One of the most sought-after markets to invest in properties, Dubai, opens out a booming real estate market with numerous properties at one’s fingertips. If you have buying a property in Dubai on your agenda, you must be really careful about the documents that need to be prepared so that everything goes as smoothly and hassle-free as desired. Here comes the checklist of documents most essentially required while purchasing property in Dubai:
Passport:
The first and foremost document that you would need at the time of buying property in Dubai is your passport. Through your passport, you will be identified, and it will establish your nationality. It will also be needed when you have to get registered with the Dubai Land Department. Make sure that your passport is valid and updated before initiating the process of purchasing property.
Emirates ID:
Along with a passport, you will also be asked for your Emirates ID while buying property in Dubai. The Emirates ID is the official identity card, which is mandatory for all UAE residents. It will be used to validate your residence status. Make sure that you have a valid Emirates ID, and its details are accurate and the same as those mentioned in your passport.
Proof of Income:
Purchasing property in Dubai will require the buyer to prove his income so that it is evidenced he can afford the property. This may be through salary certificates, bank statements, or any document proving the financial stability or capacity of the purchaser to pay for the property as required. Proof of income is required for financing and smooth processing of the transaction.
No Objection Certificate (NOC):
While purchasing property in Dubai as a foreign national, you will also be required to attain an NOC from the developer or seller. The NOC is a document attesting that the seller has no objection to selling the property to a non-UAE national. This certificate shall be considered at the time of registration with the Dubai Land Department and for transferring ownership of the property into your name.
Sale Agreement:
Finally, one must have a sale agreement while purchasing property in Dubai. Essentially, the sale agreement is a legally binding contract between the buyer and the seller over the terms and conditions of the purchase of the property, with details on the purchase price and payment schedule, among other important things. Ensure that you scrutinize the sale agreement properly and consider legal advice if your interests are not fully protected.
First, you should get your documents in order so that there are no hassles in the process, or it might get delayed. You can also work with a real estate agent who has experience in this regard and seek the guidance of legal counsel to help you through the transaction and ensure a smooth property buying experience in Dubai.
