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 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 :

  • Sale contract: signed at the notary's office or before the head of assistance's office in each district, and transmitted to Secratary of the Real Estate Registry (amin sejel 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 50000LBP in stamps, to be provided with a new one.
  • Application of registration: submitted by the buyer. The cost of the 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 change 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 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

 Requirement Documents to rent a property

  • Title deed
  • Real Estate certificate.
  • 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 residance (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.
  • 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 (Section 1,2 and 3).
  • Property internal regulations.
  • Copy of benefit plan and easement of the alignment plan.
  • Copy of the habitation permit certified if the construction was completed prior 1964.
  • Allotment map i.e zoning and planing map.
  • Apprasial 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.

            

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Century 21 1st Global is a real estate franchise company represented by brokers and sales representatives offering homes for sale throughout Lebanon. All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither Century21 1st Global management(s) nor broker(s) and sales representative(s) shall be responsible for any typographical errors misinformation or misprints, and shall be held totally harmless. Owners reserve the right to modify prices without prior notice. Each office is independently owned and operated.



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