With its great weather, world class infrastructure, tax-free lifestyle and high standard of living, it is not surprising that the UAE is gaining increasing popularity both as a top holiday destination and as a genuine and exciting region for investment opportunities.
The UAE real estate market is no different. Each and every day we are seeing an influx of new investors to the region, many of whom are entering the market or buying real estate assets in the UAE for the first time, and who need specialist advice and support on all aspects of the purchasing process.
At Your POA, we are uniquely positioned to assist with this, both as your appointed Power of Attorney representative, but also as an additional source of advice and support. Our experienced team can provide expert guidance on the proposed transaction and specialist knowledge of all the buying procedures.
Our property purchase services
What we can do for you:
- Conduct initial reviews of the property transaction and case specifics
- Coordinate pre-acquisition surveys / property valuations
- Carry out initial and pre-transfer title checks / screening to ensure you are suitably protected when making your investment(s)
- Complete all paperwork with the broker / seller – including negotiating, drafting and/or reviewing MOUs and/or Sale Agreements
- Facilitate the contractual obligations as per the signed MOU / Sales Agreement
- Issuance of security deposit cheque(s) (*subject to additional compliance checks / charges)
- Complete all paperwork with any banks / mortgage providers – including mortgage contract signing / registration with Bank &/or Land Department (*subject to additional compliance checks / charges)
- Complete all paperwork with the Developer – including attendance at the application for the No Objection Certificate (NOC)
- Providing pre-transfer reviews and financial settlement statements
- Complete all paperwork with the Land Department – including POA representation at the final transfer of ownership to ensure the safe transfer of title
- Processing the secure registration & issuance of the new Oqood / Title Deed under your name(s)
- Complete all paperwork the utility companies – including registration / activation of the new service accounts (eg water/electricity, telecoms, gas etc)
The UAE’s real estate market has shown unprecedented growth over the last few years with record numbers of transactions being witnessed and with Dubai outperforming most major cities, including London and New York.
An ever-changing and varied real estate market, there really is something for everyone and with the UAE’s vast availability of top-quality products, coupled with some of the highest returns on investment available globally, it is clear to see why people from all across the globe are making the UAE their preferred destination for property investments.
Get in touch today to see how we can help you make the next step in buying your dream home in the sun!
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What our property purchase Clients Say
Thank you very much for assisting me by being my POA in Dubai. You have provided a fully professional, efficient and friendly service which has been First Class! I’m very glad you were recommended to me for the service. Thanks once again. I am very grateful.
I could not have asked any more from you and the effort you have given has really helped me resolve what was a very complicated situation. I would be pleased to refer others to engage the services of Your POA and I would also be happy for you to use my details as a client reference anytime, for any future clients. I would 100% recommend! Thank you once again!
Purchasing a new property is one of the most important and indeed stressful times for many people. This is especially true when you are buying a property in another country and if you are not familiar with all of the local procedures that are involved. This is where we come in.
At Your POA, we are more than just an authorised signatory. Our specialist team have in excess of 30 years’ combined experience within the UAE real estate market and we are on-side to support you throughout the entire purchasing process.
We can answer any questions you might have and explain clearly as to how things work locally, as well as providing guidance on the required documentation, fees, procedures and deadlines according to our experience and standard market practice. We will also oversee the transaction and advise on the formalities to ensure you are suitably informed and protected.
Perhaps you simply need to assign a Power of Attorney to turn up and sign the final transfer papers. But maybe you need something more than this and would like some additional, independent advice that your realtor cannot offer?! You may also want to know how to best handle this purchase and if there are any other things to look out for. There are often other factors that need to be considered.
Examples of some other common questions we see are detailed below…
- How much are the land registry charges when buying a property in the UAE? Who pays these fees – the buyer, the seller, or both?
- What proof of ownership do I get and how long does the buying process take on average?
- Do I need to be present physically to sign any documents?
- Do I need a UAE bank account to carry out this buying process?
- Can I obtain a mortgage if I am a non-resident?
- Should I purchase the property in my sole name or jointly with my spouse?
- What happens to my asset(s) if I pass away? Do I need a local Will drawn up?
- Can I register the property under a corporate structure, such as a company, foundation or trust?
- Can I obtain a residency visa in Dubai?
At Your POA, we appreciate that each case is different and so that your requirements might be different to someone else. We are fully flexible to work with you and to present options that suit your specific needs. Get in touch to find out how we can help.
