Frequently Asked Questions

Next Level Real Estate

FAQ

I want to sell my property, what documents do I need in order to sell it?

You will need an original Sale Deed, Title Deed, relevant tax receipts and an Encumbrance Certificate in order to list your property for selling. Your buyer may demand to show these documents.

How big is an acre of land?

One acre of land equals 43,560 square feet. An acre is also compared to the size of a football field.

How to make a winning offer on a property?

Before making an offer you should consider researching the current market trends and do a comparative analysis which will help you find a fair market value of your property.

How much is the property transfer fee in the UAE? Why is it mandatory?

You have to pay a transfer fee in the Arab Emirates if you transfer your property to someone else. It is an administrative fee charged by the sales developer.

What is an off plan property?

A property which is only planned yet and will be constructed in future or its construction is in the beginning stage is known as an off-plan property.

Any property that is “free from hold” of anyone save the owner is considered to be a freehold. A property is completely owned by its freeholder, including the ground it is constructed on. You’ll need to set aside money for these expenses if you purchase a freehold because you’ll be in charge of maintaining your home and land.

What is Off Plan Property?

Off-plan real estate is described as that which is up for sale but has not yet been built. Purchasing a property of this nature is referred to as “purchasing off the plan.” When you purchase a property off the drawing board, you run the risk that the finished result may not only fall short of your expectations but will also be less expensive than the price you paid.

What are the required documents needed to qualify for a tenancy agreement for a property?

Tenants for Individual must have a current passport and a copy of their residence visa (Original copies of these documents should be shown by the tenant to the Property Broker).
Tenants for Corporates are valid trade license, a copy of the passport of the general manager (if he is signing the lease), and the tenant’s own valid passport are required.

Can foreigners/expats buy houses in Dubai?

Yes, foreigners can buy real estate in Dubai on a freehold basis, including both non-resident investors and expatriate residents. Foreign nationals are now able to buy, sell, or rent their property thanks to this.

What is the Purchase Process in Dubai?

The legal steps to buying a property in Dubai includes:

1. Creating a contract between a buyer and seller
2. Signing the agreement for sale
3. Apply for a no objection certificate
4. Transferring ownership via DLD.

Is buying property in Dubai a good investment?

Dubai offers better rental yields compared to many other established real estate markets. Investors can often expect to receive gross rental yields of 5% to 9%. Dubai is a cost-effective option to acquire luxury real estate because its property prices per square foot are cheaper than those in many other cities across the world.

What is the Dubai Land Department?

DLD organizes and promotes real estate investment, disseminates knowledge about the industry, and offers first-rate services to all of its clients while creating the required regulations to advance the real estate sector in Dubai.

How to get a residency visa in Dubai?

You need a sponsor in Dubai in order to invest or purchase property there. Then, at one of the authorized typing locations of the General Directorate of Residency and Foreigners Affairs (GDRFA) in Dubai or an Amer center, your sponsor must submit an application for your entry permission and resident visa.