What are the additional costs when purchasing a freehold property? NOC Charges Transfer charges Brokerage fees Mortgage registration charges and trustee office fees
What are the charges for issuing a contract? Administration Fees ( as applicable) Security Deposit-average one month’s rent In the event the property is furnished the security deposit will be higher than normal Ejari Fee paid by the tenant in Dubai/ Tawtheeq fee paid by tenant in Abu Dhabi
What are the documents required when purchasing a freehold property from secondary market? Listing form signed by the buyer agreeing on budget and fees etc. Passport Copy + Visa Page Copy of Emirates ID MOU ( memorandum of understanding) to be executed by the seller and the buyer Pre-approval from the bank ( if financing applies)
When renting a property through MPM, how long is the offer letter valid for? Personal Contracts – 3 days, Governmental Contracts – 7 days.
What are the documents required for renting a property? If it is a Personal Contract? Passport copy + visa + emirates ID ( for tenant and spouse ) Marriage certificate Salary certificate or 3 month bank statement If it is a Government Contract? Passport copy + visa + emirates ID If it is a Company Contract? Trade license/ NOC from employer Occupants passport copy / marriage certificate Authorized signatory passport copy + visa + emirates ID Power of attorney ( if applicable )
