Before you begin, you will have to decide on your investment plan. Are you looking for an income producing property to capitalize on appreciation? Or, are you an end-user who intends to live in the property.
If your plan is to invest in an income producing property, you need to decide what type of property suits you. Will it be a villa, a flat or commercial property? Next, there are many areas from which to choose, but only you know your location preference. If you are an end-user, what suits your needs, and if relevant, your family’s needs, is critical. You may want to be close to your place of work, downtown, children’s schools or a metro station.
Before you begin your property search, it is advisable to arrange your finances and, if required, have a mortgage agreed in principle. This will confirm how much money you will have to fund the purchase, which will ultimately influence your property search.
We will arrange the viewings to help you get a better picture of the market availability and with a clear understanding of your requirements, you will check a selection of our properties that match your criteria.
Once you have identified a suitable property, you will have to present a written offer on the property.
Once your offer is accepted by the seller, you will be required to sign the MOU (Memorandum of Understanding) and give a 10% of the purchase price as a deposit, which will be held by the agency until the transfer of ownership.
You and the seller need to obtain all the required documents to proceed with the transfer such as mortgage contract, NOC from the developer, and liability letter (if is a mortgage property).
Final stage in the buying process is transfer of title deed from seller to you. This happens at one of the Dubai Land Department’s trustees transfer offices. We will inform you about the transfer fees to be payable to the Dubai Land Department.