Dubai has been an attractive destination for property buyers, both local and foreign, due to its booming real estate market, tax benefits, and excellent infrastructure. However, buy and sell property in Dubai involves a complex procedure that needs mindful review and documentation.
In this guide, we’ll take you through the necessary documents you need to have in order to buy property in Dubai.
Here Know The Required Documents For Buying Property in Dubai:
1. Emirates ID
The Emirates ID is a compulsory identity card published by the UAE government to all tenants and citizens for new properties for sale in Dubai. As a property buyer, you’ll need to have a valid Emirates ID, as it’s required to complete any real estate transactions in Dubai. Make sure to have a copy of your Emirates ID on hand when buying property.
2. Proof Of Income
As a property buyer, you will have to give proof of income to the developer or seller. It can be in the shape of salary certificates, bank statements, or tax returns. Make sure to have these documents ready and up-to-date, as they’re required to secure a mortgage and complete the property purchase process.
3. Proof Of Residence
If you’re a resident of Dubai, you’ll need to provide proof of your current address to buy and sell property in Dubai. This can be in the formation of utility bills, a tenancy contract, or a residency visa. If you are a foreigner, you will have to provide proof of your current address in your home nation.
4. Title Deed
The Title Deed is the official paper that confirms ownership of the property. It’s published by the Dubai Land Department (DLD) and is needed for all property transactions. Make sure to obtain a copy of the Title Deed from the seller or developer before completing the purchase.
5. Sales Purchase Agreement
The Sales Purchase Agreement (SPA) is a legally binding paper that summarizes the terms and conditions of the new properties for sale in Dubai. It’s usually drafted by the developer or seller and includes details such as the purchase price, payment schedule, and handover date. Make sure to review the SPA carefully prior to signing it, and look for legal guidance if required.
6. No Objection Certificate
If you’re buying property in a jointly owned building, you’ll need to obtain a No Objection Certificate (NOC) from the building’s developer or owner’s association. The NOC confirms that there are no outstanding fees or debts associated with the property and that the seller has the right to sell it.
7. Power Of Attorney
If you’re unable to attend the property purchase process in person, you can appoint a representative to act on your behalf. To do this, you’ll need to provide them with a Power of Attorney (POA) document, which authorizes them to sign documents and make decisions on your behalf.
8. Mortgage Documents
If you’re taking out a mortgage to fund your property purchase, you will have to provide a range of mortgage documents. These include proof of income, bank statements, and employment contracts. You’ll also need to sign a mortgage agreement with your lender.
9. No Objection Certificate From The Developer
If you’re buying property in a newly constructed building, you’ll need to obtain a No Objection Certificate (NOC) from the developer to buy and sell property in Dubai. The NOC confirms that the developer has no objections to the property being sold and that all outstanding fees and debts have been paid.
10. Clearance Certificate
If you’re buying property in a resale building, you’ll need to obtain a Clearance Certificate from the building’s developer or owner’s association. The Clearance Certificate ensures that there are no extraordinary fees or debts associated with the property.
Conclusion
The process of buying new properties for sale in Dubai requires a range of important documents that must be carefully considered and obtained to ensure a successful purchase. The list provided in this guide is not complete and extra documents may be needed relying on the type of property and the possibilities of the sale. It’s crucial to seek legal advice and guidance during the procedure to assure that all legal needs are fulfilled and that the purchase is carried out smoothly.
By having all the necessary documents and seeking the right advice, you can navigate the property buying process in Dubai with confidence and ease.
