Purchasing a property on the resale market involves a different set of considerations compared to buying directly from a developer. Here's a detailed guide to assist you:
Price and Investment Returns:
- Compare prices with similar properties.
- Check SOLD and RENTED prices in the project via DXBinteract.
- Evaluate annual service charges.
- Factor in the entire acquisition cost.
Property Quality:
- Assess the quality of common areas and facilities.
- Conduct an engineered snagging and inspection report.
- Read Google reviews on the property or project.
Choosing the Right Advisor:
- Select a reputable company.
- Ensure the agent specializes in your area of interest.
- Verify the agent’s data-driven approach.
- Read reviews on the agency and agent.
Property Visit:
A physical inspection of the property is crucial for gaining a comprehensive understanding of its features, potential, and any necessary renovations.
Detailed Inquiry:
Get all questions answered by the real estate agent and maintain a record of all discussions related to the property via email.
Purchase Process:
- Obtain a clear email from the agency outlining the steps to finalize the purchase.
- Place a reasonable offer based on market research and agent information.
- If rejected, ask for a counteroffer.
Proceeding with Purchase:
- If the counteroffer is within the market price, proceed with the transaction.
- Understand all associated current and future costs, including service charges and agency fees.
Contract Review:
Thoroughly read the sales contract to understand your obligations and rights.
Ready to Navigate the Dubai Resale Market? We're here to help. Visit fäm Properties to get expert guidance.
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