mpat,

I do not know ehen the next meeting is, but will keep you informed. I can find out when I visit RERA. 2nd trip was not successful, mostlt their fault, partly mine.

RERA should have more people to attend to complaints. Not many people there and there is chaos.

Met a lady who bought a house in the secondary market, through an A1 real estate agent ( the ones we usually call good ). The seller refuses to transfer for obvious reasons as the flat has appreciated. The buyer is stuck with her down payment and lawyer fees...and the best part is RERA cannot do anything about it.

REgards

Roshan

It seems RERA are in a right mess, thats how it seems. It seems they are all playing a game! The two major developers and RERA that is.Everyone is on the make! Nakheel and Emaar have a lot to loose (revenue) imagine all the 1% and 2% they are charging for every single transfer that takes place. They resisting big time to transfer evrything to RERA. Who is suffering the "Investor". Just look at International City all transfers are on hold indefinity until someone gets their act together. Who is suffering the "Investor"! The market in this area in slowing down, price incease in slowing and people stuck in between who are waiting for transfers to be completed who have paid out OR need to get paid are pulling their hair out. Say Roshan can you talk to someone on this. Is there any light at the end of the tunnel (but how long is the tunnel?). Its having a very negative impression loacly and Internationaly. Any ideas.

That is the position I am in.... awaiting title deeds in order to complete the sale of my apartment in Greece cluster. Thankfully I did not sign any MOU so price is going up. However that is only because I remained cautious and stalled signing.
I actually had an appointment to handover the unit with Nakheel. The Power of Attorney - Vista Real Estate, were trying to charge me an additional 2% of my SELLING price. I was advised to seek the advise of RERA. Which I did.
RERA advised me they had no right to do this and should log an official complaint again Vista Real Estate. Again I did was I was advised. However I did have concerns that if I lodged a complaint against Vista they would not show up for the transfer. RERA said no don't worry about that they must attend. Well they didn't. As soon as Vista knew they had a complaint against them they refused to attend. RERA left me in the lurch and did nothing to help the situation. I therefore lost my appointment which was in April. Imagine if Id commited to a price then like many others have. In limbo till at least end of July when they estimate Deeds to be ready.

You are right RERA is still not geared up for the investor problems. As you said, it's dangerous to go as per what they say.

If they could only apply the same rules what we apply while transferring a car, where the buyer and seller meet at the traffic department and do the transfer in minutes. That eradicates all MOU's, 2% commission paid to the developer, guarantee cheques and all that crap.

Simple, buyer and seller go to land department. After signing papers, the transfer takes place.

In case transfer cannot take place due to lack of documents, the property is locked in the system so that the seller cannot change his mind. The buyer pays RERA the advance amount of say 10% of the value so that the buyer does not default. A clean transcation without much fuss.

What is happening is RERA is not geared for the massive in flow. You have to be there to see the attitude of the employees. People are made to wait for hours.

If you have an appointment in RERA, do not forget to put a parking ticket for atleast 2 hours and tell your boss you will not be in for half a day

Regards

Roshan

Guys,

So what can we do? is there ANYONE who can complian to!! or is it going to fall deaf ears, so whats the point. There are loads of people in UK and other places who are worried about this kind of situations.

I have a unit that I need to complete the transfer on asap. I have an MOU, I have give power of attorney to the buyer and taken a down payment.

I have committed so I will stick to my agreement etc .. thats not the concern, but I need to get the balance asap. I think the buyer should be pretty happy, as he can start to use the property and starting on his investment without paying the full price, plus he is complety safe and laughing all the way to the bank! its the seller who is suffering here ... I want to invest else where but cannot.

But who will listen, I wish RERA would get their house in order soonest, because the standard reply right is "In Progress". WE will do it in ourrrr good time!! not yours!!!

Well,
Who exactly are RERA?
Is it a government run organisation?
it's amazing how quickly things change, I only bought into this market a month ago, and I assumed, from my research, that RERA were the answer to all investors dreams.
That they were the absolute authority and completely in control, and that if they o/k'd a develepor it was a rock solid guarantee.

Now, I'm getting the impression that it is some hastilly thrown together side department of someone/sometheing, where no employee wants to be transferred to, and pass their frustration onto the people who need the help-US.

To be honest, I do not mind stuff like the 2% transfer rule, it was clearly explained to me before I got involved, and in reality, it should help things move along. when someone is no longer receiving this fee, all motivation to reach a conclusion disappears from those who can actually help.

In reply to Syedatt....

The only reason you give Power of Attorney is to receive your FULL money!
Like you say, this guy is laughing.
You must also check what POA you have given, as I believe there are 3 options. Not one for a single unit. Ie 1. POA over all Dubai properties, 2. POA of International City, 3. POA of entire building.
Until you have clarified that, you should not invest in any other property.
Have you contacted the building owner to check the Deeds have been applied for ? You can then follow up with Nakheel who will confirm if they were in actual fact applied for. Building owners are delaying as they are having to come up with a lump sum to apply for them, which they will probably have invested else where. My Deeds were applied for around the 3rd week of April and I am expecting them to br ready end of July.
Good Luck

Thanks for the advise. I am in touch with my building owner, he tells me that Nakheel have transfered the bulding to RERA, (he has paid the monies). According to him RERA have entered the building into their system, but have not added the units yet. This information will include names of people like u and I who are the unit owners. This he says could take 2 - 3 months.

Is this true, can one go and acquire direct with RERA, will they entertain us? I would really like to speak to someone on this issue and see if they can move things along.

Any advise would be welcome.

Today was my third visit to RERA for the same problem. I was given an appointment for today, only to find out that the person who was to deal with my case was on training...in other words the person who gave me the appointment goofed up.

Then the ping pong game started. I was told to meet someone on 4th floor, when I met the secretary to this person on the 4th floor, I was told to meet someone on the second floor. I flatly refused to go to the 2nd floor and decided to go home.

I have concluded that RERA will not be able to solve problems as yet. I will not cross swords with my developer as RERA will not be able to support me if any problems arise.

I will go to my developer and re negotiate my payment terms like a thorough gentle man.

Heard another horror story in the secondary market. The buyer paid Dhs 500,000 for a commercial in the secondary market, The seller changed his mind. Now the seller has served a legal notice nad the case has gone to court, the clauses in the contract favor the seller.

The seller has approached RERA and...the battle goes on. I don't RERA can do much after today's experience.

Regards

Roshan

Yes, good advise - that is the esson I have learn't cross the swords later. When you know you are ok. I did it far too early, which I was acually correct to do. Just fighting fo my right to have my keys and not be ripped off my greedy agents. However it did me no favours lesson learn't.
RERA is a dredful place. As an Expat woman in the Middle East for 8 years I have never felt the hard done too woman speech... That is until I went to RERA. was glared at by every man in there. end fromn floor to floor, room to room.When I finally got to the person I needed to see he just ignored me and let some random guy push straight in front of me like I was invisable. When I finally did speak to him he laughed in my face when I asked for advise. He just kept repeating 'advise' and chuckling in his chair!!!!
I left the office in tears and I am strong woman believe me!
I persisted with phone calls until I got a lady to deal with. I explained to her how I had been treated and reply was "yes the guy you saw has some problems!" & has limited English! What the hell. There are hundreds of locals milling around in that office, so why the hell do they put a limited English speaker ith problems against I assume women and Westerners in general front line to deal ith their complaints!!!

Saydatt, You could contact Philip @ Nakheel. He is in the Deeds Department and even if he cannot help directly he can advise you if what you ar being told is correct. His number is 04 3658696