What documents are needed to buy property directly from a developer?
When purchasing property directly from a developer in Dubai, there are several essential documents that you must prepare to ensure a smooth transaction. Here’s a detailed overview of what you’ll need:
Required Documents for Buyers:
Passport Copy: A clear copy of your passport, including the photo and information page, is essential for identification purposes. This is required whether you are a resident or a non-resident.
Emirates ID (if applicable): If you are a resident of the UAE, you’ll need to provide a copy of your Emirates ID as part of the documentation.
Resident Visa (if applicable): For residents, including a copy of your UAE resident visa can be necessary to complete the documentation process.
Proof of Address: While not always mandatory, some developers may request a recent utility bill or bank statement as proof of your current residential address.
Power of Attorney: If you are unable to be present during the transaction, a power of attorney is required to authorize someone else to act on your behalf.
Company Documents (if applicable): If the purchase is being made through a company, you will need to provide the company’s registration documents, such as the Articles of Incorporation, Registration Certificate, Power of Attorney for the signatory, and a Board of Directors Resolution authorizing the purchase.
Required Documents from the Developer:
Sales and Purchase Agreement (SPA): This is the legally binding contract between you and the developer. It outlines all terms of the purchase, including the property details, price, payment schedule, and handover conditions. It's crucial to review the SPA carefully, possibly with legal assistance, before signing.
No Objection Certificate (NOC): This document confirms that there are no outstanding service charges or fees associated with the property, allowing the ownership transfer to proceed smoothly.
Title Deed (upon handover): The title deed is the official proof of property ownership, issued by the Dubai Land Department once the full payment is made, and the property is handed over.
Project Brochure and Floor Plans: Developers typically provide these to give you a comprehensive understanding of the property's features, amenities, and the specific unit you are purchasing.
By ensuring you have all these documents in order, you can confidently proceed with your property purchase in Dubai, making the transaction as smooth and hassle-free as possible.