- Decide on a budget, considering all the relevant costs and fees, such as a 25% deposit. Keep an eye on the exchange rates too, as these could fluctuate if the US Federal Reserve makes any changes that could impact the value of the UAE Dirham.
- Check your mortgage eligibility with a mortgage advisor, who can also recommend suitable mortgage products and provide pre-approval to help you secure your dream home quickly.
- Find a qualified broker who can liaise with key parties on your behalf and represent you during negotiations.
- Put in your offer through your broker and make sure to have it confirmed and secured through a Memorandum of Understanding (MOU), an important document that covers the details and terms of the purchase.
- Thoroughly review the Sales Agreement and make sure you fully understand and agree with all the terms and conditions of this legally binding document.
- Your broker will apply for the No Objection Certificate (NOC) from the developer to ensure the property has been fully paid for and is free from any outstanding charges or maintenance fees. This can take up to seven working days. Once you complete the transfer of property ownership and register the sale with the Dubai Land Department, you will receive your new Title Deed and are ready to move into your new home!