Legal Steps for Buying Property in Dubai
- Contract between Buyer and Seller
When purchasing property in Dubai and the UAE, there’s two choices: pay cash or apply mortgage. This will be finished without assistance of real estate agent or lawyer. Remaining details should be handled by reputable Dubai real estate agency or legal compliance firm. Having agreement on both you and seller for terms of sale, make sure there aren’t any disagreements about selling price, payment mode, or any other important factors.
- Signing the Agreement
Referred as Memorandum of Understanding (MOU). One of RERA real estate forms in Dubai. Form/Contract F is available on the Dubai Land Department’s official website. The real estate agent usually prepare contract for you.
- No Objection Certificate for Application
After that, seller and the real estate agent must meet at developer’s office (for example, Dubai Properties, Emaar or other property developers in Dubai).
This meeting applied for and pay for No Objection Certificate (NOC) in order to transfer ownership. Only if there are no outstanding service charges on the property will the developer issue the NOC.
- Effecting Ownership transfer with DLD
After obtaining NOC, the final legal step is to meet with seller at Dubai Land Department office to finalize transfer.
Here’s the following document needed:
-Manager’s cheque for property price payable to seller
-Original Identification documents of buyer and seller (Emirates ID, passport and Visa)
-Original NOC issued by developer
-Signed Contract (MOU)