There are four basic steps which you will have to take;
- When you have decided on your investment, a consultation is to be had
with a real estate agent about establishment of an agreement between
buyer and seller
- The next step is sign the Memorandum of Understanding (MoU), also known as
‘Contract F’ in Dubai which is available on the Dubai Land Department’s
(DLD) website under ‘Contracts’. After signing, it is customary to pay 10%
deposit of the property value to the seller.
- In order to transfer ownership, you will also need to pay for a No Objection
Certificate from the developer of the property you are buying. And once
this is finalized you will also have the needed NOC.