Guiding potential buyers through a legitimate process to purchase property in Dubai from the resale market

1. Educate yourself about feehold locations in Dubai

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

2. Get mortgage preapproval

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

3. Calculate your budget and all costs 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 the property price range you are looking for.

4. Choose RERA licensed real estate broker

Always work with an experienced and RERA-licensed real estate broker like Signature Habitat & get access to verified listed properties in the 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 the property price, they sign the form F from the Government App, which outlines the 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 a mortgage, he will complete the valuation and loan agreement formalities with the bank. If the seller has mortgage, then he will also fulfil 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 the transfer of the property.

10. Transfer of property at the trustee office (Dubai Land Department)

The buyer pays the full agreed amount to the 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.

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