The process of buying an off-plan property in Dubai typically involves the following steps:
- Research: Choose the right location, developer, and property that best fits your needs and budget.
- Reserve the property: Put down a reservation fee to secure the property.
- Sign the sale agreement: Review and sign the sale agreement that outlines the terms and conditions of the purchase.
- Pay the down payment: Usually, off-plan properties require a down payment of around 10-20% of the total purchase price.
- Obtain a mortgage (if needed): Arrange for financing through a mortgage or other means if necessary.
- Wait for completion: Wait for the construction of the property to be completed.
- Final payment: Pay the remaining amount and take possession of the property.
It’s important to have a real estate agent and a lawyer who can assist you in navigating the process and ensuring that everything is done legally and correctly.