Closing Costs & Requirements

The real estate closing, also known as "settlement," is the official transfer of property ownership from the seller to the home buyer. The following sections will help you understand the process.

To Sell a property

Required documents to sell a real estate property.

Requirements for registration at the real estate chambers(dawa2er l 3ikariyeh):

• Sale contract: signed at the notary's office or before the head of assistance's office in each district, and transmitted to Secretary of the Real Estate Registry (amin l sejel l 3ikari). The sale contract's cost is a percentage of the value of that contract, fixed by the municipality of the region where the operation is taking place.
• Title deed(sanad melkieh): usually with the owner. It costs you 5000LBP in stamps, to be provided with a new one.
• Application of Registration: submitted by the buyer. The cost of that application is a percentage of the price of the property to be registered. That percentage is fixed by the relevant municipality.
• Rental value: It includes
• Certificate about the contents from the competent municipality upon request
• Receipts confirming that the seller has paid the municipal and financial fees (taxes imposed on the constructed properties)
  *The cost of these documents changes with the municipalities and the legal status of the property.
• Valuation is made by an expert appointed by the ministry of finances. The cost of the valuation is fixed by the judge appointed to that case.
• Area map statement: From the map register in the cadastre. This will cost you an approximately 15,000LBP.
• Surface map: The map generally costs approximately 7,000LBP

To Rent a property

Required Documents to rent a property

• Title deed
• Real estate certificate issued at most from one month
• Lease contract organized between the lessee and the lessor and shall be registered before the municipality to calculate the due fees

Required Paperwork & Documents

Personal documents

• Identity card/certificate of civil status
• Recent family status certificate (6 months old maximum)
• Recent juridical register
• Recent proof of residence (certificate from the mayor or electricity bill | 6 months old maximum)
• Proof of income: for borrower and guarantor, if any
• Employees: authenticated salary attestation (salary slip accepted only for military members)
• Self-Employed: balance sheet, statement of income taxes, activity analysis, other - on case by case
• Copy of bank account statement
• Copy of NSSF card (National Fund of Social Security)
• Copy of title or deeds, if any

Documents related to the property

• Copy of the title deed of the residence subject of the loan
• Real estate certificate of the plot purpose of loan (sections 1,2 and 3)
• Property internal regulations
• Copy of benefit plan and easement of the alignment plan
• Copy of the habitation permit certified by the municipality or by the issuing authority, or a completion certificate if the construction was completed prior 1964
• Allotment map i.e. zoning and planning map
• Appraisal report issued by an authorized expert
• Selling agreement/contract or sale promise
• Copy of the receipt confirming settlement of the down payment to the vendor
• Engagement letter confirming to the bank the use of the plot as a primary residence