The Importance of Conveyancing Services in the Secondary Market Sales Transaction in Dubai

 

March 21, 2023

Written by: Dalia Mazin 

Head of Contracts & Compliance 

[email protected] – Fam Properties

www.famconveyancing.com 

 

Dubai is home to one of the most vibrant real estate markets in the world, with a number of factors contributing to its popularity. These include the city's strategic location, its cosmopolitan outlook, and its world-class infrastructure. With such a thriving property market, it is no surprise that many investors are attracted to buying and selling properties in Dubai. However, navigating the complexities of a real estate transaction in Dubai can be overwhelming, especially for those who are not familiar with the local laws and regulations.

This is where sales progression and conveyancing services come in. These services play an essential role in ensuring that a property transaction is smooth, efficient, stress-free and legally compliant. A conveyancer is a legal professional who specializes in property transactions and can provide a range of services to both buyers and sellers.

One of the key benefits of using a conveyancer is that they can provide legal support to both parties throughout the transaction. This includes drafting contracts and its addendums and ensuring that they are in compliance with the rules and regulations of the Dubai Land Department and RERA. This is particularly important in Dubai, where the legal framework for real estate transactions is quite complex and can be difficult for non-experts to navigate.

The Sales Progression Officer or Conveyancer is proficient in liaising on a daily basis with Banks, Property Developers as well as the Dubai Land Department. They have extensive knowledge of the procedure for any transaction case. Whether it's finance or cash based you can be assured professionals are handling your transfer.

Both buyers and sellers benefit hugely from Conveyancing services. The Conveyancers at Fam Properties will guide you throughout the entire process of the transfer along with fulfilling all requirements needed to be completed after the transfer. The Conveyancers will assist Sellers with: Discharge of your Mortgage, Discharge of utilities, No Objection Certificate (NOC), In-Depth Financial Statements Transfer at the Trustee Office. Also the Conveyancers will assist Buyers with: Applying for a Mortgage, No Objection Certificate (NOC), Detailed Financial Statements, Transfer at the Trustee Office and Connecting Utilities.

Additionally, conveyancers at Fam properties can assist all property investors with additional services such as applying for the 10-year Golden Visa, the 2-year investor's visa and also the 5 years retirement visa, which allows them to stay in the UAE for a longer period of time and enjoy a range of benefits, such as opening bank accounts, obtaining car driving licenses and many more other benefits. They can also help investors sponsor their families (parents, spouse or children) to enjoy the Golden and Investor’s visa.

Conveyancers also provide Power of Attorney services and can represent both sellers and buyers in a transaction. This is particularly useful for investors who may not be able to be physically present in Dubai during the transaction process.

Another important service that conveyancers provide is handling escrow services for both buyers and sellers in partnership with licensed companies in UAE. This helps to ensure that the transaction is secure and that all parties are protected.

In addition to these services, conveyancers can also conduct property gifting for individuals, company and inheritance in Dubai Land Department. This is especially important for investors who may need to transfer ownership of their properties partially or fully to family members or business partners.

Moreover, conveyancers can support buyers and sellers in litigation claims with the appointed law firm. In cases where one party defaults on a contract, it can result in legal action and a need for compensation. A conveyancer can work alongside a law firm to provide support in such cases. They can assist with the preparation and review of legal documents related to the transaction, advise on compliance with relevant laws and regulations, and help to ensure that the settlement process is smooth and efficient. In addition, they can also provide guidance on how to approach the dispute resolution process. 

Finally, conveyancers can also provide Notary Office services for their clients in partnership with licensed companies. This includes drafting and attesting Eviction Notices to Tenants, Registration of Will for Non-Muslims in Dubai Courts, and drafting & attesting Memorandum of Association for new established companies. These services are essential for investors who want to ensure that their property transactions are legally compliant and protected.

In conclusion, sales progression and conveyancing services play a critical role in the secondary market sales transaction in Dubai. They provide essential legal support, ensure compliance with local laws and regulations, and help investors navigate the complexities of the real estate market. With such a competitive and dynamic property market, having a trusted conveyancer on your side can make all the difference.

Our expertise will be guiding you through the entire process of all conducted services, from assessing your eligibility to ensuring that you have all your documentation in place and all the way up to gaining approvals from the authorities in the Dubai Land Department. 

For more information, please contact us to learn more about all our services. Call us at +97143691704 or drop an email at [email protected] to get your queries answered in no time. Additionally, you can visit our website www.famconveyancing.com to check our services. 



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