Below are Answers to some Common Questions by Home-Buyers. To get Answers to any other queries feel free to Get in Touch! We shall be happy to answer your questions over a cup of Coffee!
Dubai has designated areas categorized as FREEHOLD where foreigners can acquire property with perpetual Title. You do not have to be a resident of UAE. The Property will be under your 100% Ownership and can be freely used for your own living or Rented out to create an income stream. ZERO Personal Income Taxes means your rental income is free of any local tax.
Dubai Land Department charges a transfer fee equivalent to 4% of the Sale Price of the Property. The rate is very competitive when compared to global peers such as London, New York, Mumbai, et al
List Price: The list price is the asking price of the property; this is negotiable.
Sale Price – The sale price is what the owner will settle at.
Appraisal Value – The real estate agent is able to provide a comparative market analysis to give the buyer a sound idea of what is sold and at what rate, and what is available in the market for a comparable property. The list price is at the discretion of the Seller.
We assist our Clients to BUY / SELL / RENT properties accross all Freehold communities in Dubai. In addition we provide advisory services through our network for property refurbishments, mortgages, ets
To list your property with us, you need to fill in the information on the listing form which carries all relevant information of the property. and submit the following documents to advertise your property and Market it to Potential BUYERS / TENANTS. Without this information and the owner's authorization, a Broker cannot market the property.
Documents needed are:
-Proof of Ownership of property (copy of contract)
-Title Deed of the Property or Oqood
-POA – Power of Attorney, attested in Dubai Court – if the owner of the unit appoints someone to sign on their behalf
-Valid Passport copy
-Signed listing agreement
Brokers have a wealth of market experience. They work with multiple Developers all over Dubai and can enhance your perspective on the pros and cons of various Projects, even within the same Master Development.
The Broker can help you choose the best unit from the available inventory by studying the location, view and layout of the Property. All this comes at ZERO COST to you since even if you buy directly from the Developer, you pay the same price.
Additionally at the time of Handover, your Real Estate Agent can help you with the snagging process and completing formalities for connecting various Utilities and services.
It is recommended that you get the property inspected. However, in the case of freehold property, if the property is newly built, and it falls under the guarantee of the contractor for structural defects. Maintenance is guaranteed for up to 1 year of the development. It is then up to the owner to ensure that he/she has a preventive maintenance contract on the property.
Dpending on whether the Property is Self-occupied or Rented out, you can get quotes from internationally reputed insurers like RSA, AIG, etc to insure your home and contents. For REnted properties you can additionally add the Cover for "Loss of Rent" due to the Property getting damaged. Mortgaged properties compulsorily require Insurance, w.
Service Charges are levied by the Owner's Association for maintenance and upkeep of common areas. In an Apartment complex this includes lobbies, swimming pool, gym, security, lighting, cleaning, etc. In a Villa community the funds are for the maintenance of community landscaping, lighting, roads and upkeep of the Community Center.