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Real Estate Due Diligence in Dubai

Real Estate Due Diligence in Dubai

Updated on Tuesday 19th April 2016

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Individuals who want to purchase a property in Dubai are advised to perform a real estate due diligence process before securing the purchase. This can be done voluntarily by the buyer in order to make sure that the property is objectively evaluated and the decision to make the purchase is an informed one.

Our lawyers in Dubai can perform a complete and thorough investigation on your desired commercial or residential real estate property. 

Purchasing a property in Dubai

Investors in Dubai purchase real estate for personal use, to serve as the company’s headquarters or for renting. Alternatively, real estate investors purchase properties that can be sold after they have been renovated or they can be re-purposed altogether. Apartments or houses are generally purchased for personal use, commercial properties - for business purposes and other residential properties can be bought for subsequent lease and profit.

Foreign investors in Dubai are allowed to purchase many types of properties, either for personal or business use. Our Dubai lawyers can assist you throughout the entire purchase, which starts with the negotiation and verbal agreement with the seller and concludes with signing the final purchase documents.

The property due diligence process in Dubai

Our lawyers in Dubai will help in real estate purchases and they can assist you during the entire purchase. Together with our agents, you will be able to draft the acquisition documents and conclude the final purchase agreement. We will see if the purchase price is the correct one and it is in line with the current prices on the market. Our attorneys in Dubai can also help you obtain information about zone matters, verify leases and entitlements made in the seller’s name in the past.

During the real estate due diligence process, our Dubai attorneys will help you with a physical property inspection and review that can cover areas such as seismic inspection, electrical, mechanical and structural inspection.

Real estate due diligence with the Land Register in Dubai

No matter the type of property you want to buy in Dubai, there are several procedures that can be used in order to determine if the real estate is the best option. The only institution offering information about a Dubai residential and commercial properties in the Land Register. However, in the case of all transactions related to real estate, the search can be conducted only with the consent of the owner. The Land Registry offers the following information:

  • -       whether the property is subject to encumbrances, such as mortgages;
  • -       the property is not subject to third-party claims;
  • -       the property does not belong to governmental agencies and can be sold;
  • -       there are no debts related to the real estate in question.

Please feel free to contact our law firm in Dubai for more information about real estate purchase and due diligence procedures.

 

 

 

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