Guiding potential buyers on legitimate process to purchase property in Dubai from resale market

1. Educate yourself about feehold locations in Dubai

   Understand and educate yourself about different communities and locations in Dubai which are designated as freehold locations where any expat can purchase the property depending on your budget, objectives (Investment, rental ROI, sale and make profit or end-user) and other necessities like proximities from transportation, schools, clinics etc. Our senior real estate advisor at Signatutehabitat can guide you through this education.

2. Get mortgage preapproval

   Obtaining preapproval for mortgage will confirm your budget. UAE banks are currently giving mortgage only to ready to move in properties. UAE banks are giving mortgage to resident as well as non residents.

3. Calculate your budget and all cost involved

   Include DLD charges (4% of property value as registration cost), agency brokerage fees (2% of property value) and trustee fees (AED 4000) etc plus property price range you looking for.

4. Choose RERA licensed real estate broker

   Always work with experienced and RERA licensed real estate broker like Signatutehabitat & get access to verified listed properties in chosen location / community. It will also ensure the correct process to be followed up till transfer of the property title.

5. View the properties

   Visit multiple locations / communities and compare different layouts, views, prices and suitability with your objectives. Our experienced advisor from Signaturehabitat can assist you during this process.

6. Make an offer

   Once you like the property, make a formal offer. Generally written offer with 10% deposit cheque boosts the authenticity of offer. Attach your passport copy / Emirates ID copy along with the offer.

7. Sign the memorandum of understanding (MOU)

   Once the seller and buyer agree on property price, sign the form F from Government App which outlines terms of the deal and price. It is an online process. The deposit cheque generally remains in the custody of the buyer’s agent.

8. Complete the mortgage formalities with the bank if any

   If the buyer is going with mortgage, he will complete valuation and loan agreement formalities with the bank. If the seller has mortgage then he will also fulfill also the mortgage closing formalities with the bank.

9. NOC to be obtained from the developer/master developer

   The seller has to obtain NOC from the developer by clearing all financial dues like maintenance charges etc. NOC is required before transfer of the property.

10. Transfer of property at trustee office (Dubai land department)

    The buyer pays full agreed amount to seller by managers’ cheque along with all charges like DLD transfer fees, broker fees, trustee fees etc. Both the buyer and seller will sign and the title of property will be transferred to the buyer. If the property is rented, the seller will reimburse the pro rata rent to the buyer at the same time.

Signaturehabitat assists its clients from start to finish efficiently completing the transaction in a legitimate way as per RERA laws.