Buying a developer phase or new home

1.Buyer information collection.

Passport copy

Home address

Email address

2.Reservation. The reservation amount is about 10% of the selling price, subject to the final request of the developer.

The following six payment methods are usually provided.

Cheque, only from domestic banks in the UAE, in Dirham.

Credit card, credit card authorization form required, signed version.

Cash.

Online payment, done through the payment link interface generated by the developer.

Bank transfer, with proof of wire transfer as required.

Third party payment, requiring a third party authorization form, signed version, followed by payment by the third party.

Signing OTP

3. Down payment.

Make down payment according to the developer's payment plan, payment method is the same as the appointment.

Pay 4% of DLD registration fee based on the house price

Pay DLD administration fee, usually around Dhs3,000, in cash or by credit card.

4. Sign the sale and purchase agreement.

After the above payment is credited to the developer's custody account, the buyer and the developer sign the Sales and Purchase Agreement together.

5. Register the property

The developer's title representative will register your title with the Dubai Land Department.

You will receive the legal certificate and voucher for the title of the Oqood phase property.

The title deed of the Oqood phase will be converted into a real estate ownership certificate upon delivery.

When the project is completed and delivered, a title transfer is required.

Prior to closing, the relevant payments are paid off according to the payment plan.

The developer invites you to inspect the property on site. If you have any dissatisfaction, please inform the developer to deal with it.

Buying a second-hand property

1. Reservation, 10% deposit cheque and a copy of your passport.

For cheque, only UAE domestic bank cheque in Dirham.

2. Seller and buyer sign the MOU.

The seller's agent prepares FormA.

Buyer's broker prepares FormB.

The buyer and seller sign FormF, which is a combined version of FormA and FormB.

3. Obtain NOC.

When the buyer's payment is ready, notify the seller to apply for NOC to the developer. The NOC is valid for 15 days and the title transfer transaction should be completed within the NOC validity period.

4. Make payment and complete the payment according to the MOU payment terms.

The payment methods are as follows.

Cash, only if the seller is in the UAE and personally involved in the transaction.

If the seller authorizes a third party to assist in the transaction, the third party's representative will only receive a check from the manager.

Manager's check, which requires an account with a bank and an application for processing.

Payment Items.

House payment.

Dubai Land Department 4% registration fee.

Dubai DLD transfer fee.

2% + 5% VAT second hand brokerage fee.

Property certificate fee.

5. Completion of the title transfer transaction.

The buyer holds the following documents and applies for the title deed to the Dubai Land Department.

Proof of payment

Identity document, UAE ID card or passport.

NOC approved by the developer

MOU.

Foreigners buying property in the UAE bank account opening process.

Account opening preparation materials

Original passport.

Copy of passport with UAE entry page stamp.

Bank statements from your country of origin or other country of residence for the last six months.

Resume.

Copy of real estate OTP or MOU.

Copy of utility bill showing proof of applicant's address.

Legal documents of the company showing the ownership certificate, only if the applicant owns any company in the UAE or other countries.

Company bank statements for the last three months, only if the applicant owns any company in the UAE or other countries.