Sales Conveyancing

Buying or selling property in Dubai is more than just finding your ideal space; it involves understanding intricate legal processes as well. The conveyancing phase can seem overwhelming, which is why we offer a comprehensive conveyancing service to ensure you feel secure throughout your transaction.

The first step in the legal process of purchasing property or land is to sign a unified contract, commonly known as ‘Form F.’ This digital form is submitted through the Dubai Land Department’s website and contains crucial details about the purchase, including requirements, responsibilities, and associated costs. Withdrawing from this agreement can incur significant costs, so it’s essential to work with a knowledgeable conveyancer who can provide the right guidance.

If the buyer is securing a mortgage, a property valuation is necessary. The bank will require this assessment before approving the loan. The seller must ensure that the property is accessible for the valuer. After a successful valuation, the valuer will send their findings to the buyer’s bank, which will then determine the mortgage offer.

If the seller has an outstanding mortgage, they must obtain a liability letter from their bank, detailing the remaining mortgage amount. This process can take up to 14 working days, and the letter is typically valid for 7 to 15 working days.

The blocking process safeguards the buyer and is usually initiated when the buyer is paying in cash. This service, provided by the Dubai Land Department, involves appointing a trustee office to act on behalf of both the buyer and seller. All related documents and payments are given to the trustee, who ensures the seller’s liabilities are cleared. Once the bank confirms the settlement, both parties are notified to finalize the exchange. This procedure minimizes financial risk for both sides.

Following the conveyancer’s guidance, a manager’s cheque must be prepared as a secure form of payment on the day of transfer. If the buyer is paying in cash, they will need to provide the full amount due to the seller. For mortgage buyers, the bank typically issues a manager’s cheque for the percentage of the loan they are providing. If there’s an existing mortgage, two manager’s cheques will need to be prepared—one to pay off the seller’s mortgage and another for the remaining balance.

In the case of a resale, a No Objection Certificate (NOC) must be obtained from the developer. The NOC verifies that all fees have been paid and that the property is eligible for sale. As service charges are often prepaid, the buyer will reimburse the seller for any applicable charges during the transfer process. A copy of the NOC will be provided to both the buyer and seller by the developer.

Once the transfer date is set, it’s time for the transfer at the Dubai Land Department. We will assist you at every stage, ensuring that funds are secure, cheques are issued, service charges and rental payments are settled, fingerprints are taken, a new title deed is created, and keys are exchanged. A copy of the NOC will also be sent to the buyer’s bank to confirm the property transfer date.

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Phone

+971 58 998 1729

Email

info@blueharbour.ae

Office Address

Dubai, United Arab Emirates

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