Is it the right way to buy a property at resale

Discussion in 'Dubai property' started by depassage298, Sep 14, 2012.

  1. depassage298

    depassage298 New Member

    Dear All,

    I am willing to buy an apartment in Dubai which is already completed.
    However the current owner needs to pay the balance amount in order to get the keys.
    Since the current owner doesn't have the money to pay the balance, he wants to sell it to me.

    The agent is telling me to follow these steps:
    1. the first step is for the owner to make the handover payment,
    2. then they will register the apartment at the Land Department under the current owner first.
    3. Once the Title Deed is received under the Seller’s name, Developer will issue the NOC to transfer the property under your name. It will take approx 3 weeks as per Developer people before we will get the Title Deed.
    4. Since the Seller cannot wait till that time nor may be yourself. So the seller will then give you the POA in order to complete everything at a later stage against payment to her & Developer.

    I clearly don't understand the above


    Why not we follow these steps:

    1. I pay the seller his due amount and both parties sign the Ownership Transfer of the Property at Developer's Office
    2. Once the property is transferred under my name, I clear the balance of the payment to the Developer
    3. Finally, I wait for the Title Deed to be issued


    Is there someone here who can guide me????
     
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