Before diving into property hunting, evaluate your finances. Consider the down payment (usually 25% for expats and 20% for UAE nationals), mortgage options, and additional costs such as registration fees, agent commissions, and service charges.
If you're financing your purchase, secure pre-approval from a bank or lender. This will help you understand your borrowing limit and make the buying process smoother.
Work with a trusted real estate broker who understands the Dubai property market. A professional agent can guide you through the best locations, property types, and investment opportunities.
Visit different properties to find one that meets your needs. Consider factors like location, amenities, and future developments in the area.
Once you've found the right property, submit an offer through your agent. Negotiations may take place before reaching an agreed price.
After your offer is accepted, both buyer and seller sign an MOU, outlining the terms and conditions of the sale. At this stage, a deposit (typically 10%) is required.
Your agent or legal representative will guide you through due diligence, ensuring all legal paperwork and payments are in order. If using a mortgage, your lender will complete their assessment.
The developer must issue an NOC confirming there are no outstanding service fees or legal issues before ownership transfer can proceed.
Finalize the transaction at the Dubai Land Department. Once payments are made and paperwork is completed, the property title is officially transferred to your name.
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