General Guide for Buying a Residential Property

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Timetable

Description

Time Frame

Foreign currency transfer

up to 10 days

Arranging finance

up to 45 days

Developer transfer

up to 10 days

Land registration process (if applicable)

up to 45 days

Fees

Fees

Cost

Agency fee (% of selling price)

Transfer fees

Cost

Property that is registered with the Land Department (% of Land Department's valuation of property)

Property that is not registered with the Land Department (Developer fee applies)

up to 3%

Maintenance fee payable at time of transfer

up to 3%

Arranging finance

up to 45 days

Developer transfer

up to 10 days

Land registration process (if applicable)

up to 45 days

Financed properties

Cost

Property that is registered with the Land Department (% of Land Department's valuation of property)

Arrangement fee (% of loan amount)

up to 1%

Registration of mortgage with the Land Department (% of loan amount)

0.25%

Registration of mortgage with the developer

up to AED 5,000

Required Documentation

By a Developer

Passport copy

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By a Company

Certificate of Incorporation
Memorandum and Articles of Association
Board Resolution
Power of Attorney

By a Financial Institution
(if applicable)

Passport copy
Proof of residence
Salary certificate
Six months bank statements

Please Note: For an overseas company, all of the above must be attested by the UAE Embassy. Requirements will vary from lender to lender.

Better Homes Services

Residential Sales & Leasing
International Sales
Better Plus

Commercial Sales & Leasing
Property Management

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Short-term Rentals
Project Sales & Marketing

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Additional Services

Mortgage brokerage
Property valuations

International money transfers

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Relocation services

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DEWA (Dubai Electricity & Water Authority)

For details of connections and transfers, visit www.dewa.gov.ae or call +971 4 324 4444.

Disclaimer

This information is provided as a general guide only. All specific details need to be confirmed with the individual organisations at the time of buying a property.