Dubai Land Department holds public auctions, where investors, buyers or auction companies can purchase properties. After the auction, DLD provides services to buyers, sellers and real estate companies for registration of property sold in an auction in Dubai.
Customers applying for registration of property sold in an auction in Dubai via DLD can obtain a title deed. Plus, they can register the sales transaction.
Let’s go through the complete service procedure, required documents and fees to register property sold in an auction.
How to Register Property Sold in an Auction in Dubai?
Customers involved in a property sales transaction from an auction organised by a registered real estate company in Dubai can register their property on the DLD’s website. Moreover, applicants must fill out Form F, one of the essential RERA forms in Dubai.
Here are the complete details to register the property sold in an auction in Dubai.
Required Documents for the Registration of Property Sold in an Auction
Customers involved in property transactions at an auction need to submit the following documents to register the property sold:
- Letter from the official entity, Dubai Courts or Minors Affairs (if available) or submit a personal request
- A valid certificate of the real estate valuation in Dubai for the auction (property valuation certificate must not be older than six months)
- An electronic copy of a verified title deed certificate
- Copy of the Dubai Municipality map or DLD Map
- An electronic copy of Emirates ID for buyers and sellers
- Valid Passport for non-resident applicants
- A copy of the power of attorney (in the absence of the property owner)
- Auction placement by Sale letter from the authorities
Procedure for the Registration of Property Sold in an Auction
The process to register the property sold in an auction in Dubai is very simple. Customers must visit the DLD website and access this service. After that, the following steps will help registration of the property sold in an auction in Dubai:
- Register and create an account on the DLD website
- If you have an account, log in and choose the type of user
- Choose the registration of the property sold in an auction service
- Fill in the personal information and attach the required documents
- Pay the required fees (buyer and seller fees are different)
- The customer receives the title deed, map and receipt voucher via email
Fees for the Registration of Property Sold in an Auction
Seller Fees
- 1% fee for supervising public auctions (up to a maximum of AED 30,000)
- In the case of an electronic auction, a 1% fee for supervision public auction fees is a maximum of AED 10,000
- Pay 2% of the sale value for registering the sale
- Knowledge fees of AED 10
- Innovation fees of AED 10
Buyer Fees
- Pay 2% of the sale value
- Title deed issuance fees of 250 AED
- Land Map Fees of AED 100 for lands (the lands must not be subject to the authority of Dubai Municipality)
- Land Map Fees of AED 325 (Unified map with Dubai Municipality)
- Fees of AED 250 for the map of the real estate unit
- Knowledge fees of AED 10
- Innovation fees of AED 10
The payment method for the registration of property sold in an auction is quite simple. Applicants can pay the fees at licenced real estate companies in Dubai. The auction companies can pay the fees by depositing a cheque in the account of DLD.
That concludes the complete process for registration of the property sold in an auction in the Emirate. You can also follow the guide to selling property in Dubai to learn about procedures. Following that, you can list your property for sale in Dubai.
Stay tuned to the dubizzle real estate blog to learn the procedures and costs for real estate transactions in the UAE.
