Buyer's Guide
Eligibility
A individual of Any national can purchase a property in freehold area of Dubai real Estate Market
Documents Required
- By an individual:
- Passports for all Buyers
- Signed Buyer Agreement known as Form B
- By a company:
- Certificate of Incorporation
- Memorandum and Articles of Association
- Board Resolution
- Power of Attorney
- Signed Buyer Agreement known as Form B
- By an overseas company:
- All of the above must be attested by the UAE Embassy
- Signed Buyer Agreement known as Form B
Acquire Visa
Freehold is available on the majority of developments. However, there are leasehold properties in Dubai with tenure from 30-99 years should that be of interest to any party.
In general, the Dubai Government issues residence visas to new property owners. These will be subject to the current immigration rules and regulations and need to be renewed every 6 months. Under the current regulations, the property purchased should be above 1 million AED to qualify for a residence visa
To register the property in the new property owner’s name, you are required to pay a transfer fee to either the Developer (Under Construction) or the Dubai Lands Department (Completed) depending on the status of the property. If you’re purchasing with a mortgage, then there is also a payment of 0.25% of the value of the loan to be paid to either the Developer or Dubai Lands Department.
In addition, should the property you’re buying be complete and already in use, there is a service maintenance fee that must be paid to the seller on a pro rata basis. Helping you through the process of buying from A to Z, we charge fees of 2% of the purchase price to the buyer. This is an agency fee which is payable upon the time of purchasing a property.
Service Charges
Service Charges are levied in order to maintain the various common areas and facilities of the community or the building.
Generally, it is to ensure that the properties are properly managed and administered. In many of the new property developments and residential buildings throughout Dubai, service charges are levied on the owners by the co-owners associations, and collected by a manager appointed on behalf of the associations.
In a lease situation, these charges will generally be paid to the landlord. Services charges throughout Dubai vary widely, depending on the area and sophistication of the property in question. Larger community developments also charge their property owners an annual community charge, which is normally paid to the master developer of the project.
How Do I Buy a Property?
SAMS Real Estate will find the property that’s suited to both your needs and wants
Once you have signed this Agent Agreement, the search for your desired and specific property shall begin. Upon finding the property you’re looking for and a price is agreed on with the seller, a deposit amount of 10% of the agreed price is required at the contract-signing stage of the Memorandum of Understanding (MOU) also known as Sale & Purchase Agreement (SPA).
This deposit is held by us in trust. Once the MOU/SPA has been signed by both you and the seller, we will introduce you to the Conveyancing Partners who will be responsible in aiding you through the process.
The completion of the procedures will be finalized at either the Developers or Dubai Land Department office. The transfer procedures and requirements are different depending on the status of the property based on whether it is under construction or completed. Our Conveyancing Partner will provide all the guidelines and assistance to ensure the property is transferred into your name as smooth and hassle-free as possible.