Frequently Asked Questions

What is a Transfer fee and Commission?

Transfer fee is a fee paid to the developer in transferring ownership from seller to buyer. It varies between 1 to 7 percent of the selling or original price. Commission is normally 2% of the selling price in which the buyer normally pays.

What is a premium?

Premium is the amount that you pay above the original price charged by the developer. This can be a percentage of the original price or a fixed amount. The premium plus the original price is the net selling price to the owner, and does not include fees or commission.

Why do people want to know the original price?

This is the price which the original owner paid to the developer. From this you can work out the percentage premium which is often used as a guide to see if a property is good value or not. In addition, when financing, all lenders need to know the original price, as most will not lend on any of the premium.

Can I Get a Dubai Mortgage?

A number of banks in Dubai offer mortgage financing to our clients. These include ADCB, UNB and Mashreq. Up to 90% mortgages are available up to 20 years subject to status, terms & conditions, and eligibility. Mortgages for non residents of Dubai are also available. For further details please contact us.

What is a Memorandum of Understanding ( MOU )?

This is a contract between the buyer and seller to secure a sale. A holding deposit is paid to the agent or seller to make the contract binding.

What is a Holding Deposit?

This secures the property for a period up to one month usually allowing the buyer time to organise funds through either financing or transferring of cash funds. This deposit is non refundable.

What is initial deposit?

This applies when buying direct from a developer and is paid to the developer in order to secure the property in your name. It is usually 10 to 15 percent of the selling price.