Guide to Buying Property in Abu Dhabi
Here’s a step-by-step guide to help you navigate through the buying process and ensure you have a smooth and successful purchase.
For new residents, and even seasoned renters, navigating the rental process is often a muddle of confusion and mixed messages.
We’ve stripped back the information overwhelm to create a step-by-step guide to make your renting experience straightforward.
Financial Planning
Many have made the mistake of initiating the property buying process without planning their finances. Buyers tend to browse through online advertisements of properties on sale and get disappointed by the fact that the properties that match their requirements, do not match their budget. Therefore it is extremely important to consult a mortgage advisor to get information about buying a property in Abu Dhabi. The mortgage team of Dinar Properties can help you with their team of experts, who can help you with the information of the finances required to buy your property in Abu Dhabi.
Make a list of expected features for property buying
The next step is to pen down the key property buying features as per your budget for buying a property. Features must include the number of bedrooms required, distance from the workplace, school, hospital, and supermarket. One should also decide the type of property, that is; if one wants to buy an apartment or a villa.
Understand the process of buying a property in Abu Dhabi
There might be various properties for sale in Abu Dhabi, but it is important to understand the step-by-step process. Talk to your broker about how to make an offer, how to negotiate for the right price, understand the paperwork required, and get detailed knowledge about NOC (No Objection Certificate), transfer appointments, and handover. Buying a property, a villa or an apartment is expensive and a buyer spends a huge chunk of his/her money on it. It is essential to understand the process and upgrade your knowledge in order to buy a property by following the right process.
Inspection
An open mind and open eyes are two key factors while viewing the property. List down various reasons why and why not to buy a particular property in Abu Dhabi before reaching any concluding decision. A property might be furnished in a way that would not match your requirement but a buyer with the help of its broker should develop an ability to see past the present interior and should not focus on the things which can be easily replaced, changed, removed, or modified. The buyer should ask relevant questions to the broker prior to making any decision as buying a property is a significant investment.
Make an offer
Once a buyer comes to a concluding decision of buying a particular property the next step should be to make a reasonable offer to your broker that suits your budget as a buyer. The broker then will initiate the negotiating process with the seller. This process can be a little time-consuming and would need a lot of discussion but the brokers at Dinar Properties are experts in getting both buyer and seller a fair deal.
Memorandum of Understanding (MOU)
A Memorandum of Understanding (MOU) is a document describing the broad outlines of an agreement that buyer and seller have reached which includes the terms and details of an understanding, requirements or clauses, and responsibilities of both property buyer and property seller. Brokers at Dinar Properties will run you through the MOU to ensure that both buyer and seller are aware of the terms mentioned in the document.
Sale Progression
Dinar Properties will ensure a step-by-step one-stop solution for your house buying or selling experience. The in-house sales team will be by your side right from the NOC to the transfer process. Moreover, the document checklist will be provided and checked if every box in the document checklist is ticked by the real estate brokers at Dinar Properties.
