Tuesday, 18 October 2011

How to perform well while buying a property in Dubai

In couple of years, the government of Dubai has issued the statement of ownership for the international investors in some selected areas. As a result, a lot of investors, from different nationalities are rushing towards the Dubai to buy property in Dubai.

For many reasons most of the international players are not able to buy Dubai properties at reasonable prices. This is because of some mistakes which the buyers do when they are buying any property. Buying a property in a market like Dubai is again a complicated task mostly for the foreigners. So this task needs special attention if it has to be done effectively.

Here are some mistakes which the international buyers usually do in the property market of Dubai. Just go through and try to avoid these mistakes.

Searching a property without an agent

Many buyers try to purchase the properties by their own. They want to save the amount which an agent is paid after having the deal. It's like wondering here and there, wasting your time. Some times many buyers pay a lot more then he agent's fee while moving here and there, meetings with sellers and other activities which are random.

It's better to catch an agent and handover the task after briefing about some basics.

Outdated data

Before deciding on which type of property you want to buy, it's important to have an updated data regarding the properties available in market for sale. You can go thorough internet and also can ask from any a gent to provide you updated data. Property market in Dubai is always in the development phase and different properties are being added each moment.

In case of updated data, you would be able to know those properties which are offered fort he first time through the primary market. The prices of these properties are much less then those which are resold through the secondary markets.

Bidding without any research

If you haven't sufficient information regarding the prices of the properties and how to act in bidding in Dubai, you could lose a lot of your money. Among the prevailing market conditions, a good agent can provide you with the most of the data.


Unable to identify your needs

Try to identify what you are looking for. Consider what you which place you prefer, which facilities should be in your property or which standard.

Uncertain happenings

Be sure that the property you are buying is free of any debt or any agreement of rent. In some cases, the property owners sell out such rental properties which are charged before. In this case you are not able to get the rent amount for the period which is charged.

Maintenance

Try to visit the property before signing the deal. This would make you know what the current condition of the property is. In many cases, sellers show videos and pictures of the property which could be outdated. If there are such areas which need maintenance, you can ask an expert to tell you an appropriate amount of the repairs. This would able you to set a low price as compared to the offered price.

If you are in the Dubai market for the first time or for the second time, what you need is to get a brief regarding the current market situation, the properties offered for sale and regarding the top agents in the market.

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