Frequently Asked Questions (FAQs)
1. Registration & Eligibility
Who can register to bid?
Anyone over the age of 18 with a valid Emirates ID or passport can register. Registration is free and
can be completed online.
How do I register?
Simply visit our website, click “Register”, and follow the instructions to verify your identity and
create your account. A refundable security deposit is required to activate your bidding privileges.
Do I need to be in the UAE to bid?
No. With our online auction platform, you can register and bid from anywhere in the world.
Do I need to visit your office physically to register or complete any part of the process?
No. Registration, bidding, payments, and signing documents can be done 100% online.
Can I register on behalf of someone else or a company?
Yes, but you’ll need a Power of Attorney (POA) or official company authorization letter, along with
valid documents for both parties.
Can international buyers participate?
Absolutely. Overseas buyers can register and bid remotely. Additional documentation may be
required based on jurisdiction.
2. Auction Types & Process
What types of auctions do you offer?
We offer the following auction formats:
• Timed Auctions: Bidding is open for a set time window; the highest bid at closing wins.
•Hybrid Auctions (Coming Soon): A mix of live in-person and online bidding, offering
flexibility to both local and global investors.
What is a Timed Online Auction?
At Prime Property Auctions, we follow a Timed Online Auction model. This means:
•Each property is listed with a fixed bidding period, typically between 7 to 12 days.
•During this time, registered bidders can place their offers at any time.
• When the countdown ends, the highest valid bid is declared the winner — subject to seller
or court approval, if applicable.
• All bidding is transparent, time-stamped, and accessible via our secure online platform.
This format allows buyers to participate conveniently from anywhere, while sellers benefit from
broader exposure and competitive offers.
What types of properties can I bid on?
Residential, commercial, land plots, and special court-related properties in Ras Al Khaimah
(expanding across the UAE within 12 months).Can I place multiple bids on the same property?
Yes, as long as you’re within your bidding limit. You can increase your bids any time before the
auction closes.
How do I place a bid during the auction?
Once registered and approved, you can bid via our online platform, mobile app (coming soon).
Is there a starting bid?
Yes, each property will have a published starting bid in the auction catalog or listing page.
How are starting prices determined?
They are set based on:
•Independent property valuation reports
•Market analysis
• Seller and court instructions
How will I know if I’ve won an auction?
Winners are notified by email immediately after the auction closes. You will also receive an invoice
and next steps.
How will I know if I’ve been outbid?
You will receive instant notifications via email and/or SMS when another bidder outbids you.
3. Security Deposit & Bidding Limits
Why is a deposit required?
To validate serious bidders, a refundable deposit (typically 20% of the property’s starting price) is
required before bidding.
How is my deposit refunded?
If you do not win, the deposit is refunded within 5–7 business days, depending on your bank or
payment method.
Can I use the deposit toward the purchase if I win?
Yes, the deposit is credited toward the final purchase price.
Is my deposit safe?
Yes, all deposits are securely held in a client trust account and protected by UAE compliance
regulations.
4. Payment & Settlement
What are the accepted payment methods?
•Bank transfers
•Manager’s cheques
•Payment via licensed trustee (To be updated)
When is the payment due?
Full settlement must be completed within 7–30 working days from auction close, depending on the
property type and agreement.What if I fail to complete payment on time?
Your bid will be cancelled, and your deposit may be forfeited. Additional legal action may also
apply.
Are deposits refunded automatically or do I need to request it?
Deposits are not refunded automatically after the auction ends if you are not the winning bidder.
You need to send us an email requesting a refund.
5. Legal & Documentation
Is the company licensed and regulated?
Yes, we operate in accordance with UAE property laws and collaborate with licensed entities
including RERA, RAK Municipality, and DLD as needed.
What documents are needed to sell a property?
• Title deed (TD) / Sales and Purchase Agreement (SPA)
•Passport or Emirates ID
•NOC from developer (if applicable)
•Power of attorney (if applicable)
Is legal support provided?
Yes, our in-house legal team and Business partners handle conveyancing and transfer processes
end-to-end.
What is the KYD requirements?
KYC Requirements for All Bidders:
•Passport (Visa/EID if applicable)
•Proof of funds (e.g., current bank statement)
•Proof of address (e.g., utility bill)
Additional Documents Required from Winning Bidders:
•Passport (Visa/EID if applicable)
•Proof of funds (last 3 months of bank statements; additional documents may be
requested)
•Proof of address (e.g., utility bill)
6. After the Auction
What happens after I win?
You’ll receive:
• A winning confirmation
• An invoice with payment details
Full support with ownership transfer and documentationWho handles the title transfer?
We coordinate with government authorities, developers, and trustees. You (buyer/seller) or your
representative with valid POA should be required to attend the transfer appointment in person.
Can I change my mind after winning?
No. Winning a bid is a binding commitment. Failure to proceed may lead to loss of deposit and
legal consequences.
When do I get possession of the property?
Upon full payment and completion of legal transfer, usually within 2–4 weeks.
7. Fees & Charges
Are there any extra fees?
Yes, fees may include:
•Buyer side: RAK Municipality transfer fees, NOC, Court/Admin fee (if applicable), Admin
and Conveyancing (if applicable), and Agency fees
• Seller side: Agency fees and administrative fees (it varies based on agreement)
All fees are transparently disclosed before bidding.
8. Platform & Technical Support
I’m facing issues while registering or bidding. What do I do?
Contact our technical support via email or phone. We’re available during business hours and on
auction days.
Is support available during auctions?
Yes, our support team is available during all live auctions to assist with bidding issues or general
inquiries through Mobile / WhatsApp. (See Customer Support & Contact below)
Will I receive bidding notifications via email or WhatsApp?
Yes, bidders are notified through email, and optionally WhatsApp.
Is the platform multilingual?
The platform currently supports English and Arabic, with more languages under development.
Can I bid on mobile?
Yes, our platform is optimized for all devices.
9. Bidding Process
Can I set a maximum bid in advance?
Yes. Our platform supports proxy bidding, allowing the system to bid on your behalf up to your
maximum amount.
Is there an extension if someone bids last second?
Yes. “Anti-sniping” rules may apply. If a bid is placed in the final minutes, the timer extends to give
fair opportunity.10. Transparent Auction Experience
What makes Prime Property Auctions different from traditional estate agents or portals?
We offer a fast, secure, and fully transparent process through competitive bidding. Buyers know
they’re getting a fair opportunity and sellers benefit from accelerated sales.
How does the platform ensure transparency in pricing and bidding?
All bids are visible to registered users in real-time, and bid increments are fixed.
11. Seller Information
What type of properties are best suited for auction?
Properties that are priced competitively, have high demand, or need quick disposal are ideal for
auctions.
How is the reserve price set?
We conduct a market appraisal in consultation with the seller to set a competitive reserve price.
Do I have to accept the winning bid if it meets the reserve price?
Yes, once the reserve is met, the sale is binding for both buyer and seller.
12. Customer Support & Contact
How can I reach you for help?
You can reach us through:
Mobile / WhatsApp: +971 56 638 8300 / +971 50 8162932
Landline: +971 7 203 7810
Email: info@property-auction.ae
Office: Level 42, Julphar Tower, Ras Al Khaimah
Hours: 9:00 AM – 5:00 PM (by appointment only)
13. Miscellaneous (General)
What is Prime Property Auction?
Prime Property Auctions (PPA) is the first and only government-licensed real estate auction house
in Ras Al Khaimah (RAK). We are transforming the UAE property market by offering a transparent,
digital-first auction platform for buyers, sellers, developers, and investors.
We are fully licensed by the Ras Al Khaimah Department of Economic Development (DED) and
operate under the regulatory framework of the Real Estate Regulatory Administration (RERA) and
RAK Municipality. Our membership with the RAK Chamber of Commerce further affirms our
credibility and compliance.
Is the auction platform secure?
Absolutely. Our platform uses encrypted technology to ensure secure bidding and data protection.
Can I inspect a property before bidding?
Yes. Viewings can be scheduled prior to auction. Property details are available online for registered
users.Are auction properties undervalued?
Often, yes. Auctions attract motivated sellers and competitive bidding may lead to prices below
market value.
Are auctions only for distressed or repossessed properties?
No, we offer a wide range including luxury, off-plan, developer-owned, and private resale
properties.
Can I get financing for auction purchases?
Yes, but it’s your responsibility to arrange pre-approval. Auctions require quick settlement.
Do you assist with mortgage or legal paperwork?
Yes, we partner with banks and legal firms to assist buyers through the financing and conveyancing
process.
What if the property is tenanted?
If the property is sold with an active lease, the lease terms will transfer to the new buyer. Vacant
possession will be stated if guaranteed.
What types of properties are auctioned on Prime Property Auction?
We auction a wide range of properties including residential, commercial, land, and off-plan
developments. Currently focused in Ras Al Khaimah, we plan to expand across the UAE in the near
future.
Are the properties verified before auction?
Yes, all listings are verified for legal ownership and documentation before they are auctioned.
Is there a reserve price?
Yes, every property has a reserve price, which is the minimum price that the seller is willing to
accept.
What happens if the reserve price is not met?
If bidding does not reach the reserve price, the property will not be sold, and the highest bidder is
not obliged to proceed.
Are all auctions binding?
Yes, once the highest bid meets or exceeds the reserve price and the auction closes, the sale is
legally binding.
Are international buyers allowed to bid?
Yes, our platform is open to both local and international buyers, subject to UAE property
ownership laws.
What is the duration of a typical online auction?
Most auctions run for 7 to 14 days, although some may be shorter or longer depending on the
property.
Disclaimer
This FAQ is provided for general guidance only. All processes are subject to updates based on legal,
technical, or operational changes.