As soon as your offer will be accepted by landlord, you’ll give security deposit cheque amounting 10% of total value of property under landlord’s name. Congratulations! You bought a home. But no still some procedures are to be completed.
A valid passport copy with signature page.
A valid Visa copy (if you are a UAE resident)
A copy of your valid Emirates ID (if you are a UAE resident)
Once MOU will be prepared by your hired agent, Both you and seller will sign and landlord will request Property’s developer to issue NOC.
Once the NOC is issued, all parties will go to Dubai Land Department to officially transfer ownership. The Dubai Land Department will insist on payment of the purchase price being made in the form of a manager’s cheque made payable to the seller on the date of transfer, along with managers cheques for the 4% transfer fee due to the DLD and an admin fee of AED 4,000 and AED 200. Once formalities are completed, a new title deed will be issued in the name of the buyer.