What extra upfront fees should I expect?

Budget for a 4% Dubai Land Department (DLD) transfer fee and a 2% agency fee. Finance buyers also need a 25% down payment.

What is Form F (MOU)?

It is the official, binding sales contract signed by the buyer and seller. A 10% deposit cheque is required upon signing to secure the deal.

How does a mortgage affect the timeline?

If the seller has a mortgage, it must be cleared before getting the NOC. If you are financing, the bank requires a property valuation, stretching the total process to 6–10 weeks.

Off-Plan Property Buying Guide in Dubai

01

Figure out what you can afford.

Remember for buyers there is a 2% agency fee and a 4% transfer fee to take in to account when it comes to any purchase. Are you planning to mortgage? Then you will most likely need at least 25% of the property as a down payment. You will also be paying interest on your loan which varies, but is around 3-4% depending on length of loan and bank. Make your calculations to set a budget – your agent can help you with this step.

Remember for buyers there is a 2% agency fee and a 4% transfer fee to take in to account when it comes to any purchase. Are you planning to mortgage? Then you will most likely need at least 25% of the property as a down payment. You will also be paying interest on your loan which varies, but is around 3-4% depending on length of loan and bank. Make your calculations to set a bu...

Remember for buyers there is a 2% agency fee and a 4% transfer fee to take in to account when it comes to any purchase. Are you planning to mortgage? Then you will most likely need at least 25% of the...

02

As a Finance Buyer, are you pre-approved?

Being pre-approved not only confirms your budget but it also puts you in a stronger buying position. First, a bank reviews your application, before issuing a letter or an email stating the approved loan amount, which is generally valid for 60 days.

Being pre-approved not only confirms your budget but it also puts you in a stronger buying position. First, a bank reviews your application, before issuing a letter or an email stating the approved lo...

03

Find a Real Estate agent and company that you trust.

Find an experienced agent to work with you to understand your full budget, wants and requirements. When working with industry experts, the more detail you go into at a preliminary stage, the less time it takes to find the right property. It is very important at this stage to give your agent the best understanding of what you are looking for.

Find an experienced agent to work with you to understand your full budget, wants and requirements. When working with industry experts, the more detail you go into at a preliminary stage, the less time...

04

Start viewing properties!

As a property consultant, your agent will highlight communities and properties that match your budget and requirements. Arrange appointments to view several options until you find what you are looking for.

As a property consultant, your agent will highlight communities and properties that match your budget and requirements. Arrange appointments to view several options until you find what you are looking...

05

Make an offer.

For the strongest chance of acceptance, we recommend putting your offer in writing, with a copy of a 10% deposit cheque, along with copies of the passport and Emirates ID of all parties who will be on the title deed.

For the strongest chance of acceptance, we recommend putting your offer in writing, with a copy of a 10% deposit cheque, along with copies of the passport and Emirates ID of all parties who will be on...

06

Once the offer is agreed sign MOU.

our agent will draft an MOU which stands for Memorandum of Understanding and is also known as a Form F. You will review the MOU and then both parties will sign the contracts along with handing over the 10% deposit cheque.

our agent will draft an MOU which stands for Memorandum of Understanding and is also known as a Form F. You will review the MOU and then both parties will sign the contracts along with handing over th...

07

The sales progression process.

If the buyer is purchasing with a mortgage then the bank’s involvement will be needed. A bank valuation on the property is required and the buyer will need to obtain the final offer letter from the lender, which secures the chance of a mortgage. If the seller has a mortgage on the property, the buyer is required to settle the seller’s mortgage in full prior to the No Objection Certificate (NOC) application. If this is the case, make sure that once both parties have signed the MOU, the seller requests a mortgage settlement statement from his/her bank as this can take up to 2 weeks. (This process can vary depending on bank, but we would factor in an average of 6-10 weeks)

If the buyer is purchasing with a mortgage then the bank’s involvement will be needed. A bank valuation on the property is required and the buyer will need to obtain the final offer letter from the lender, which secures the chance of a mortgage. If the seller has a mortgage on the property, the buyer is required to settle the seller’s mortgage in full prior to the No Objection ...

If the buyer is purchasing with a mortgage then the bank’s involvement will be needed. A bank valuation on the property is required and the buyer will need to obtain the final offer letter from the le...

Offplan Property Buying Guide in Dubai

Complete Step-by-Step Investor Guide

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