Buying a property in Dubai for the first time can be quite intimidating. Having a conveyancer can help you speed up the process of purchasing a property and navigate through its various legal tenets.
Roles a conveyancer can play
1. Advise on the official MOU (DLD Form F) to protect all parties involved. Including but not limited to Seller, Buyer, and Agent.
2. Reviewing and advising on the special conditions, timeframes including all parties’ obligations.
3. Ensures smooth transaction and legal transfer of ownership of property in a timely manner.
4. Hold all deposit cheques until successful transfer of property.
5. Property blocking/manual transfer with all parties if required.
6. Coordinate timely requests of required documentation for all parties involved.
7. Ensures banks have all necessary documentation required to complete necessary steps for seller/buyer/valuation company.
8. Organize any settlement at seller’s bank (if any).
9. Collect the property security documents from seller or seller’s bank if required
10. Ensures all maintenance/service fees paid as per developer’s requirements for NOC application.
11. Advise the parties with the required documents for NOC, transfer and throughout the whole process.
12. Arrange and coordinate with all said parties at a convenient time for NOC application with the developer if required.
13. Draft and get confirmation on the final transfer statement from both parties. Stating a complete breakdown of monies involved, including the required manager’s cheque for all parties to complete the transfer.
14. Schedule property transfer with all parties involved.
15. Works with independent mortgage brokers with all required documentation.
1. Power of Attorney (POA) – Prepare and translate POA - locally or internationally.
2. Create a client account for holding funds
3. Title Deed application
4. Managing developer handover services (DSR/Oqood/Title deed/Snagging)
Editor's note: This post was made possible thanks to MAK Conveyancing.