UAE is a city that is experiencing a real estate boom. This nation has got it all, the spacious shopping malls, fine-dining restaurants, lush green resorts, relaxing beaches, and the skyscrapers representing an advanced economy of the United Arab Emirates. There is a continuous development of new real estate societies taking place in the country. Therefore because of the region’s fame in building new properties, investors worldwide will continue to make property transactions. The real estate lawyer can help people get the property they desire. They can even assist in the sales of property.

It would be best to reach the Real Estate Lawyer For A Better Perspective of the Property Market.

UAE, also known as the “Golden Country” and “Futuristic Nation,” has splendid buildings. Therefore, it has the best options for the sale and purchase of the property. At present, the large-scale and luxury construction of futuristic yet sophisticated buildings continues quickly in the region. The UAE’s real estate is ideal for investment. Therefore, the business person and entrepreneurs are searching for more properties to buy to sell them later. All these deals are increasing property transactions in the country. Therefore, you will need an outstanding property attorney if you want to buy, sell, lease or mortgage an asset in UAE. With the help of a real estate expert, you can make investments that bring profits. So you can re-invest and continue the cycle by selling the property again. Hence hiring a real estate legal assistant has many advantages. They can also help you in completing the paperwork for property deals.

Here is a Better Picture of UAE Property Transactions Provided by Property Lawyers in Dubai

To give you a comprehensive view of the whole investment scenario and property deals, we have facts and figures. The Dubai Land Department (DLD) reports in the year starting from September 2018; there were recordings of around forty thousand sales deals. That were reaching a staggering AED 161.99 billion worth of transactions. To better understand the real estate market in UAE, you can reach out to a real estate attorney.

Here is the total number of sales deals in Dubai for the period between 2017 and 2018:

There were around twenty-five and half thousand sales deals of more than fifty-five billion Dirhams’ worth in UAE. Moreover, there were about eleven thousand mortgage deals that were worth more than eighty-five billion Dirhams. Also, about three and a half thousand transactions were of nearly twenty million Dirhams worth. For an in-depth analysis of UAE real estate facts and figures, you can contact a real estate lawyer.

How can you Search for a Rental Property in the UAE?

You can look for accommodation on lease by utilizing local newspapers. You can also search for it in the printed or online magazines. For completing the legal process, a real estate attorney can help you. You can also reach a registered real estate legal consultant or one of the real estate websites to find a suitable house or apartment for rent. Moreover, you can also lease property straight from the owner.

The consultants will also charge you a service fee, up to around five percent of the total rent price. For renting your dream property, you can assign the rental paperwork to a property attorney.

Given below are tips on how You Can Buy or Sell a Property in the UAE?

1. The first step in buying or selling property in the UAE is to create a buyer and seller agreement. You can make it on your own, but it would be best to create this type of agreement with the help of a real estate lawyer in Dubai. Make sure there are no inconsistencies in the contract.

2. Afterwards, you need to sign the sale agreement. It is also called a Memorandum of Understanding (MOU). It is also known as Form F and is obtainable from the RERA website.

3. Now, you, the seller, and the real estate agent should meet at the real estate developer’s office. The goal of this meeting is to apply for the NOC or No Objection Certificate. You must pay for the NOC as well to transfer the ownership. A real estate attorney can help in this process.

4. The final legal step of purchasing or selling a property in Dubai is meeting the seller. It would be best to meet him or her at the Dubai Land Department office to carry out the transfer.

For an effective property transfer, you will need the service of property lawyers in Dubai. Also, it would help if you reached DLD or Dubai Land Department. Moreover, you must possess the following documents when visiting the DLD office:

• A manager’s cheque that is mentioning the property price paying funds to the seller.
• The genuine identification documents of purchase and seller. They include Emirates ID, passport, and visa.
• The developer should give an original NOC.
• Completed and Signed Contract F / (MOU).
• After the formal procedure is complete, issuing a new title deed in your name will occur. You will become an official property owner in the UAE.