Your First Dubai Property: Buyer’s Checklist

Step 1: Secure Your Finances and Get Pre-Approved

Before you begin browsing listings, the first and most critical step is to get your finances in order. You must have a clear budget that accounts for all associated costs, not just the property's ticket price. These additional expenses typically include a 4% transfer fee for the Dubai Land Department (DLD) and a 2% agency fee, bringing total upfront costs to around 7-8% of the property's value.

If you plan to finance your purchase with a mortgage, obtaining pre-approval from a bank or mortgage lender is your top priority. This step is crucial as it defines your exact spending limit, giving you confidence and a realistic framework for your property search. For properties valued under AED 5 million, UAE banking regulations require a minimum down payment of 20%. Engaging a reputable mortgage advisor can streamline this process significantly.

Step 2: Define Your Needs and Find the Right Agent

With a clear budget, you can begin defining what you want in a home. Consider your lifestyle and long-term goals. Think about location, property type (apartment or villa), proximity to your workplace or schools, and the amenities that are most important to you.

How to choose a real estate agent

Navigating the market is best done with a professional by your side. It is essential to work with a RERA (Real Estate Regulatory Authority) qualified broker. You can easily verify an agent's credentials on the DLD's official website or through the "Dubai Brokers App" to ensure they are licensed and in good standing.

A trustworthy agent does more than just find properties; they provide market insights, manage negotiations, and guide you through the complex legal paperwork. To formalise the relationship and allow them to negotiate on your behalf, you will sign a Form B contract.

Step 3: The Property Search and Viewing

The property search is an exciting phase where your vision starts to become a reality. While online listings provide a great overview, nothing replaces an in-person visit. Viewing a property allows you to inspect its condition and get a true sense of the space and neighbourhood.

What key questions should you ask during a viewing

To make an informed decision, it's vital to look beyond the aesthetics and ask practical questions.

• What are the annual service charges? Understanding these ongoing costs is crucial for long-term budgeting.
• Is the property currently tenanted? This affects when you can move in and is important for investors to know.
• Have there been any recent renovations or major maintenance issues? This helps you assess the property's condition and potential future expenses.
• What fixtures and appliances are included in the sale? Clarify what is part of the deal to avoid any surprises later.

For added peace of mind, you can hire a professional property inspector to conduct a thorough check and create a "snag list" of any issues that need addressing before the sale.

Step 4: Making an Offer and Signing the Agreement

Once you have found your ideal property, your agent will submit an offer and negotiate the terms with the seller on your behalf. When a price is agreed upon, the deal is formalised by signing a Memorandum of Understanding (MOU), officially known as RERA Form F.

This is a legally binding contract that outlines all the details of the sale, including the price, payment schedule, and any specific conditions. To secure the property, you will need to provide a security deposit cheque equivalent to 10% of the purchase price. This cheque is typically held by the real estate agency in escrow until the property transfer is finalised.

Step 5: The Transfer Process and Final Handover

To proceed with the transfer, the seller is required to obtain a No Objection Certificate (NOC) from the property's developer. This document certifies that all service charges and developer-related fees are fully paid, ensuring the property is free of any outstanding liabilities.

It is highly recommended to hire a professional conveyancer to manage the legal aspects of the sale. They conduct due diligence on the property's title deed and ensure a smooth and legally compliant transfer of ownership. The final transfer takes place at the office of a DLD-approved Registration Trustee, where you, the seller, and your respective agents will meet to sign the final documents.

What documents are needed for the transfer

Ensure you have all the necessary paperwork ready to avoid delays. The core documents required include:

• Original Title Deed for the property.
• The developer's original No Objection Certificate (NOC).
• Signed Form F (the MOU).
• Original Passport, Visa, and Emirates ID for both the buyer and the seller.

All final payments, including the DLD fee and the remainder of the purchase price, must be made via manager's cheques. Once the transaction is complete and registered with the DLD, you will be issued the new title deed in your name and handed the keys to your new home. The entire process, from signing the MOU to the final handover, typically takes between 30 and 45 days.

Final Steps: Becoming a Homeowner

Congratulations, you are officially a homeowner in Dubai. The last remaining task is to register all utilities under your name. This includes connecting your DEWA (Dubai Electricity and Water Authority) account and any other relevant services like air conditioning. With the paperwork complete and utilities connected, you are ready to move in and enjoy your new home.