Process of buying Elite Residence 5?

Discussion in 'Dubai property' started by shafzzzz, Mar 10, 2014.

  1. shafzzzz

    shafzzzz New Member

    Hi,
    Elite residence 5 in Dubai Sports City is due for handover within a month. I am getting mixed responses from real estate agents.

    Few say that since the developer is not allowing transfer of property before handover, i will have to make the payment in full to the buyer and wait for the transfer to happen.

    Few say that is a safe transaction as a MOU will be signed and that is a legal and a safe transaction and a document which then can be used to apply for the title deed.

    I will really appreciate if anyone has any info about the process of sale transaction for properties that have yet not been handed over.

    Thanks!
     
  2. shafzzzz

    shafzzzz New Member

    The few people i mentioned are actually the few real estate agents that gave me their opinion and its kind of a split opinion.
     
  3. Veronica

    Veronica Administrator

    If you are getting mixed messages from different agents my advice is to believe the worst case scenario. Many unscrupulous agents only care about making a sale and don't care about whether they are leading clients into problems.
     
  4. propdealer

    propdealer New Member

    Came across this company at Times Square Mall - they handle transfers at a reasonable rate, seems good...Name: itrustuae
     
  5. doons124

    doons124 New Member

    Your safest and best option is to make all the final payments if you are able. Then sell the unit once you get possession from the developer.

    Signing MOUs for future transfers is not 100% foolproof.
     
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