The Highest Bidder at a property's Auction Close is the buyer of the property.

The Buyer must pay a Reservation Fee that is one percent (1%) of the Auction Close Price within 72 hours following the Auction Close. The Reservation Fee is payable in trust to the account of the Solicitor for DubaiPropertyAuctions, Key & Dixon, in Dubai, U.A.E. The Buyer is required to send proof of wire transfer of the Reservation Fee, together with a copy of the buyer’s passport and instructions whether they will be effecting the transfer of the freehold property in person, at the respective property development office, in Dubai, U.A.E. or by power of attorney to Key & Dixon or other attorney of the buyer’s choice.

If the Buyer fails to send the wire transfer payment of the Reservation Fee within 72 hours of the Auction Close, the property in question may be resold without further notice to the Buyer and the Buyer will be charged a Cancellation Fee.