FAQ’S

Mortgages are available to UAE residents and non-residents. Many banks offer mortgages to non-UAE residents as long as they reside in a particular country where it is approved by the UAE bank. These mortgages come with a host of interesting features which range from high loan amounts to competitive interest rates and attractive payment tenures. Some banks will also allow investors to take mortgage for multiple properties, subject to availability.

70% Mortgage can we availed for a ready property. You need to arrange 30% down payment.

50% Mortgage can be availed for a offplan property whether you are UAE Resident or an International Buyer. Please note the Initial 50% need to be paid and ONLY after that you can apply for only mortgage. Many people make this mistake and think paying initial deposit they can take 50% mortgage which lands them in trouble. YOU NEED TO FIRST PAY 50% and THEN ONLY YOU CAN APPLY FOR THE REMAINING 50% IN AN OFF PLAN PROPERTY PURCHASE.

Islamic finance is also available. Profit rates are around 4% per annum for any real estate finance.

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Title Deed is the most important document when it comes to your Dubai property. It is your sole and conclusive proof of legal ownership and is required if you wish to rent or sell your property in Dubai. Registering with the Dubai Land Department and obtaining your Title Deed is therefore a must.

When the property is off plan or during construction an Oqood certificate is issued by RERA under buyer’s name that ensures the property is registered under his name. In order to register Oqood the buyer has to pay at least 10% payment to the developer before he / she can register Oqood with RERA. As per the law, the registration of Oqood is mandatory for every buyer and fees of 4% of the selling price along with some administration charges are charged to the buyer by the Land’s department.

On handover of property the oqood automatically converts to a title deed. Please note that only small admin fee needs to be paid at that time and no other charges should be paid for the conversion.

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Every property developer needs to register the project in an escrow account and all payments made by the buyer should be to the escrow account only. Real Estate Regulatory Agency (RERA) has control of the escrow account and pays the contractor upon verification of completion of the scheduled tasks as per signed contracts

The escrow account law was introduced in Dubai in 2007. It was the much-awaited moment for the government to establish the emirate as a reliable real estate market. The escrow law is monitored by RERA, which is a governing body operating under the Dubai Land Development (DLD). The RERA and escrow laws work closely to make it conducive for people to trade property in Dubai.

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Buying an off-plan property means you commit to purchasing a property either before or during the construction phase.
IT HAS SIGNIFICANT BENEFITS:
YOU CAN PLAN AND SAVE MONEY
It allows buyers to pick the very best apartments in a specific development. In return, there’s a high chance of gaining the maximum return on their investment. You start of paying a small deposit and your future payments are ideally based on a construction linked payment plan. You get to pay a major chunk on handover and nowadays a lot of developers offer post-handover payment plan. This allows you to plan and oganise you cash outflow accordingly and also with post-handover payment plan you dont need to take any mortgage saving you a lot of money.
SELL BEFORE THE COMPLETION DATE
It allows investors to get a purchase at the earliest and lowest possible price and buyers to pick the very best apartments in a specific development. In return, there’s a high chance of gaining the maximum return on their investment. On making a specific percentage of total payment you are allowed to resell and make a good profit percentage on the total amount paid during the construction process.
GET LOWER UP FRONT COSTS
Off plan property payment plans can and do vary from different types of developers in Dubai. Some of the developers only require a 10% down payment and the rest linked to construction.
It is very important to note that you should have the required furture payments organised as per the payment plan so you dont default on the property.

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It is important to understand the difference between freehold and leasehold property in Dubai. Freehold properties are available in designated areas, as defined by the government, where any nationality can buy. Leasehold properties are available in a specific area where you can lease the property for a period of more than 10 years up to 99 years, they can’t be purchased outright.

GCC National and Locals get a freehold title deed, even when they buy in designated leasehold area.

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