Step by Step to Buying Off-Plan in Dubai
This guide covers key aspects, such as deciding what you're looking for, registering with a real estate company, finding the right property, making the purchase, keeping up with payments, and the handover process. A smooth transaction relies on working with an experienced agency, fostering good developer relationships, and maintaining a clear understanding of your budget, location, property type, and other requirements. The guide also underscores the importance of reviewing the payment plan and completing the handover inspection before final payment and receiving the keys.
When buying off-plan, consider factors such as budget, location, developer, property type, size, facilities, and community. Benefits include potential for low upfront costs, potential for profit, and opportunity to choose best unit at lowest price.
Partnering with a real estate company specialized in off-plan can give access to a wider range of choices. Ensure they have strong relationships with developers and assist in the contract, project updates, and handover process.
Your agent will present options matching your needs, providing all necessary information and materials to make an informed decision. Developers may offer site visits and mock properties to showcase.
Once you’ve found the right property, you’ll reserve it by signing a sales purchase agreement. Initial deposit and fees are required, and payments will be made per contract payment plan.
Keep up with payments until property is handed over. Reselling is allowed during the contract term. Ensure you understand payment plan terms and ask for clarification if needed.
Upon completion, inspect the property for any issues, make final payment, and receive access cards and keys. Work with your agent to ensure a smooth process.
