Offplan Property Buying Guide in Dubai

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.

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.

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.

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.

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.

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.