Auction Terms
1. Submit a certified check in the name of Diar United Company for the specified value for each property to enter the auction.
2. When the auction is awarded to the buyer, the amount is paid immediately, and in the event of failure to pay within three business days, the auction will be repeated at the buyer’s expense, and he will bear all the shortfall in the amount and all auction costs.
3. The buyer acknowledges that he has inspected the entire property with a complete inspection that eliminates ignorance and fraud and has reviewed all information related to the property. He also acknowledges that he is fully aware of all regulations related to the sale and that he is fully aware of all the requirements of the relevant authorities regarding the property.
4. The Council’s option shall lapse if the auction is awarded to the buyer.
5. The successful bidder shall issue a bid check in the amount of 2.5% of the sale price + value added tax in the name of Mansat Real Estate Company, within three days after the auction is awarded to the buyer.
6. The buyer shall be required to pay the real estate transaction tax in the amount of 5% of the sale price, within a maximum of three days after the date of issuance of the invoice.
