For serious investors buying property in Dubai, you should be sure that all the finances sorted before you start searching for the ideal property.
Due to the fact that the purchase process, once started, can progress very rapidly and should a real estate investor is not a mortgage agreed upon or should the investor in question, not enough money for the sale of hand - it could lead to the whole process falling through as a result of the continuing fast-paced nature of the Dubai property market.
Many investors, internationally and locally a sense that in direct contrast to "sophisticated sales in Dubai, sees the developers and real estate agents that are potential customers with superior show to houses and beautiful brochures to examine the real estate purchase in Dubai currently not some complexity and transparency. "- This is not good news when sales agents to" clinch "a deal with a potential buyer.
Read on to see how the common problems that investors can, while the sale in Dubai.
Altogether there are so many developments that are in the process of construction that an investor will have to spend much time comparing the properties of their respective development, the developer and the specific characteristics and properties of functions, all of these requirements in comparison with the Investors funds available to ensure that they are the best valued property for their budget and investment criteria.
If you try to create a mortgage (in order to buy property in Dubai), an investor can do this either in their country of residence or on the ground in Dubai. A growing number of financial institutions are now more products to foreign buyers on a monthly basis, so it is very beneficial to investors than the "shop-in" for the best interest rates and payment terms.
If the investor's financial support in order to buy a resale property, he / she must have a completed assessment of property that the financial institutions and show that the property in question is indeed worth the asking price.
To set the proper questions, it is advisable to have a solid idea of what type of investment you want to add you ... before you begin the search!
The good news for buyers looking to purchase investment property in Dubai, is the fact that there is no taxation of the property to speak. Translated, this means that there is only a minimal additional expense to the purchasers, to cover attorney's fees he ongoing maintenance of the property as well as in shared areas or facilities.
For all those investors looking to profit from their purchase immediately, there's always the option for the purchase of real estate in Dubai, focusing on the resale.
It is important to bear in mind that because there is currently no formal transfer in Dubai, as well as no way to find out who holds the title of a free hold property, an investor is recommended to ensure the real estate transaction for any resale unit "goes beyond the original developers. "
This is of crucial importance, since it is usual for investors who do not know, and the warning, the victim of fraud. It can not be stressed enough - an investor interested in a resale property must contact the original developer before signing a contract to purchase (Note to self - this is one of the most important issues must be argued with when buying property in Dubai ).
As already done in the past, many real estate investors their properties to a secondary purchaser during the construction period is already achieving the benefits of a capital gains have already been received.
When it comes to the purchase of a resale property during its construction period, most developers are for the resale of the property plan, but some developers are convinced that only the original purchaser is entitled to during construction.
The secondary buyer in such cases will only be able to resell the property after completion of the development. It has, however, the norm for investors to buy during the construction phase, since the majority of property developments are not yet complete!
Due to the fact that there is no trust account in Dubai, which an investor pays money goes directly into the developers' accounts (as for the financing of the deployment process).
The fact that in Dubai, the government has a sophisticated procedure in force, stating that "all developers who sell property units to agree to 50% of the price for each unit in a bond, and only then is he to sell his property ".
Freely translated, this means that if a developer go bankrupt or on a contract in Dubai, the government should have sufficient funds in the bond to complete the project.
Such insights into the buying and selling of Dubai's property market is imperative, and no doubt necessary that all potential investors to familiarize themselves with all the necessary information to make an election quickly to investment, which is a very lucrative and successful.
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