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How to Define Your Off-Plan Property Requirements?
When buying off-plan, you cannot physically view the property, but you benefit from: - **Best Price**: Secure the best unit at the lowest price, enhancing your investment returns. - **Profit Opportunity**: Sell before project completion for a significant profit if the project is popular and the market is strong. - **Better Payment Plans**: Usually lower upfront costs and flexible monthly payments. Determine your needs including budget, location, developer, property type, size, facilities, and community.
Why Register with a Real Estate Company Specializing in Off-Plan Properties?
Buying off-plan in Dubai is streamlined, but partnering with an experienced agency with strong developer relationships provides access to the best choices. Your agent will represent you, ensuring contracts, project updates, and handovers are handled smoothly. A reliable agent will be registered with all off-plan projects and developers to offer optimal opportunities.
How to Find the Right Off-Plan Property?
Your agent will align your requirements with available projects. They will provide detailed information including floor plans, payment plans, brochures, and videos. Some developers offer mock-ups to showcase materials, layouts, and amenities. Your agent can arrange site visits if possible to help you make an informed decision.
What to Do Once You've Selected a Property?
Visit the developer’s sales office with your agent to select and reserve your unit by signing a Sales Purchase Agreement (SPA). An initial deposit, typically 10-20%, is required, along with a passport copy. Within 30 days, you must also pay a 4% Dubai Land Department (DLD) title registration fee and an AED 1,000 aqood fee.
How to Manage Payments for Your Off-Plan Property?
Adhere to the payment plan specified in the contract until the property is handed over. Reselling is usually permitted during the contract term. Ensure you fully understand the payment terms and consult your agent if you need clarification.
What to Expect During the Handover Process?
At the end of the contract, inspect the property for any issues that need addressing. After completing the inspection, make the final payment to receive access cards and keys. Your agent will assist with this final step to ensure a smooth transition and prompt move-in.
