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Buying Dubai Property

If you are looking to buy property in Dubai, it is imperative that you familiarize yourself with the buying process. It is a fairly simple process with a few variables that you will have to decide. For the rest, you can always just rely on our experts to take you through the entire process.

Before you start on the journey of finding the perfect home, it is important to know that you can buy a property from two types of sellers: a reseller or direct from the developer. Either of them can offer you a ready property or an off-plan property which is still under construction. The following process ensues when you begin your first step to finding the best property.

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Step 1: Browse Online

Today it is obvious that a  quick search online will help you test the waters and help you understand where you stand in terms of the areas and prices. Whilst setting a budget is usually what people tend to do, this will give you a better idea of the market and help you negotiate your terms better.

Step 2: Budgeting

The  next step to determine the best fit for you, is your budget. At this step, it is important to determine whether you will require financial aid or if you will pay cash. If in case you need a mortgage, we can help you get the best rates with our partner, Premier Property Finance.

Step 3: Choose An Agent

While buying a property in Dubai is an easy process,  it can be quite a hassle without the right agent to guide you through. Transparent, knowledgeable and set to make your life easier, our expert agents are well versed with the entire process.

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Step 4: Negotiate the Terms of the Offer

4.1: Buying from a Reseller:

When you buy from a reseller you can sometimes get a discount. Discount depends on whether the property was fairly priced in the first place and the motivation of the seller.

4.2: Buying from a Developer:

When you buy from a developer, you often get added value such as DLD and service charge fee waivers, as well as post-handover payment options.

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Step 5: Sign a Contract

5.1 Sign the MOU – with Reseller

The Memorandum of Understanding is an agreement between the reseller and the buyer about the terms  and conditions of the sale transaction.

5.2 Sign the SPA – with Developer

The Sales Purchase Agreement is an important document you sign with the developer that has all the agreed terms and conditions about the sale transaction.

Step 6: Proceed with Your Transaction

6.1 Get a Conveyancer if You Buy From a Reseller

A good conveyancer will help you out with everything at every step of the way. They help to expedite the sales progression process to transfer the title deed from the reseller to the buyer. At Provident, Prism is our conveyancing department that handles everything from sales progression, title deed transference to visa application advice as well.

6.2 Make the Payment  if You Buy From a Developer

For a direct from developer purchase, you have to pay the down payment to book the property.

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Step 7: Make the Final Payment & Get the Keys!

Once you’ve made the final payment, you can collect your keys. Congratulations! You are now a proud property owner. You can opt for our property management, snagging services as well as holiday home services to take care of your new property.

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