Always conduct your due-diligence before you a ready property in Dubai
It is important to understand if the property has been regularly maintained and any major upgrades that have been made
If there is an existing tenant in the property it is important to understand the tenancy contract and the exact vacating details
It is important to consider if the buyer is paying cash or applying for a mortgage, or whether the seller has an existing mortgage on the property
If the property is already mortgaged, the buyer needs to be able to discharge the seller’s mortgage before collecting the title deed at the land department
Areas linked with good transport links, have higher rental potential.
Proximity to restaurants, hotels, shopping malls, grocery shops, utility centres, schools, medical facilities, beach and parks should be taken into consideration before you make your purchase.
Beyond the purchase price, experts say other areas where costs could be incurred during the buying process include:
Transfer appointment fee
Transfer appointment admin fee
Agency professional fee
Mortgage registration fee
Mortgage registration admin fee (if purchasing with a mortgage)
A recurring cost like a service charge should be ascertained early on, as it can greatly impact the total cost of ownership of a property.