Expat Forum For People Moving Overseas And Living Abroad banner
1 - 3 of 3 Posts

·
Registered
Joined
·
4 Posts
Discussion Starter · #1 ·
Hello,

I am thinking of purchasing an apartment in Dubai and I have viewed a few but all of them have some issues I would like to clarify with your help.

One seller has few units for sale who is selling them through POA. The owners in title deeds are in the name of Builders Company in Dubai. Seller claims that he is an investor and use this POA method to save on 2 per cent fees. They have also said that I could buy from the company on title deeds and make MOU with them directly but again I am not sure what will happen to POA this seller has got from the building company? Does the seller need to withdraw POA? Can rera registered agent sing MOU on behalf of owner because most of the owners are out of country and will be available on transfer day. Any help would be greatly appreciated
 

·
Registered
Joined
·
4 Posts
Hi, the seller will not avoid any fees by spointing a POA, it can just be alot more convienient to outside investors to sign on behalf of the seller. Yes an agent can be used to act as POA as long as they have checked that all proof ofownership is inplace and correct. You can makean mou direct with an owner yourself and you will save money but by taking this route you will need to know all the relevant steps to complete the transsction. It is advised that you find an agent you feel happy with and allow them to take care of all the paperwork and oversee the transaction as many things can occur and stall the process.

If you do take the route of dealing direct then i advise you to read the agreement properly that you have negotiated and signed as with puting forward a deposit you could face loosing this and especially even more so giving 10% of the purchase price directly to the seller as you have no middle man holding on your behalf.

Goid luck

Regards,

Anthony.
 
1 - 3 of 3 Posts
Top