BUY REAL ESTATE IN DUBAI ONLINE – ADVICE FROM EXPERTS

Keyspacerealty
June 1, 2024

Thanks to the innovative transaction system, all investors can now purchase real estate online. This type of transaction frees the investor from the need for physical presence in Dubai. Furthermore, it provides the opportunity to buy real estate during a pre-launch phase. The following sections delve into further details regarding online real estate purchase.

AUTOMATING ALL PURCHASE PROCESSES

Buying property in Dubai online has become a common practice among numerous investors. The entire process, from property inspection to monitoring construction progress, has been completely automated. The real estate agency takes charge by independently liaising with the developer and organizing all essential paperwork. You will receive an online version of the documents for your review and signature, and if preferred, physical copies can also be arranged. Notably, having a personal account in Dubai is not mandatory for the initial deposit payment or subsequent installments. Payments can be conveniently facilitated through standard transfers from your account to the developer’s escrow account. Furthermore, all other logistical aspects are efficiently managed by the real estate agency and the dedicated agent accompanying you. Your primary role remains to await the construction’s completion and ensure prompt payments.

Ejari is necessary for the government to monitor the rental property market and protect all parties of the transaction. If any serious problems or disputes arise between the tenant and the landlord or the mediator, the case goes to court. However, the court is obliged to reject the application if the rental agreement is not registered in the Ejari system.

It is worth noting that in the case of short-term rental, the landlord also needs to obtain the Holiday Home Permit and Unit Permit. A short-term lease is considered to be a lease agreement for a period of less than a year.

INSTRUCTIONS FOR BUYING REAL ESTATE IN DUBAI ONLINE

The process of buying property online is incredibly straightforward and similar to the traditional purchasing procedure. The steps involved in this purchase are relatively simple:

Consultation with an agent and selection of the apartment
Apartment reservation. The reservation fee is included in the first installment
Signing the reservation agreement
Staged payments for the apartment
Property handover

Once you’ve consulted with your agent and found the perfect option, the reservation phase commences. You’ll need to deposit 10-30% of the apartment’s total amount into the developer’s escrow account as a reservation fee. This deposit is also considered part of the first installment, preventing any additional costs. Subsequently, you’ll be provided with a reservation agreement containing comprehensive details about the property, outlining the payment plan and schedule. At the time of signing, the property’s price is fixed and will not change for you thereafter. Then, your task is simply to continue making payments as the construction progresses until its completion.

AGENCY ASSISTANCE

Upon placing a deposit and signing the agreement with the developer, your collaboration with the real estate agency won’t cease. An expert from the chosen agency will continue to assist you, providing advice on any arising inquiries. Additionally, the agent will be responsible for regularly updating you on the construction progress. Should any issues or delays arise during construction, the real estate agency will provide support in resolving problems or refunding your investment.

Furthermore, if you intend to sell the acquired property or lease it out after construction completion, the agency will offer assistance. In such cases, their responsibilities will include sourcing and vetting suitable tenants or buyers. Regardless of the scenario, the agency will handle all matters independently, alleviating the necessity for your presence in Dubai.

MISSED OPPORTUNITIES

Properties within specific projects tend to sell out rapidly due to their high demand among investors. The majority of them acquire these properties remotely, without the need to be physically present in the country and avoiding lengthy flights. If you aim to capitalize on a lucrative offer from a developer and secure a property with significant potential, be prepared for competition from such investors. You can either visit Dubai personally, liaise with a real estate agency and the developer, and then try to place a deposit on a property. Alternatively, you can proactively engage with your agent and execute a deal during the early launch phase. In the latter case, the chances of successfully purchasing a property will be higher, sparing you unnecessary travel-related challenges.

BUYING REAL ESTATE IN DUBAI ONLINE

The process of purchasing real estate online in Dubai is simple; it doesn’t require a significant amount of time and resources. Furthermore, It removes the need for additional actions like traveling or visiting properties in person. If you’re interested in buying property in Dubai online, get in touch with the specialists at Keyspace Realty. Our agents will inform you about all available properties, propose the most advantageous investment solutions, and provide full support throughout the entire transaction.