Buyers Guide
Determine Your Budget
Assess your financial capacity and include all relevant expenses in your calculations. Be mindful of extra costs, such as a 2% agency fee and a 4% transfer fee. If you intend to secure a mortgage, you’ll typically need at least 25% of the property's value as a down payment. Don’t overlook interest rates, which generally fall between 3-4% depending on the loan duration and the lender. Work closely with your agent to accurately determine and finalize your budget.
Get Pre-Approved for a Mortgage
If you’re financing your purchase, getting pre-approved by a bank is crucial. It confirms your budget and strengthens your buying position. Once approved, you’ll receive a letter or email from the bank specifying the loan amount, which is usually valid for 60 days.
Choose a Trusted Real Estate Agent
Select an experienced agent and company you can trust. They will help you understand your budget, needs, and preferences. The more detailed you are about your requirements early on, the quicker they can find the right property for you.
Start Viewing Properties
Your agent will guide you through communities and properties that align with your budget and preferences. Schedule viewings for multiple options until you find the perfect property.
Apply for your NOC (No Objection Certificate)
Your agent will guide you through communities and properties that align with your budget and preferences. Schedule viewings for multiple options until you find the perfect property.
Transfer Ownership
Once the NOC is issued, all parties will visit the Dubai Land Department (DLD) to complete the ownership transfer. The buyer must provide a manager’s cheque for the purchase price payable to the seller, along with cheques for the 4% transfer fee and an admin fee (up to AED 4,000). After completing the formalities, a new title deed will be issued in the buyer’s name. Any overpaid service charges will be settled between the buyer and seller pro-rata.