How to Purchase a Flat from Reseller in Dubai
Buying a flat in Dubai is no doubt everyone’s dream as it is one among the well-developed and luxurious cities of the world. Considering the foreign investor’s great interest in mind, Dubai’s Government has recently introduced some amazingly flexible and smooth property buying procedures. The non-Dubai residents can now make this beautiful city as their second home by owning a freehold flat. Resale flats are usually offered by the private sellers/re-sellers across the city. Although you can buy a flat through Off-plan method, but the resale purchase has its own benefit as it provides you with an opportunity to practically inspect the property.
Instructions
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1
Find out your dream flat in Dubai
If you are over 21 years of age, start a search for your dream apartment in Dubai. Go online or consult the real estate agents in order to get an idea of the flats for sale in Dubai.
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2
Inspect the flats
The online images of the property for sale that looked attractive on your computer screen may not be so appealing when you personally visit it. Therefore, it is always better to visit the property
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3
Make an oral offer to the seller
Once you finalized the flat, make an oral offer to the seller in order to book the property.
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4
Draft a formal sales contract
Now ask your property advisor or agent to draft a formal sales contract, agreeing upon between the seller and purchaser. In the initial contact, the seller is supposed to assure the buyer that his or her flat is not weighed down by anything that goes against what has been stipulated.
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5
Pay the amount
You can pay the amount of flat at once or in the form of installments, as per contract.
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6
Get the keys of your new flat in Dubai
Once the payment plan is solidified, the deed is eventually transferred to you (the buyer of the flat). The legal representative on behalf of both parties of the contract will read the flat deed aloud and guarantee you understand the commitments you are taking on prior to you signing it.
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7
Pay for the applicable taxes
At this point you will pay all the charges, taxes and legal fees of the flat. As a buyer, you have to pay 2% to 5% amount to real estate agent as agent fees. In addition to that, you have to pay 1% to 2% transfer fee as well.
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8
Register the title at the Land Registry
At the end of the successful purchase of a flat in Dubai, make sure to register the title at the Dubai’s Land Registry. Provide the concerned department with the required documents. The registration usually takes a few months to process. Once you get the flat’s documents in hand after being processed and completed by the local land registry office, you will formally become a proprietor of a beautiful flat in Dubai. Congratulations!
