Buyers Guide: 10 steps to buying your property

Establish a budget for your new home or investment, factoring in associated costs such as a 2% agency commission fee and a 4% transfer fee payable to the Dubai Land Department. 

For properties financed through a mortgage, a minimum deposit of 25% is mandatory, with interest rates typically ranging from 3.5-7.5%, subject to fluctuations tied to the US Federal Reserve's actions, as the UAE Dirham is pegged to the US dollar.

With myriad options available in Dubai, selecting a prime location is paramount for safeguarding your investment. Utilize our comprehensive area guides or consult with our Sales Specialists for personalized insights tailored to your lifestyle preferences.

Identify what suits your lifestyle best? A Villa or apartment or a penthouse?

Once you have defined the type of property you need to list the (must haves) essential features and amenities (e.g., bedroom, study, balcony, swimming pool) to refine your property search and streamline viewing appointments. The more specific you are the easier it becomes to finalise the right property.

Evaluate your eligibility for a mortgage with the assistance of a mortgage advisor, who can recommend suitable products and provide pre-approval, expediting your offer process. A pre approved mortgage will reduce the time frame considerably and will provide you with a clarity on your finances. 

Secure the services of a licensed and qualified broker from Bespoke Ventures to navigate contract negotiations and transaction procedures with proficiency.  We are well-versed in navigating every aspect of buying and selling properties, ensuring you make well-informed decisions every step of the way.

Upon finding your ideal property, submit an offer through your broker, who will endeavor to secure an agreement with the seller. We understand that navigating the complexities of the home buying process can be daunting, but with Bespoke Ventures by your side, we strive to get you the best deal. 

 Upon acceptance, formalise your offer with the seller through a legally binding Form B and Form F outlining purchase details and terms. Provide a copy of your passport to the broker, a 10% deposit to the property agency (never directly to the seller), and a Post-Dated Cheque (PDC) in the broker’s company name for commission. 

Thoroughly review the Sales Agreement, ensuring comprehension and agreement with all stipulations such as price, time frame, additional terms etc, in this binding document. 

  Facilitate the application for a No Objection Certificate (NOC) from the developer through your broker, verifying the property's financial clearance and freedom from outstanding charges or fees.  

Conclude the property transfer process at the Dubai Land Department, officially registering the sale and obtaining your new Title Deed. Be prepared to cover Land Department transfer fees (4% of the purchase price + AED 580 ) and an Trustee administration fee not exceeding AED 4,000 + VAT.  A Title Deed (for a ready property) or Oqood (for a off plan property) will be issued under your name upon transfer.