FAQ For Buyers
Being a trusted real estate agency in Dubai, we are responsible to perform the best service for our loyal and potential clients, so that they can make only wise decisions. We have summarized the most common questions from the clients to inform you.
If you are not aware how to buy property in Dubai, a real estate agent will be your personal assistant and share with you all necessary information about the deal.
The market of Dubai property differs from other countries, so that we highly recommend you to hire a trusted professional that will become your assistant in the world of property, especially if you don't know how to buy home in dubai. Below, we highlight the significant procedures for you:
· A buyer and a seller have to agree all the requirements and terms concerning a deal;
· Both sides sign the MOU and then it is necessary to pay 10% deposit.
· A buyer and a seller have to apply for a NOC (issued by the developer) and after that they are responsible to sell the property;
· As a buyer, do not forget to take an original passport;
How to Buy Real Estate in Dubai
Firstly, we recommend you to pay your attention for the traffic, because if your work or educational institution is far from the house. The distance can be a nightmare for you because of a large amount of cars and traffic jams. Secondly, location is significant and your choice should be based on the further goals, for example if you want to rent a flat, pay attention for Dubai Marina neighborhood, International City as well as the Greens.
Also, we put your attention for the different forms of ownerships such as freehold and leasehold which are popular in Dubai. So, before choosing a real estate object, it would be better to consult with an agent about all the details.
There are certain areas with the status of freehold areas which can be bought by different individuals from all over the world.
Despite the fact that the general laws and regulations are the same both for residents and expats, local citizens are allowed to purchase the property in leasehold areas as well. The government of Dubai has made some areas unavailable to purchase but you can lease them for a period of 10-99 years.
Can I Buy a Flat in Dubai?
We prepare for you the key steps to buy a flat:
· Define an amount of rooms, a condition of property, neighborhood and so on;
· Conduct a search in the available database;
· Find a real estate agent to assist you with a deal or contact a property developer directly;
· Be confident that you are eligible to buy a flat in Dubai, so that you should be allowed to live there and demonstrate a steady income;
· You need to pay the deposit or you can get a loan from a corresponding financial institution;
· Pay all the required taxes.
How to Buy a House in Dubai
Be zeady to pay 4% tax for land registry in Dubai and it should be covered on the day of the ownership transfer. However, it is not necessary to pay the tax for property and you also will not pay the tax by renting the property.