Legal & Financial
In many parts of the world it is usual practice to enlist the services of a lawyer when selling a property but this is not normally the case in Dubai. Contracts are drawn up by the developers themselves and money is usually directed straight to the developer or through the agents' own clients' account. If a client wishes to seek advice on the sale, Dubai Luxury Homes can recommend a local law practice that has worked closely with our clients in the past.
Lending
If you currently have a Dubai mortgage in place for your property, some additional paperwork is required.
Financial
We will normally ask the purchaser for a deposit when he has agreed to buy your property. This deposit is typically non-refundable should the purchaser then withdraw from the purchase.
The deposit is deducted from the total amount due on transfer. On the date of transfer, once the documentation has been signed the balance due will be transferred to the sellers nominated account or by cheque. These transactions are usually routed through our clients' account to ensure that there are no delays with clients releasing funds.