Purchasing a property, whether it’s your first or not, is a significant milestone. While it can be both exciting and overwhelming, rest assured—we’ve got you covered.
The property handover process in Dubai typically involves several key steps to ensure a seamless transition of ownership from the developer or seller to the buyer. This includes completing legal paperwork, conducting inspections, and ensuring the property is in top condition. Here’s an overview of the handover process:
Sales Agreement: The journey begins by signing a sales agreement with the developer or seller. This contract outlines the terms of sale, including the purchase price, payment plan, and other essential details.
Payment Plan: Depending on your agreement, payments are typically made in installments, leading up to the handover of the property.
Mortgage Approval (if applicable): If you’re purchasing with a mortgage, you’ll need to obtain approval from a financial institution. This involves submitting documents and undergoing the bank’s evaluation process.
No Objection Certificate (NOC): Before the transfer of ownership, the developer or seller must secure an NOC from the Dubai Land Department (DLD), confirming no outstanding dues or issues related to the property.
Transfer of Ownership: After obtaining the NOC, both parties must visit the DLD to finalize the transfer of ownership. Necessary documents include your Emirates ID or passport, the sales agreement, and the NOC. The DLD will update the property records, and it’s crucial to follow the developer’s timeline to avoid delays.
Payment of Fees: Several fees must be settled, including DLD transfer fees, registration fees, and any outstanding service or maintenance charges. Key fees include:
Oqood Fee: AED 1,040 for pre-registration of off-plan properties with the DLD.
Registration Fee: 4% of the property’s purchase price plus AED 580 for the title deed.
Service Charges: Paid in advance, covering the maintenance of shared facilities, regulated by RERA.
Administrative Fees: Some developers charge between AED 500 and AED 1,000 for handling ownership documentation.
Utility Registration Fees: You’ll need to register with DEWA (AED 2,110 including a refundable deposit) and the district cooling provider before the handover.
Title Deed Issuance: Once the transfer is completed, the DLD will issue a new title deed, officially recognizing you as the owner.
Property Handover: If purchasing a newly constructed property, the developer will hand over the keys and resolve any outstanding construction issues or defects during this phase.
Utilities & Services: You’ll need to transfer utility accounts (electricity, water, etc.) into your name, ensuring you’re responsible for ongoing fees.
Property Insurance: It’s highly recommended to obtain property insurance to safeguard your investment.
Property Management: If your property is part of a managed development, you may need to engage with a property management company for ongoing services.
Residence Visa (if applicable): Foreign nationals may be eligible for a residence visa based on property ownership. You can apply through the appropriate government authorities. (Check our Instagram to learn if you qualify for the Golden Visa through real estate investment.)
How PropertySnagging Can Assist You with Property Handover in Dubai
Let us simplify the process for you. Our expert team at PropertySnagging ensures your property is in perfect condition before handover, conducting thorough inspections, identifying any defects, and liaising with the developer to rectify issues. We handle the technical details, so you can focus on the excitement of owning your new home.
For more information on property snagging please contact us here.
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