Frequently Asked Quastions

1.What is the role of the Dubai Land Department (DLD) in real estate transactions?

 

The DLD oversees all real estate transactions in Dubai, ensuring legal and transparent property transfers. It maintains a public register of property ownership and provides services like property valuation and dispute resolution.

 

2.How is the Dubai real estate market regulated?

 

The Real Estate Regulatory Agency (RERA) oversees the market, ensuring transparency and protecting the rights of buyers and sellers.

 

 

3.What is the process for buying a property in Dubai?

 

Determine your budget, hire a registered real estate agent, search for properties, make an offer, secure financing, sign the Sales and Purchase Agreement (SPA), and complete ownership transfer at the DLD.

 

 

4.What costs are involved in buying a property in Dubai?

 

Apart from the purchase price, consider registration fees (about 4% of the property price), agent commission (usually 2%), mortgage fees (if applicable), and annual service charges for maintenance.

 

 

5.Are there any legal considerations when buying property in Dubai?

 

Using a conveyancer is recommended for a smooth transaction. Conveyancing fees range from AED 6,000 to AED 10,000, and NOC fees vary depending on the developer.

 

 

6.What are the essential RERA forms for buyers and sellers?

 

Form A – Agency Contract Agreement/Listing Form:

Required for selling a property.

The seller and listing agent sign this form, outlining the agreement, property details, marketing strategy, and authorization for property advertising.

 

Form B – Buyer’s Agent Agreement:

Necessary for buying property.

Buyers appoint an agent using this form, specifying property type, location, budget, and requirements.

 

 

7.How does Form A work?

 

After signing Form A, it gets approved by the DLD’s Trakheesi system, assigning a permit number to the property advertisement.

Brokers must collect the seller’s details during property listing.

Joint property owners can sign Form A together.

 

 

8.What information is included in Form B?

 

Property type of interest.

Property location.

Buyer’s budget.

Contract termination terms, compensation percentage, and agency commission.

 

 

9.What does Form F include?

 

This form serves as the purchase agreement between the buyer and seller in a property transaction.

It is signed once both parties have reached an agreement on the price.

If you intend to purchase a property in Dubai, having Form F is essential to successfully finalize the transaction.