Dubai Forums Dubai Expat Forums Dubai Expat Help Forum

Hi,

I'm currently looking at buying a property to live in.

Basically if I buy a 1,000000 apartment, the bank will finance 90%, leaving me to pay the deposit of 100000.

Alright so far - however the agent wants 10000, the bank charges are 9000 and there is a transfer fee of 20000.

This obviously means that I have to find
100000 + 10000 + 20000 + 9000 = 139000.

What I want to know is whether there is a way of rolling the agents fee and the transfer fee into the price of the apartment , i.e inflate the price of the apartment so that I don't need to find these extra charges up front.

Any ideas appreciated.

Cheers in advance.

I don't see how you can.

This isn't the UK you know.....

land department fees there too

the banks will only lend on 90% of the "original purchase price" so you may have to find a larger deposit.

Also like someone said above you also have land registry fee's to add on.

this can be done if the seller agrees to do it. I have done it when i bought an apartment they included all the fees in the price and so the financing was not only the price of the apartment but also included all the fees. The only fees i had to pay was the 1% finance processing fee. so talk to the seller who will be issuing you the letter that you will use to get financing and work out a deal where they include it all as one lump sum for financing.

good luck !

Hi John,
as mentioned by others, bulk all fees together for your finance application. Most sellers/developers will do that. Good luck, and contact me if we can help with your purchase.
Regards
Garry Duffield
Director of Properties
Australian Property World