When carrying out transactions for purchase and sale of residential and commercial real estate in Dubai, the United Arab Emirates, the purchaser may face many challenges that shall be addressed by relevant qualified professionals.
When purchasing real estate, the essence of such matters may differ significantly depending on type and size of the property.
For instance, when purchasing a private villa, the issues arising in the course of the transaction and documents required for carrying out legal due diligence of the transaction is much less than, for example, when purchasing fully operational hotel. Furthermore, purchase of the operational hotel is not just acquisition of property, but also purchase of business with full range of associated issues. At the same time, when purchasing a hotel or other business property, you are assigned not only rights but also obligations. For this reason, proper due diligence and qualified legal support of the transaction is essential requirement.
Certain issues arise when purchasing free hold properties - obtaining the proof of ownership by the seller, absence of any encumbrance or rights of third parties, inspection of technical condition of the object, etc.
Our experts are ready to provide all required assistance and support.
In case of purchase of residential property we offer initial verification of documents on property, obtaining all necessary missing documents, assistance in drafting sale and purchase contract and transfer of property rights and completion of transfer.
In addition, the objects under construction may entail verification of reliability of the developer. Accordingly, in such case detailed check of all terms and conditions of the contract with the developer may be required.
For commercial property, in addition to verification of the property, we also carry out full verification of the business - availability of licenses, financial data, contracts with suppliers and sub-contractors, hire sub-contractors for conducting technical expertise of buildings and facilities, etc.
Upon completion of registration process the issue relating to transfer of property to management company may arise. A number of issues in this respect shall be addresses accordingly – to which extent the powers can be given to a management company without incurring potential risks and how to protect to the maximum extent against unauthorized actions of such company.
As for the issues stated above, our company offers full support - from initial verification of documents to completion of the transaction and further regular support.
