Special Swapping for real ready unit
Dear all ;
I have an unit in B7 and currently I found a one who want to swap it's studio in International City with mine.But he want to deduct 50,000Dhs from our paied amount.
I have boght my unit at 300,000Dhs and paied 150,000Dhs.
Is it a good deal ?
He told me that We should sign MOU and after 2 weeks he can change the title deed to my name.Is it noraml to take 2 weeks to do title deed?
He asked me 40,000Dhs for MOU.
Best Regards,
Farzad
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WHAT IS THE PRICE OF THE PARTMENT IN INTERNATIONAL CITY
What is the price of the studio partment which u have swapped against your B-7 apartment?? Do you have to pay in limp sum or in installments?? If its a viable proposal I might also find such arrangements in the market. Do let me know.
Dear sir ; It is 280,000
Dear sir ;
It is 280,000 Dhs for France Cluster , 480sq.ft.
Best Regards,
Farzad, let me get this
Farzad, let me get this right... So you are selling your B7 apartment (studio or 1 bed?) for a price to the buyer of 250,000AED after the discount and you are buying the international city studio apt for 280,000AED.
Therefore, your international city apt will cost you 30,000 more overall. But because you have only paid 150,000 for B7 and deducting 50,000 discount, you will need to pay the difference of 70,000 for the international city studio including the MOU fee.
If these figures are correct, sounds quite good, considering you will be getting a ready apt in Dubai!
What does everyone else think?
Paul
ITS A GOOD DEAL ANY OTHER AVILABLE LET ME KNOW?
If every thing is genuine and there is no hanky panky then its a reasonably good deal , I would also gofor such deal, is there any available??
No its like this?
As far as I understand.....
The apartment in IC is for 280000
Your payment of 150000 in B7 EC will be considered as only 100000, after deducting 50000 discount/swapping charges.
40000 is in a way down payment for signing MOU agreement.
So actually after paying 40000 you will end up paying another 140000 (280000 minus 100000 minus 40000) to get the apartment in IC.
Thus you apartment in IC will cost you 280000 plus 50000 i.e. 330000.
The benefit is that you are able to salvage 100000 out of the 150000 that you have paid for B7 EC!
That makes sense
That makes sense I2Ajman.
Farzad, I am assuming your B7 is a 1-bed apt, what size is it?
Paul
Dont"t do it!
Don't do it my friend! First, it has no approval from either Dubai Regulator Authority nor ARRA. In fact, al-Barghouty has recently warned people not to get into such arrangement without prior approval by the two Authorities.
Secondly, to be asked to pay 40KAED for MOU is highly and obvious scum! Why should you pay such amount while the MOU - is between both of you?!!!!!!!!!! Furthermore, MOU needs no fee of that figure at all!
My personal advise is DON'T DO IT! You don't know what you are putting yourself into!!
attn farzad!!
After doing some research .I want to only alert you that u got to check these kind of deals with ARRA and RERA .
Most imp after this is that apartment should b completely ready.I have not understood by u r writings whether it is completely ready.
Because from my knowledge all the projects of studio apartments(i mean buildings with studio apartments only) in international city has been put on hold for indeterminate time as there are no more demands for studios due to recession.all the poor investors are being asked to transfer to 1,2 bedrooms that too at a much higher price than market price as they r already stuck with these developers.be very careful!!!
Swap deal -
Farzad:
Economics of the deal aside - which has a lot of positives - one of the biggest risks, in your description, is that you have to pay AED40,000 upfront. The other party could vanish with the cash and leave you holding a worthless MoU ....or worse still, he takes the cash and title of your unbuilt flat in Ajman...and in turn, doesn't make the title transfer.
I would seriously urge you to find a mutually agreeable 3rd party/or escrow arrangement - for the 40,000 which you have to pay on signing the MoU. Eg. a law firm that will write a very tight MoU / roles & responsibilities of each partner. The money could be held by a law firm or a bank...and releases it upon proof of performance.
If you don't want to go through the headache of law firms etc... at least ask to see the MoU that is being proposed....and read it carefully. If it doesn't protect you... then it is probably useless. Dubai RERA may even have staff that will advise you for free.
Too many people have been parted with their money too quickly....
advice
i have 2 bed rooms flat in rainbow 10 / sweethomes , i would like to swap it with 1 bed room or studio in dubai ---> international city , discovery gardens or silicon oasis . i paied 205000 still 200k waiting and next 2 months i have 2 pay arround 37000 , if good offer available please contact 0503308940
NB i have lawyer with me for serious offers without cheeting !
brothers this is no kind
brothers this is no kind of adv. but we are in great stress , uae and ajman gov dont care about people paied thire hardly earned money to unresponsible developers and u are posting offers in this blog which may be small exit from this mess , i know dubai is worse since i have another flat with dubai lagoon / schon wgo are masters in cheeting but at least paying for ready apartment is safer since there is no infrastructure in ajman for next 10 years !
Do NOT Swap anything without ARRA and ERRA!
simple rule of the thumb: Do not swap any unit -finished or unfinished- without full approval by both ARRA and ERRA, in addition to the protection by your lawyer. Otherwise, you may end up not only with nothing but also with a lot of tears!
You should also involve at least one developer of the two units to be swapped. They may not recognise you; they did not enter into agreement with YOU.
Do not say you have not been warned!
Thanks for ur attention
Dear all ;
It is ready unit with tanatnt.It is rented up to April.(I should pay 180,000Dhs)
He need around 30,000 Dhs on MOU and told me it takes 20days to change title deed in my name.Is it normal?
How i should pay the rest which is 150,000Dhs in Rera office to be safe?(Shall i have in cash in my pocket)?
Thanks for all comments.
Best Regards,
Hi dear , if you find any
Hi dear , if you find any more such offers of swapping properties over ,plz do let me know....its a very good deal just keep your eyes open and try to get someone involved who knows everything related to that transaction
good luck
I like to know more about
I like to know more about swapping properties. If these are good deal then i must for these deals.
real estate investing
have 1 unit in EC, want to swap to Dubai
Hi, All,
I have 1b/r unit in EC, want to swap to Dubai also, if have any good chance, please let me know, 0556121635, thanks a lot.
Swap with Ready Apartment
I have 2 apartments in Ajman, 1b/r unit in Ajman Boulevard and 1 b/r apartment in GCD, I would be happy to swap it with ready apartment in International City, please let me know if any one is interested
Thanks