Buyer's Guide

Whether this is your first property investment, or you have already made some investments the following may be really helpful for you.
 
Set a budget
 
Setting a budget is the most important thing to do when looking into a property investment. When buying a property cash, make sure you have the money available here in the UAE for the time of transfer.
 
Apply for a mortgage
 
In case you are not able or ready to buy the property cash, you have the option of applying for a mortgage. Therefor it is advise to consult a mortgage advisor and have them arrange the Pre Approval from Bank. This Pre Approval will tell you how much money you can spend and sets you a budget when looking into properties. Keep in mind, UAE banks require a minimum down payment in order to get the mortgage.
 
Meet one of our Professionals
 
A professional Real Estate Consultant is as important as setting a budget for your property. The broker will help and assist you with finding the ideal home for you. Specialized in the area you are looking to invest, the broker will make sure to find you the home you are looking for and negotiate the terms on your behalf.
 
Make an offer
 
Once you have found your perfect property, propose an offer for the unit and be ready to pay the booking deposit. Being quickly, will put you in a better position to negotiate the terms of your buy. When your offer is being proposed to the Seller, be ready to pay a deposit immediately to secure the price. The deposit is most probably going to be a 10 % Booking Deposit in the form of a post-dated Cheque.
 
Get the NOC
 
Once all legal documents have been signed, the Seller should apply for an NOC Letter of the Developer. This NOC confirms, that the property is free from any outstanding payments and is ready to be transferred to you.
 
Transfer the Property
 
You will meet your broker and the seller at the Municipality in order to get the transfer done. Keep in mind, property purchases can only be made in cash or with a managers cheque. Also there is a 4 % Municipality Fee (usually divided between the Buyer and the Seller). Once the transfer is done, you will receive your Title Deed. Congratulations to your new Home!