The administrative, financial and legal steps to purchasing a property can vary wildly from country to country, and even state to state.
Our handy 10-step buyer’s guide is designed to walk you through the process to make moving into your new home as painless as possible.
Set a budget
The first and most important thing to do is set a budget. If you are a cash buyer, you also need to ensure that the funds are UAE-accessible when the time comes to transfer.
Get a mortgage
If you need a mortgage then having a reputable mortgage advisor on your side is a must. They can arrange bank pre-approval, which will dictate your spend. Don’t forget, a minimum 20% deposit is required for mortgage approval.
Find a RERA qualified broker
Once you’ve set your budget, find a trustworthy RERA-qualified broker (ask to see customer testimonials as well) who can find your dream home or investment property. You will need to sign a Form B contract with your broker to formalise offer negotiation representation.
Make an offer
Get mortgage pre-approval and have your 10% unit deposit ready, so you can fast-track negotiations once you’ve found the perfect property and are ready to make an offer.
Pay the deposit
Once both parties are agreed on price, they will enter into a legally binding Memorandum of Understanding (MoU), which RERA calls Form F. The MoU must include full details of the contract you are entering into (such as rent paid or service charges due) as well as the agreed length of time until formal transfer. This is done via the Dubai Brokers App and you will also need to hand over a current dated cheque, made out to the seller for 10% of the total unit price. A post-dated commission cheque made out to the brokerage you are using is also required at this stage.
Hire a conveyancer
Professional conveyancing services are usually required to assist with the sales process. A good conveyancer will hold your hand every step of the way.
Obtain the NOC
Prior to the purchase, the seller will need to obtain No Objection Certificate (NOC) from the developer that built the property. This is your assurance that the property is free from any outstanding service charges.
Block the property
If there is already a mortgage on the property you are purchasing, you will need to go through a ‘blocking’ process. The seller is obligated to obtain a liability letter from their bank, after which you will visit the Dubai Land Department (DLD) to ‘block’ the property. This is done through four cheques: one in the name of the seller’s bank for the outstanding mortgage; one in the name of the seller for the remainder of the purchase price; one in the name of DLD to cover the 4% transfer fee; and a final manager’s cheque* made out to the agency. *A manager’s cheque is a secure payment order (cheque) issued by the bank to an individual who has purchased said cheque.
Transfer the property
On property transfer day, you will meet at the broker’s office, along with your conveyancer and the seller. Property purchases can only be made in cash or by manager’s cheques, so don’t forget to have these ready. You will also need the 4% transfer fees cheque for DLD. Once the transfer is completed and the sale is DLD registered, you will receive your new title deed and property keys/access cards.
Congratulations and final steps
Congratulations, you are now a homeowner! One final task is to make sure all utilities are registered under your name.
If you’ve decided that its time to sell, then we recommend you get your to-do list in order before you begin.
Our handy guide to selling covers all the bases, from getting a realistic valuation and dressing your property for viewings, through to hiring the right professionals to get your sale completed.
Call in the experts
We’re sure you’re itching to know what the current value of your property is, so the first step is to speak to a local market expert. This should always be a face-to-face meeting at the property so they can easily identify any unique features, look at recent and comparable sales in the same community or area, and take current market conditions into consideration.
Choose the right brokerage
Do your market research, talk to friends, check online reviews and ‘interview’ different brokers to find the one that’s right for you. You want a brokerage with a strong local presence and wider market appeal, which will ensure your property is marketed to a broad base of potential buyers.
Go exclusive
Listing your property with a sole agent comes with certain benefits. It incentivises the broker, and they'll be more motivated to invest extra time and marketing know-how to attract a buyer. From your point of view, dealing with one trusted broker is far easier than having multiple agents. Over-exposure through different brokers can also potentially put prospective buyers off and attract lowball offers.
Be camera-ready
You never get a second chance to make a first impression. Your broker should advise you on steps to make your property stand out from other homes when it comes to a photoshoot and viewings. A fresh coat of paint, some de-cluttering and ‘window dressing’ will help make a positive impression. This extends to the exterior and garden, the first thing a prospective buyer will see.
Get the NOC
While the majority of fees are paid by the buyer, sellers should expect to pay for a No Objection Certificate (NOC), which is obtained from the developer that built the property. You also need to factor in commission of up to 2%, payable to your broker.
Block the property
Sellers who have a mortgage on their property will need to go through a 'blocking' process whereby a liability letter is requested from the bank. This will be subject to certain costs and fees that either the buyer or seller needs to settle in full to proceed.
Hire a conveyancer
Once you have finalised the agreement, the next step is to hire professional conveyancing services to assist with the finer details of the sales process. A good conveyancer will hold your hand every step of the way.
For new residents, and even seasoned renters, navigating the rental process is often a muddle of confusion and mixed messages.
We’ve stripped back the information overwhelm to create a step-by-step guide to make your renting experience straightforward.
Set a budget
Setting a budget is critical when you are a first-time renter or looking to swap apartment living for a villa lifestyle. Your monthly rent payments need to be affordable. Make sure to factor in monthly running costs such as water, electricity, internet and service charges. You should also set aside funds to cover your moving costs, including a deposit, upfront rent payment, utility connection costs, removals services and agent commission.
Connect with an expert
Finding a reputable real estate broker takes a whole load of stress off your shoulders, especially in a competitive rental market. A great broker will keep you updated on new and upcoming listings that meet your criteria and is your intermediary regarding lease negotiations. Ensure they are fully RERA qualified and have in-depth knowledge of the areas you are looking at. Your broker should also be there for every viewing and follow up on any maintenance issues you may have spotted, which need to be sorted out before you move in.
Secure the property
You've found the perfect property and have made an offer. The next step is to provide scans of your Emirates ID and residency visa, along with three cheques: one for the deposit, one for the first rental payment, and one for the broker's commission. The first two cheques should be in the name of the landlord and the third in the name of your broker's company. Once you've agreed on the terms and conditions of the lease, your broker will draw up an agreement under the Ejari contract system. Any points agreed with the landlord not included in the contract cannot be enforced at a later date. After both parties have signed and the cheques have cleared, you can move in.
Register your Ejari
After signing the tenancy agreement, you must register the tenancy with Ejari. Normally, the tenant does this, but if your property is managed by Property Concierge, our property management team will take care of it for you. You can register online at dubailand.gov.ae, where you need to upload certain documents and pay a fee. Alternatively, you can visit one of the Ejari centres dotted around the city to complete the process in person. To register Ejari, you will need a copy of your tenancy contract, a copy of your landlord's ID and your passport copy/visa details.
Connect your utilities
Your Dubai Electricity and Water Authority (DEWA) connection is linked to the Ejari system, so you can't connect the supply until your Ejari is registered. Activating your account can be done online (dewa.gov.ae) or at one of the self-service kiosks at any DEWA Customer Happiness Centre. You will need your Ejari number, tenancy contract, Emirates ID and passport copy, your DEWA number (if an existing customer), and nine-digit premises number (which is located on a mounted wall plate next to your front door). A refundable security deposit of AED 4000 for a villa and AED 2000 for an apartment also applies.
For new residents, and even seasoned renters, navigating the rental process is often a muddle of confusion and mixed messages.
We’ve stripped back the information overwhelm to create a step-by-step guide to make your renting experience straightforward.
Set a budget
Setting a budget is critical when you are a first-time renter or looking to swap apartment living for a villa lifestyle. Your monthly rent payments need to be affordable. Make sure to factor in monthly running costs such as water, electricity, internet and service charges. You should also set aside funds to cover your moving costs, including a deposit, upfront rent payment, utility connection costs, removals services and agent commission.
Connect with an expert
Finding a reputable real estate broker takes a whole load of stress off your shoulders, especially in a competitive rental market. A great broker will keep you updated on new and upcoming listings that meet your criteria and is your intermediary regarding lease negotiations. Ensure they are fully RERA qualified and have in-depth knowledge of the areas you are looking at. Your broker should also be there for every viewing and follow up on any maintenance issues you may have spotted, which need to be sorted out before you move in.
Secure the property
You've found the perfect property and have made an offer. The next step is to provide scans of your Emirates ID and residency visa, along with three cheques: one for the deposit, one for the first rental payment, and one for the broker's commission. The first two cheques should be in the name of the landlord and the third in the name of your broker's company. Once you've agreed on the terms and conditions of the lease, your broker will draw up an agreement under the Ejari contract system. Any points agreed with the landlord not included in the contract cannot be enforced at a later date. After both parties have signed and the cheques have cleared, you can move in.
Register your Ejari
After signing the tenancy agreement, you must register the tenancy with Ejari. Normally, the tenant does this, but if your property is managed by Property Concierge, our property management team will take care of it for you. You can register online at dubailand.gov.ae, where you need to upload certain documents and pay a fee. Alternatively, you can visit one of the Ejari centres dotted around the city to complete the process in person. To register Ejari, you will need a copy of your tenancy contract, a copy of your landlord's ID and your passport copy/visa details.
Connect your utilities
Your Dubai Electricity and Water Authority (DEWA) connection is linked to the Ejari system, so you can't connect the supply until your Ejari is registered. Activating your account can be done online (dewa.gov.ae) or at one of the self-service kiosks at any DEWA Customer Happiness Centre. You will need your Ejari number, tenancy contract, Emirates ID and passport copy, your DEWA number (if an existing customer), and nine-digit premises number (which is located on a mounted wall plate next to your front door). A refundable security deposit of AED 4000 for a villa and AED 2000 for an apartment also applies.
A service charge, also called a service fee, is a fee collected to pay for services related to a product or service being purchased. In other words, a service charge is an additional charge for the service provided with the purchase of a product or service.