Buying Guide

How to Buy Property in Dubai?

STEP BY STEP GUIDE IN BUYING REAL ESTATE IN DUBAI

First Figure Out The Basic Procedure

The process of buying a property in Dubai is quite straightforward. Any individual holding nationality of any country can buy a property in Dubai. The process seems to be a little daunting for the first timers. However, no matter where you are in the world, you just need to look out for a few legal formalities relevant to the real estate and then you are completely ready to own your dream property in the bustling Emirate of Dubai.

Research On What You Can Afford

Firstly, you have to decide whether you are going to mortgage the property? If yes, then you have to arrange 25% of the total amount as the down payment. Make a complete plan and calculate how you are going to pay your mortgage. Once you are done with this, you are ready to go

Look For A Trustworthy Real Estate Company

Look for an experienced real estate agency or company that can fully understand your budget and requirements. People who work in Real Estate have great knowledge of the ongoing market situation and they can guide and suggest you in a much better way.

Make An Offer For Your Favorite Property

Start looking for properties with real estate agents and if you find a property interesting, make a quick offer for it. The reason behind making an offer quickly is the forever changing and dynamic nature of the real estate market of Dubai.

Establish A Buyer & Seller Agreement

Once you and the seller have agreed on the offer that you made previously, the next step is to negotiate & outline the terms and conditions of the sale with the seller.

Apply For NOC And Effect The Transfer Of Ownership

The last legal and mandatory step of buying a real estate property in Dubai is meeting the seller at the developer’s office and applies for NOC (No Objection Certificate). The developer will then issue the NOC for a fee. Once the NOC is issued, meet the seller at the Dubai Land Department’s office and apply for the transfer of ownership.