Find Out If You're Ready to Buy that Property You Want
Planning to buy a property? Make sure you're on the right track, ask yourself the following:
If not, ask the seller to accompany you or give you a Power of Attorney to inquire about the property and confirm all legal details.
2. Have I inspected the property and drafted the Sale and Purchase Agreement?
Make sure to check if the property meets your expectations before signing any agreement. Note that it's possible for you to add your own terms on the Sale Contract, provided that it doesn't conflict with the standard structure of Form F.
3. Do I have the documents needed by DLD to start the process of issuing a new title deed?
An NOC is usually requested from the Developer of the project to ensure that the seller has no outstanding fees left. Once all documents from you and the seller are complete, DLD can start processing the issuance of a new title deed.
Keep in mind:
1. The whole process cannot start without the presence of the seller or their representative.
2. Duly attested corporate documents, a power of attorney, or a partners' resolution is required for representatives of real estate agencies, buyers, and sellers.
3. All documents are required to be translated into Arabic. This can be done in the trustee office or directly in the DLD office.
4. All the transactions must be registered within 60 days from the date of signature, or else they will be subjected to a fine, in addition to registration fees, for late registration.
5. DLD does not allow foreign companies to own real estate directly. They must first establish a subsidiary company in free zone areas.
7. Seek the DLD approval first for the transaction structure and buyer documentation to ensure they are registered and incorporated in a foreign jurisdiction.
8. DLD recommends that you do not deal with real estate brokers who are not registered with RERA.
For a more detailed, step-by-step, and clear explanation of this process, we are able to help you anytime: