procedure of buying an apartment in dubai

[joseph0086]

Hi all, I am new here\

I am actually working in dubai now, just for a couple of months so I am still relatively new. I am interested in buying an apartment for investment here.

But I have no experience in buying an apartment before. So I am wondering the procedure I need to follow, is it like:

(1) contact the agent to view the apartments I am interested

(2) If I am interested in one of them after (1),contact all the banks here just to ask about the interest rate, minimum first installment and mortgage payment for the apartment. Compare the offers by all the banks and then pick the best one for me

(3) sign a temporary contract with the agent and pay some deposit to mean that I am holding the property, then contact the bank and wait for the bank to give me the mortgage deal

(4) show the landlord that I get the deal from the bank, sign the final contract with landlord, pay the agent's fees and get the title deed transfer

is it like that in general?

To sign a contract, do I need to contact a lawyer separately to check for the validity of the contract and stuff like that?

Thanks all and I appreciate all your help.

 

[Lysos]

When considering buying property anywhere you must get independent legal advice (i.e. a lawyer not connected with or recommended by the selling agent or developer) before signing anything.