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Buyer's Guide

Whether you're a seasoned investor or a prospective buyer, we're here to support you every step of the way.
Buying a home is one of the most important financial and personal decisions many of us will make in our lives. Whether or not it’s our first time, we all begin the home-buying journey with a vision, a picture in our minds of a place that looks and feels like our idea of home. At Alben Properties, we are committed to helping you turn that vision into reality.

Sales in Primary Market

1) The client selects a property

 

2) The following information is requested:

  • Client’s passport copy

  • Email

  • Phone number

 

3) The developer sends the client a payment link with a token amount to reserve the unit.

 

4) The developer issues a booking form and provides a payment receipt.

 

5) The buyer is given a grace period to transfer an initial down payment (usually between 10-20% of the property value) to the project's escrow account.

 

6) The buyer is required to make a payment of 4% of the property value as Dubai Land Department (DLD) fee to the developer's bank account.

 

7) After the 20% down payment and 4% DLD fee have been settled, the developer prepares the Sales and Purchase Agreement (SPA) and sends two original copies to the client.

 

8) The buyer is responsible for signing both copies of the SPA and returning them to the developer.

 

9) The developer registers the SPA with the Dubai Land Department, signs both copies, and sends one original copy back to the client.

 

10) Subsequently, the client is required to adhere to the payment plan for the property as per the agreement.

Sales in Secondary Market

1) Once the buyer has identified the desired property,  two brokers are engaged in the transaction: the Seller's Agent and the Buyer's Agent. 

 

2) The Seller's Agent drafts a contract known as FORM A with the seller, while the Buyer's Agent creates a contract called FORM B with the buyer. 

 

3) The transaction price is determined through negotiations between the buyer and seller, facilitated by their respective agents. 

 

4) Once all details are agreed upon, the agents issue FORM F, which serves to bind the buyer, seller, and transaction specifics. Form F will usually expire after 1 month (unless specified otherwise inside the contract), meaning that within 1 month the transaction should be finalized. 

 

5) Buyer should provide a deposit check to the seller’s agent with the amount specified in the contract. 

 

6) All necessary documents that must be gathered are: 

 

From seller’s side: 

  • Original copies of the SPA ( Sales Purchase Agreement ) 

  • NOC from developer ( No objection Certificate )

  • Status of account from developer

  • Identity documents of seller/sellers 

  • If property was purchased as a company, all incorporation documents of the company.  

  • If property was mortgaged, release letter and NOC from the bank. 

 

From buyer’s side:

  • Identity documents of buyer/buyers

  • If property will be purchased as a company, all incorporation documents of the company.  

  • Manager’s check from a UAE bank account with the full amount to be paid to the seller. 

  • Check with the agency commission.

  • If buying through a mortgage, all necessary documents from the bank. 

 

7) Once all the documents are ready, parties involved must convene at the trustee office to close the deal. 

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