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The most important thing to do when you start looking for a property to buy is get your budget set.
Have the mortgage advisor to get the bank's preapproval which tells you how much you can spend. Remember you will need a minimum deposit of 25%.
Once you've set your budget find a RERA qualified broker you will sign a Form B contract with your broker to represent you in the upcoming negotiations.
Once you've found a property you love and are ready to make an offer move quickly.
At this stage you will be asked to produce a current dated cheque in the name of the seller as a 10% deposit and a PDC in the name of the brokers company for the commission.
In most cases you will engage the services of a professional conveyancer to assist with the sales process.
Prior to the purchase the seller will need to obtain an NOC from the developer who built the property which will ensure the property is free from any outstanding service charges.
The seller will obtain a liability letter from their bank and you will come to the DLD to "block" the property with four cheques in the name of the seller's bank, the seller, the DLD and the agency.
At the transfer office you will need the cheque of 4% DLD transfer fee and cash for the DLD admin fees. Once the transfer is complete you will receive your new Title Deed and all keys/access cards to your property.
Congratulations. You are now a homeowner! You will need to make sure all utilities are registered under your name.