Do we need a real estate lawyer for buying a house
Your Own Home is one of the nicest thing that crosses your mind quite often, right? There can be many reasons for buying a house in Dubai, warm weather, high standard of living, growing economy and low crime rate are amongst the few. The good news is, after 2002, expatriates can buy, sell and rent property in Dubai without special regulations or permissions. There are two options for potential homeowners in UAE: Freehold, which gives you ownership of the residential unit as well as the land, and Leasehold, in which you do not own the land but you are offered rights to possess the property for time being.
Although there is no legal requirement to hire a real estate lawyer for buying a house in Dubai but following are the advantages of hiring one:
- Perform the title search for you: Hire top lawyers of Dubai to manage your purchases. They will save you from being scammed by unscrupulous conmen posing as real estate agents, sellers, or lenders and false advertising, and will make sure that the house is devoid of any impediments through his search report. He will do all the background checks for you.
- 2. Draft various legal contracts: The real estate lawyer in Dubai will prepare purchase contracts, mortgage agreements and title deeds. He can read between the lines of legal documents and can save you from the hassle of going through all the terms and conditions written in the contract.
- Representation before authorities: The documents drafted have to be presented before relevant authorities like the title deed needs to be put up before Dubai Legal Department(DLD). A real estate lawyer can perform all the procedural work swiftly and efficiently for you. One more advantage of hiring a real estate lawyer is that they will ensure compliance with all the state regulations and laws.
- For smooth transfer: The real estate lawyer makes sure that no corporate and partnership agreement is infringed while making the purchase transaction and will simplify the legal process for smooth transfer of real estate property.
- Seal the deal: when all the procedural requirements are met and documents are made, the real estate lawyer can give proofreading to all the documents and papers involved in the purchase. In case he finds any discrepancy, he would inform the party and make amendments accordingly. Therefore, before sealing the deal, the lawyer would make sure that no loophole is left in the documents by reviewing them before the signature is finally appended.
There are definite legal requirements which the parties have to comply with for making a sale transaction in Dubai like getting pre-approval, drafting of the contracts whose terms have to be crystal clear, documentation including Emirates ID, passport and visa copy, trade license for business owners and salary certificates for salaried employees, bank statements of three to six months.
Buying a house in Dubai involves a lot of paperwork, a real estate lawyer can make the transfer/acquisition of house property seamless and within a stipulated time. At BSB Legal Consultants you will find the best property-dispute lawyers. We are the best legal consultancy firm in Dubai that will provide you with the solid, tailor-made and bespoke legal advice and representation. Moreover, we are ready to assist homebuyers by providing legal services at affordable rates. For consultation contacts us at firstname.lastname@example.org or call us at +97150 8014003.