Over the years, buying property for sale in Dubai has become more convenient, especially for foreign nationals who seek to acquire commercial or residential properties. The straightforward process and benefits offered to investors only continue to encourage local and attract foreign investors.
If you’re looking to buy a freehold property in Dubai, it may be beneficial to hire professionals who can help you with the process. This is helpful, especially if you’re not familiar with the legal processes and policies in Dubai. This way, you’ll get everything done more efficiently.
Here’s the process for buying a property in Dubai:
Whether you’re buying a luxury property Dubai or any type of property, the first step of the process is to negotiate and outline the terms/conditions of the sale with the seller. In case there are uncertainties, you may consult a real estate agent or your lawyer for clarity.
Keep in mind that transparency is crucial with these kinds of transactions and all parties involved must be on the same page for the sale to proceed.
Once the contract is ready, the buyer and seller must sign the sale agreement or Memorandum of Understanding (Form F) before a witness at the Registration Trustee’s office.
Once an agreement has been signed for buying flats for sale in Dubai or any property in the emirates, you (the buyer) and the seller must set an appointment to meet at the developer’s office.
In this meeting, you are expected to apply for and pay for a letter of permission or No Objection Certificate (NOC) to transfer ownership.
If the property does not have an outstanding service bill, you will be issued a NOC.
For the transfer to be legal, you (the buyer) and the seller must meet at the office of the Dubai Land Department or DLD.
This final step in the process of buying an apartment for sale in Business Bay or any residential property is where you will complete the formalities. Once done, a new title deed will be issued in your name, and you will be the official owner of the property.
If you need legal advice in acquiring a property in Dubai, you may get in touch with one of our experts at Rocky Real Estate whose knowledge and experience can help you obtain the best return on your real estate investment.
We can also help you find the ideal property that is suitable to your lifestyle or business requirements.