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Buyer Guide

Who can Buy?

 

Any nationality, whether based
overseas or a resident of Dubai,
can purchase in the freehold areas
of Dubai’s Real Estate market.
GCC Nationals also in non-freehold areas.

BUYER GUIDE image1

What Documents
are Required?


 
Purchaser is an Individual:
 
  • Passports for all Buyers
     
  • Signed Buyer Agreement known as Form B and signed Memorandum of Understanding (MoU) known as Form F.

 

Purchaser is a UAE Company:
 
  • Certificate of Incorporation
  • Memorandum and
    Articles of Association & Apostille
  • Board Resolution
    & Power of Attorney
  • Signed Buyer Agreement known as Form B and signed Memorandum of Understanding (MoU) known as Form F.

 

BUYER GUIDE image2
Purchaser is an Overseas Company:
 
  • Same documents as above
  • All documents must be translated in
    Arabic and attested by the UAE
    Embassy and Ministry of Foreign Affairs

How do I Buy a Property?

KENSINGTON will be your partner in the whole process of finding
the right home that is suited to both
your wants and needs.

BUYER GUIDE image3

Here is a short step by step guide:

  1. Individual consultation on location and property requirement

  2. Mortgage consultation through our in-house mortgage broker (if applicable)

  3. The Buyer’s Agent Agreement (Form B) contains all agreed details

  4. KENSINGTON will search for the right property in the market
  5. Viewings of different properties

  6. Price, terms & conditions will be drafted in the Form F (MoU) and agreed with the seller

  7. On signing the Form F (MoU), a 10% deposit has to be paid which is held in trust by KENSINGTON

  8. NOC (Non Objection Certificate) from developer and Home Owners Association (HOA) will be applied for by seller. This assures that no outstanding payments are due by the seller

  9. KENSINGTON will arrange appointment for transfer at DLD (Dubai Land Department)

  10. Transfer of the property in your name at DLD

 

There will always be a professional agent
from KENSINGTON by your side
who will be able to answer
all the questions
and help you through the process.

How Long
does the Purchase Take?

From signing the Form F (MoU) until
the transfer it takes
approximately 3-5 weeks.

SG- and BG-How long does it take

What are the Fees?

Dubai Land Department
 
For properties with available title deed:
   
Transfer Fee: 2% of the purchase price*
*it is in common practice in Dubai, that the Buyer pays also the transfer fee part of the seller means in total 4% of the purchase price
 

 

Admin Fees: AED 580 for apartments or villas
  AED 430 for land or plots
   
Mortgage registration: 0.25% of loan amount plus AED 290 admin fee
   
   
For properties without title deed (OQood):  
     
Registration Fees: 4% of the purchase price  
  8% of purchase price if the Seller is represented by PoA  
  In case the purchase is less than market value, the fee is calculated according to the market value after Valuation Committee review.  
Admin Fee: AED40  
  AED 1,000 for OQood registration  

 

 
SG- and BG-How long does it take
 
Registration Trustee Office
 
 
For properties with available title deed:
 
AED 2,000 if the property value is less than AED 500,000
AED 4,000 if the property value is equal or more than AED 500,000
 
 
For properties without title deed (OQood):
 
AED 3,500 if the property value is less than AED 500,000
AED 5,000 if the property value is equal or more than AED 500,000
AED 10,000 if the the seller is represented by PoA

 

 

KENSINGTON Exclusive Properties

Brokerage: 3% of the purchase price for completed or under construction properties

Form B (Buyer/Broker) Download pdf undefined BUYER GUIDE image4
Form F (Seller/Buyer) Download pdf undefined BUYER GUIDE image5