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Complete Guide to Buying an Apartment in Dubai

Dubai is a fast-growing city with reasonably priced accommodations, making it a top choice for foreign investors and talents who relocate to the city to find better employment opportunities. Apartments for sale in Dubai often yield a higher return on investment or ROI which encourages local and foreign investors to invest in a real estate property in the city.

Once you find good deals on apartments for sale in downtown Dubai, you also must consider the legal aspects of buying a property, especially if you are a foreign investor. Whether you’re buying a property for personal use or for the purpose of investing in real estate properties in Dubai, you need to make sure that all the papers for the property are in order.

Whether you’re investing in a fully furnished house or buying a 1 bedroom apartment for sale in Dubai Marina, you need to follow the process and acquire the documents listed below in order to legally own a property.

  1. Establish an agreement between the buyer and seller
  2. Sign the sale agreement or Memorandum of Understanding

Once you find a property and before signing any documents, you need to discuss the terms of sale with the seller. Both parties must ensure that there are no ambiguities regarding the selling price, mode of payment, and other details that are crucial in completing the sale of the property.

  1. Apply for a No Objection Certificate (NOC)
  2. Go to the DLD to affect the transfer of the property

After settling the details, the buyer, the seller, and the real estate agent must meet at the property developer’s office to apply and pay for a NOC to transfer the ownership of the property. Then, all parties involved will meet at the Dubai Land Department office to affect the transfer and complete the formalities before a new title deed is issued in your name.

If you are looking to buy a 2 bedroom apartment for sale in Dubai Marina and are unfamiliar with the legal process or you’re new to investing in real estate properties, you may get in touch with one of our experts at Rocky Real Estate whose knowledge and experience can help you obtain the best return on your real estate investment. We can also help you find a residence, office space, or freehold property in Dubai.

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