Documents required to buy a property in Dubai

What Are the Documents Required to Buy a Property in Dubai?

1. Original Title Deed.

A title deed is a legal document that certifies your ownership of the property after the purchase and your right to use it, mortgage it, sell it, or lease it. It offers unmistakable evidence of your ownership of the property. If you are the sole owner of the property, your name will appear on the Title Deed. The original Title Deed, however, will be kept by the bank until the whole loan amount is repaid if you purchase the property using a mortgage, and you will instead have a duplicate of it in your hands.

On a title deed in Dubai, the following details can be found:

• The property's kind, size, location, borders, and other details are described.
• The official seal of the Deeds Registry Office, together with the legal owner of the property's name and ID number, the most recent transfer date, issuance date, and purchase price should all be included.

2. Original NOC from Developer

A buyer must get a no-objection certificates (NOC) from a government agency or the former owner (if they're purchasing on the secondary market) in order to confirm that the property being sold is free of legal concerns. For off-plan buildings in the UAE that are still being built, a developer's NOC is often required as evidence of clear title to the property and that all utility bills have been paid. The NOC confirms that transfer of ownership is feasible and that there are no unpaid balances, indicating that the developer is not opposed to you buying the property from them.

Check out our comprehensive guide to buying property in Dubai.

3. Original Passport, Visa, Emirates ID (Seller and Buyer)

4. Signed form F (MOU)

The Memorandum of Understanding, or MOU, plays a crucial role in the process of buying property. This is a document outlining the terms and conditions for buying a property that is often prepared by the real estate agent and is signed by both the buyer and seller.

The MOU, also known as Form F, is one of the RERA real estate forms that can be found on the Dubai Land Department's official website. This contract must be signed by both buyers and sellers in the presence of a witness (often the agent) at the Registration Trustee's office. The buyer must also give the Registration Trustee a 10% security deposit, which will be returned when the property transfer is finished.

Fees to Be Paid When Buying a Property in Dubai

Land Department Fees

• The transfer fee is normally paid to the Dubai Land Department at the time of property transfer and equals 4% of the purchase price of the property.
• The bank may impose a No Objection Certificate (NOC) fee if the buyer is obtaining a mortgage from it in order to transfer the property.
• There will be a charge for registering the mortgage with the Dubai Land Department if the buyer is getting a mortgage.

Registration Trustee Fees: Cash Only

An off-plan property purchase requires paying a registration trustee fee. The registration trustee charge, which is a modest portion of the property's worth, is normally paid in cash. The off-plan property registration process with the Dubai Land Department is supervised by the registration trustee.

Broker Fees

There will be broker costs if you hire a real estate agent or firm to help with the home transaction. The typical broker commission in Dubai is from 2% to 3% of the buying price of the property.

Read more about the hidden fees of buying property in Dubai to be aware of all the costs involved.

Book Your Free Consultation

The real estate market in Dubai is complex and not everyone is equipped with the required knowledge and information. This kind of market involves a certain level of risk but is also profitable. However, it is recommended to not work alone. Imtilak Global is a trusted agent that could save you the struggle of buying property, contact us today and get insights about Dubai markets from our expert team for free.

Edited by Imtilak Global ©

Do you like this topic? You can share it with your friends now!