When one has decided to buy a new property then it can be a great experience altogether and no matter which city one buys a new property it remains really very special. If it is a residential property then the sentiment is even stronger and when one is buying a home, it means there are a lot of things attached to it.
Those who stay in Dubai or work there and have plans to be there for a very long time, they think of buying a house in order to settle there. There are a lot of Dubai houses for sale these days and one can go for them but before buying them one has to be very clear about the concept and steps that are needed to buy a house in Dubai. One must remember that buying a property or buying a house is actually a matter of huge investment and hence one has to research thoroughly before taking the plunge.
Here are some major things to keep in mind if one is thinking of buying a house in Dubai:
- Primarily one has to make sure that the seller from whom one is buying the property and the one who is selling it off has a proper license to sell the property at all. It is very important to check and for that one needs to look upon the deeds that are made for the property settlement deal. One can check their reputation in the real estate market and can also check their passports as well if they need any kind of verification.
- The property that one zeroes down on has to go through a lot of background checking. One needs to check whether the property is free from all kinds of mortgage charges and tenancy rights. One can verify them very easily with the help of a no-objection certificate.
- If one is buying a property in Dubai and that too from a broker, then it is very necessary to check whether those brokers have a proper license or not. One can easily check this by seeing their registration with the Dubai land department. This is a must in Dubai because, without this registration, no brokers are termed to be authentic. They need to have a proper ID card for that. One can verify the background of a particular broker from the broker market.
- When one is buying a residential property in Dubai, they need to see whether the finances they have are covered or not. In the case of the expats, they can actually borrow at least 75 percent of the total value of the property. But yes, in order to approve that, the monthly income of the buyer will be checked and considered as well.
- When one is finalising the deal, they need to add all the necessary clauses in the MOU or the memorandum of understanding.
After considering all these factors one can finally close the deal of buying a residential property in Dubai.