Legal Steps to Follow to Buy Property in Dubai

Legal Steps to Follow to
Buy Property in Dubai

What steps do you need to go through when buying real estate in Dubai?

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The process of buying real estate in Dubai is carried out within the framework of certain legal steps and procedures. Following these steps correctly will ensure that the property purchase is completed easily and safely.

There are five main steps to follow when buying real estate in Dubai.

These are;

Choosing the most suitable real estate for your needs,
Paying the deposit and signing the sales contract,
Providing the necessary documents along with the No Objection Certificate (NOC),
Completing the transfer procedures at the Dubai Land
Registry Office (DLD) and paying the official purchase costs,
Finally, receiving the title deed document issued after the title deed transfer transaction is approved by the DLD.

Here are the details of the legal process to be followed when buying real estate in Dubai...

What Should Be the First Step When Buying Real Estate?

Before purchasing a property, investors usually contact a real estate consultant or directly the property owner. These initial meetings are important for buyers to clarify their needs and expectations.

Research and Communication Process: Gathering preliminary information about the properties they are considering purchasing and contacting real estate consultants makes it easier for buyers to find the home they are looking for.

First Meeting and Consulting Service: In the first meeting with real estate consultants, information is exchanged about needs and budget, thus deciding on the most suitable home for investors.

Why is it important to sign a service contract with a consultancy firm?

Using professional consultancy services during the property purchase process allows the process to be more effective and secure. Consultancy firms start the process by signing service contracts with buyers.

Service Contract: A detailed contract is prepared for real estate consultancy services with the consultancy firm contacted. This contract includes information on the scope of the service, fees and the consultant's obligations, which helps the buyer feel secure.

Legal Representation: Investors can give power of attorney to consultancy firms to conduct their legal transactions through lawyers. This saves time and money.

What Should the Content and Details of the Sales Contract Be?

One of the most important stages of property purchases in Dubai is the signing of the Sales Purchase Agreement (SPA). This agreement details all the terms and conditions between the buyer and seller.

It is very important for both sellers and buyers that the sales agreement is legally sound and clear, and that it accurately reflects the terms of the property sale. Having a well-prepared sales agreement in Dubai's dynamic real estate market also provides assurance in terms of protecting the interests of all parties.

The contract should include the description of the property, the sales price, the payment plan, the delivery date, and the rights and obligations of the parties. The contract should also specify the prerequisites and payments required for the reservation of the property.

Working with a specialist consultancy firm ensures that your sales contract;

complies with all local real estate laws and regulations in the city, including the Dubai Land Department (DLD) and Real Estate Regulatory Authority (RERA),

covers all aspects of the sale in detail, including the terms and conditions, such as the agreement, property description, sales price, payment terms, and transfer date.

How Much is the Reservation Fee to Pay When Buying a Property?

A reservation fee is required from the buyer to reserve the property. This fee is usually calculated as a percentage of the sales price and ensures that the property is held in the buyer's name.

Reservation Fee: The buyer pays a reservation fee, usually between 5% and 10% of the sales price of the property.

Reservation Confirmation: Once the reservation fee is paid, an official confirmation is given that the property has been reserved for the buyer.

What is NOC and Why is it Necessary?

A No Objection Certificate (NOC) is an official document that shows that there are no legal obstacles to the sale of a property. This document confirms that the property owner is debt-free and that there is no problem in transferring the property. Without this document, the property cannot be transferred.

What are the documents required for applying for a NOC?

Obtaining an NOC in the United Arab Emirates can be made an easy process with the right approach and preparation. The NOC application is made by the developer or manager of the property and requires certain documents.

In order to apply for a NOC; title deed, identity documents, property owner information and various forms must be provided. These forms may vary depending on the purpose for which you need the NOC and who you are obtaining it from. Therefore, it is recommended that you check all the details before applying for a NOC.

The processing time may vary but the application usually takes a few business days to complete.

What is DLD and What Does It Do?

Dubai Land Department (DLD) is the official institution that manages the registration and transfer of properties. DLD protects the rights of property owners and regulates property transfer transactions.

DLD, which provides transparency and efficiency in real estate transactions, also offers a wide range of services including property registration, granting real estate permits and rental management.

The title deed contains detailed information such as basic details about the property itself and the property owner, type of ownership, number of properties acquired, real estate qualities, plot number, descriptive location information and building number.

DLD contributes to transparency by keeping clear and accessible records of all real estate transactions. This transparency is crucial for the confidence of investors and the integrity of the real estate market. In short, DLD is an important government institution that oversees all aspects of real estate in Dubai.

Property Transfer Procedures

Property transfer procedures are carried out in accordance with the procedures determined by DLD. These procedures are completed with certain fees and taxes. Transfer procedures are carried out at DLD offices or authorized registration centers.

In this step, the buyer must make an appointment with DLD to finalize the title deed transfer. Official purchase expenses such as registration fees are paid at this stage. Once the entire process is completed, the compiled documents are delivered to the Dubai Land Registry.

After the property transfer procedure is approved by DLD, the issued title deed will be sent directly to the address specified by the new property owner. The title deed is prepared within 30 days and a temporary title deed is given to the buyer, declaring that he/she is the owner of the property until the document is prepared.

Procedures are completed by approving the sales contract, submitting the NOC and making the necessary payments. After the documents are verified by DLD, the transfer procedures are completed and the ownership rights are transferred from the seller to the buyer.

Complete the Property Transfer Quickly and Safely with Tekce Visa!

The property transfer process in Dubai is an easy process that can be completed very quickly if followed correctly. Since the completion of legal transactions without any errors is of great importance for the successful completion of the process, it is recommended that these legal processes be carried out under the guidance of an expert.

As Tekce Visa, we are with you with our expert lawyer staff in every process you need to follow when buying real estate in Dubai, and we provide you with all the information and support you need.

Although buying property in the city may seem like a confusing process, we will enable you to complete the process easily and without errors with the professional support we will provide.

You can get detailed information by browsing our content or contact us for more.