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Guide to Purchasing Real Estate in Dubai
Your Key to Dubai Living: Navigating the Real Estate Purchase Journey
Step 1 – Financial Preparation
Start by organizing your finances before browsing properties. Consult a mortgage advisor to understand all associated costs, including deposit, transfer fees, agency fees, sales progression fees, mortgage arrangement fees, and mortgage insurance fees.
Step 2 – Identify Essential Property Features
Create a list of essential property features based on your budget, such as the number of bedrooms, proximity to schools or workplaces, and preferences for villas or apartments. Prioritize these features and be open to compromise.
Step 3 – Understand the Dubai Buying Process
Have your broker explain the entire sale process in Dubai, covering making an offer, negotiation, required paperwork, NOC, transfer appointments, and handover. Ask thorough questions to ensure a well-informed decision.
Step 4 – Property Viewings
Keep an open mind during viewings and don’t dismiss a property based on one factor. Your broker can offer solutions, and it’s essential to focus on aspects that can be easily changed. Ask your broker any questions to address your concerns.
Step 5 – Make an Offer
When you locate a house that you want, make an offer, and your broker will begin discussions with the seller. Although it will be stressful, your DNL Properties broker will keep you informed throughout the process.
Step 6 – Sign the Agreement of Sale
The Agreement of Sale is a binding contract outlining terms and details between the buyer and seller. Your broker will guide you through this stage before proceeding to the transfer, creating a Unified Form F registered with the DLD.