees. Each type of
purchase agreement has its collection of conditions and costs. Here are the
expenses you’d have to pay for property purchases in Dubai,
as given by the Dubai Real Estate Land Department.

Sale

The below are documentary conditions and expenses for
registering the selling or purchasing of property or Dubai Real Estate units:

Required Records

  • Initial Deed of Title
  • Sales And Purchasing Agreement
    (SPA) (In the event of a developer’s sale)
  • The developer’s No Objection
    Permit (in the case of purchases in the freehold areas)
  • Agreement on Sale (MOU)
  • For non-residents, Emirates ID
    card or copies of existing passports

Fees for Land
Department

Seller:

  • 2 percent of the cost of the
    sale
  • Awareness Fee for Dirham: AED
    20
  • Dirham Fees creativity

Purchaser:

2 percent of the cost of the sale

  • Title Issuance fees for the
    Deed: AED 250
  • Map Issuance Fees: AED 100 for
    parcels of land and AED 250 for Villas & Units
  • Awareness Dirham Fees (AED 10
    added for each service): AED 30 Fees (AED 10 added for each service):
  • Dirham Payments for Creativity
    (AED 10 applied for each service): AED 30 AED 30

Registration, 

Trustee fees for registration:

  • Purchase price of property
    equal to or exceeding 500,000: AED 4,000
  • Purchase price of real estate
    below 500,000: AED 2,000

Renting on Buy

The documentary specifications and costs for registering a lease
for own deal between a Dubai Real Estate buyer and a financer are as follows. The ownership
of real property is passed to the buyer after the term of the agreement.

Required Records

  • Deed of Title
  • The developer’s No Objection
    Permit
  • Agreement on Delayed Selling
  • Letter from the bank detailing
    the sum of Ijarah with the start and end dates
  • Copies of the seller and
    purchaser’s valid passports or Emirates ID cards
  • Nationals of the UAE (Citizen
    File Number + Nationality Certificate Copy)
  • Non-UAE citizens (Copy of
    residency permit, Certificate of No Objection, or Passport)

Fees for Land Department

  • Seller: 2 percent of the price
    of the sale
  • Purchaser: 2 percent of the
    purchase price
  • Title Issuance fees for the
    Deed: AED 250
  • Map Issuance Fees: The total
    can vary depending on the form of real estate.
  • 0.25 percent of the sum of rent
  • Awareness AED 10 Charge for
    each Service

Fees for
registration

  • Property with a price of
    purchase equal to or greater than 500,000: AED 4,000
  • Property with less than 500,000
    selling price: AED 2,000

Mortgage discharge
and leasing on own transfer plan

Documentary requirements and expenses related to the processing
of a mortgage discharge (subject to the financer’s letter)

Required Records

  • Deed with Original Title
  • An official letter from both
    the borrower and the mortgage holder to cancel the mortgage
  • Initial mortgage contract
    (attendance of the owner is not required)

Fees for Land
Department

  • Fees for mortgage redemption:
    AED 1000
  • Information surcharge per
    operation: AED 10 A service surcharge

Delayed Selling

Based on a payment agreement negotiated by the seller and buyer,
the following are the documentary conditions and costs for registering the
deferred selling or acquisition of Dubai Real Estate property. Only upon settlement of all
fees is the title deed given.

Required Records

  • Deal on Deferred Selling
  • Sales and purchasing agreement
    (SPA) (In the event of a developer’s sale)
  • The developer’s No Objection
    Permit (in the case of purchases in the freehold areas)
  • Agreement on Sale (MOU)
  • For non-residents, Emirates ID
    card or copies of existing passports

Fees for Sale

A vendor

  • 2 percent of the cost of the
    sale
  • Awareness Fee for Dirham: AED
    20
  • Dirham Fees for Innovation

Purchaser

  • 2 percent of the cost of the
    sale
  • Awareness Fee for Dirham: AED
    20
  • Dirham Fees for Innovation

Registration,

Trustee fees for registration:

  • Purchase price of property
    equal to or exceeding 500,000: AED 4,000
  • Purchase price of real estate
    below 500,000: AED 2,000

Leasing for
Financing

Documentary conditions and expenses for the registration of a financial
lease contract
include the following:

Required Records

  • Initial Deed to Title
  • Letter from the financer about
    the financial lease filing specifies the start and end date and the lease
    duration.
  • The proprietor’s identification
    card (Emirates ID, passport)

Fees for Land
Department

  • 0.25 percent of the amount of
    borrowing
  • AED 250 title deed issuance
    premium
  • (250 AED if a villa and
    apartment) 100 AED property plan issuance fees
  • Awareness Rates for Dirham
    fees: AED 30 (AED 10 per service)
  • Innovation The cost of the
    Dirham fee: AED 30 (AED 10 per turn)

Finance Lease
Termination

The documentary conditions and expenditures for terminating a
financial lease are as follows.

Required Records

  • Deed of lease title
  • Bank’s NOC letter to end the
    funding lease
  • The proprietor’s identification
    card

Department Fees for
Land:

  • Fee for lease termination: AED
    1,000
  • Title issuance charge for the
    deed: AED 250
  • Issuance premium for property
    plans: AED 100 or AED 250 for villas or apartments
  • Awareness Fees for Dirham: 10
    AED per service
  • Dirham payments for innovation:
    AED 10 per facility

Registration Fees
for Trustees: AED 300 AED

(Deferred Sale)
Rent on Own Lease

Below are the documentary criteria and expenditures for
reporting a land lease between a real estate buyer and a financer. The
ownership of real property is passed to the buyer after the term of the deal.

Required Records

  • Deed of Title
  • The developer’s No Objection
    Permit
  • Agreement on Delayed Selling
  • Letter from the bank detailing
    the sum of Ijarah with the start and end dates
  • Copies of the seller and
    purchaser’s valid passports or Emirates ID cards
  • Nationals of the UAE (Citizen
    File Number + Nationality Certificate Copy)
  • Non-UAE citizens (Copy of residency
    permit, Certificate of No Objection, or Passport)

Fees for Land
Department

  • Seller: 2 percent of the price
    of the sale
  • Purchaser: 2 percent of the
    purchase price
  • Title Issuance fees for the
    Deed: AED 250
  • Map Issuance Fees: The total
    can vary depending on the form of real estate.
  • 0.25 percent of the sum of rent
  • Awareness Dirham Fee (added to
    each fee) of 10 Dirham’s

Fees for
registration

  • Property with a price of
    purchase equal to or greater than 500,000: AED 4,00
  • Property with less than 500,000
    selling price: AED 2,000

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