Buying a property in Dubai is a straightforward process that should be finalized in a few days. If you have the support of an expert and active experts like those in our team at Exclusive RE, purchasing a property is the easiest part in Dubai with the help of our professional team. Here are the few steps that are required in the process-
Before finalizing the deal, it is important to conduct research on the process of purchasing the property with the help of a well reputable real estate firm like Exclusive RE. Here are list of all the approvals and documents you will need to finalize the deal which are mentioned below-
It is ideal to discuss the contract signing terms (Vision Real Estate will facilitate/help in conducting the search for the client based on client’s budget, area preferences, lifestyle) with your real estate agent to avoid disputes and ensure compliance.
Once you have identified your ideal property and understood the purchasing procedure, the next step is to speak to the seller to discuss terms. Whether the payment have to be paid upfront in cash or mortgage is acceptable? It’s important to draft a precise contract that protects your interests as a buyer. The contract must outline the pricing and payment methods considering all other legal technicalities. Clarity in the contract is pertinent to avoid miscommunications or scams at a later stage.
Download the sale contract Form F from the website of the Dubai Land Department. According to the law of the land, it is mandatory for both parties to sign this Memorandum of Understanding (MOU). The form is flexible to be amended to include your own terms, or you can get the help of our professionals at Exclusive Vision Real Estate to do so.
The form has to be signed by both parties preferably at the Registration Trustee’s office. You will also be required to pay 10% as a security deposit on the property to the Registration Trustee, you receive them once the whole transaction is completed.
Ask the developer to produce a No Objection Certificate (NOC) and finalize the ownership transfer. The NOC helps in ensuring that there are no outstanding service bills or charges on the property.
The final step is to transfer to ownership at the registrar’s office which can be done by attending in person or sending your authorization. Submit the following documents (the step could be concluded quickly if you have already prepared the required documents);
Once the documents are submitted, the transfer is finalized in a day.
Are you ready to purchase a property? Call our experts at Exclusive RE to finalize your deal. For your hassle free property deals our brokerage firm Exclusive Vision Real Estate is there for you with each of your steps into your deals.