Buyer's Guide

Purchasing a property is one of the biggest financial decisions you will make. Whether this is your first purchase, or you are an experienced buyer, this decision must be thought about and made carefully.

• Are you tired of paying rent?
• Have you decided to pay your own mortgage and not your landlord’s?
• Have you outgrown your current home?
• Are you looking for an investment portfolio?
• Are you looking for a rental property?
• Would you prefer to live in a different area?
• Do you want to shorten your commute?

Having a clear sense of your reasons for buying will help you choose the right property.

Prior to starting your property search it’s a good idea to make some financial arrangements.

• Ensure you have a sufficient down payment
• Contact a mortgage broker if you need finance

You will need the below documents to secure financing for your property. A typical file should contain:

• Bank statements for 6 months
• Investments
• Credit cards
• Auto loans
• Salary certificate
• Life insurance

When you decide to purchase a property, it requires making many important financial decisions, understanding complex issues and completing a lot of paperwork. It helps to have an expert on hand when undertaking such a purchase. We can guide you through this process from start to finish.

These are just some of the factors to consider when choosing your real estate broker:

• Look for a full-time agent – one who has experience completing transactions similar to yours.
• Ask how much time they will dedicate to your search and if they are available at night and on weekends for viewings.
• Ensure they are RERA regulated – all agents in Dubai must pass a RERA exam in order to legally work as an agent.
• Ask for a list of properties they have sold or look for some online testimonials.
• Choose an agent who listens to your needs and takes them on board. Pick an agent who you feel comfortable working with.

Take a drive around your shortlisted areas. Get to know the neighborhoods. Take a good look around and make sure you get a feel for the area and the amenities available.

Select a few areas and then some properties that may interest you the most, then have your chosen real estate agent make appointments to visit them. Even if the properties are listed with another agency a good agent will be willing to work with other brokers on your behalf.

When you have picked out the property you want to purchase, your real estate agent will help you make an offer that the seller will accept. A good agent will advise you of all potential costs and expenses associated with the purchase.

Once the offer is accepted generally a 10% deposit is paid and an effective agreement needs to be put in place between you as the potential buyer and the seller. The agreements are all done via a standard Form F document as put in place by the Dubai Land Department, however there may be an additional addendum to be signed which contains additional terms and conditions in addition to the standard Form F.

Prior to completion you will need to obtain a NOC from the master developer of the property in order for you to legally transfer the property to your name. Once this is received and if everything is in order a property transfer can take place at an appointed Dubai Land Department Registration Trustee Office.

If you have managed to come this far, then this means that congratulations are in order. However, do not forget to tie up the below loose ends:
Utilities: Ensure all bills have been cleared, cancelled or transferred into your i.e. DEWA, Cooling, Gas etc
Property inspection: If the property is vacant do a thorough walk through and snag of the unit and rectify any maintenance issues if necessary.