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ASK THE AGENT in U, AE

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Location: U, AE
Category: Property Services - Facilities Management
Posted: 22-10-2016
Contact: 050-1597171

Details

ASK THE AGENTSanaz RegiClient Manager, SPFCan you please share the key insights when choosing the right property developer and project in Dubai?Itis actually very simple. All you need to do is consider the following:Track record - Do your research and find out what the developer has already delivered. Physically see it if possible. Visit their sales office and see any scale models or project community depictions.Feedback - Research about the buyers of previous projects. How satisfied are they with their purchase/investment? How is the service and maintenance after handover? Is there a demand for the handed-over project in the secondary market? Gauge if the developer has a decent market presence.Financial factor - Is the payment plan a suitable one? Are there any mortgage options or tie ups with banks? Is the price per square foot reasonable? Will the property generate a good ROI? Is there room for price appreciation?The unit I am buying is mortgaged. I don't feel safe paying for the seller's mortgage. What should I do?There is a regular process for the buyer to settle the seller's mortgage and deduct the advance payment made from the final sale proceeds. The mortgage settlement will occur prior to the change of ownership.Therefore, to safeguard the interest of the buyer, there is an option to block the property. This means that the seller is not allowed to sell the property to anyone other than the buyer who has cleared the outstanding mortgage.There is a selection of trustee offices that will complete the process. The usual documents required are the title deed, NOC from the developer, liability letter from the bank/developer and MOU sale agreement form, among others. The buyer needs to prepare three manager's cheques under the names of the bank/developer, seller and Dubai Land Department.I just renewed my rent, but my landlord is selling the unit. As per official notice, the contract will be carried over, but the new landlord has the option to evict me with a two months' notice.Eviction has a standard procedure. In your case, the procedure is not followed. Transferring the ownership of a property does not affect the tenant's right to continue to occupy it by virtue of the contract entered into with the previous owner, provided that such contract has a fixed term. Hence, the agreement continues until the end of its term, irrespective of the change of ownership.Another thing is that if you are on time with your payments and have not breached any laws or performed any illegal acts at the rented property, then the landlord must follow what is stipulated by RERA. Itis required that a landlord who wishes to ask his tenant to vacate a property must do so at the time of contract renewal with a 12 months' notice period; hence, evicting someone by giving him a two months' notice is a breach of the law.Do I get a residency visa if I buy a home?Yes, you may apply for a residency visa for yourself and your dependents, provided the property has a value of atleast Dh1 million. This must be for one property only and cannot be the value of two or more properties combined. It is also required that the property is suitable to live in and is not on mortgage. In addition, you need to qualify for the normal Immigration or Naturalisation and Residence Department requirements. The application should be made at the Dubai Economic Department and Dubai Land Department for consideration, and visas are not granted automatically but are subject to caseby-case approval. Applicants need to provide the title deed and a certificate of good conduct from the Dubai Police. In accordance with standard procedures, applicants must clear a medical examination and have a Dubai Health Authority compliant medical insurance. The visa is valid for two years and does not permit an individual to work in the UAE, only to reside here.Question of the WeekMy landlord is looking to evict us as he wants to sell the house. He gave us an" un-notarised notice," expecting us to leave. But I wanted to renew the lease. How would I manage incase the landlord takes this to the court?An "un-notarised notice" has no legal value. A landlord can only evict a tenant for the following reasons:- Where the landlord wishes to demolish the property to reconstruct it, or to add any new constructions that will prevent the tenant fromusing the property- Where the property is in a condition that requires restoration or comprehensive maintenance that cannot be carried out in the presence of the tenant in the property, provided that the condition of the property is verified by a technical report issued by the Dubai Municipality- Where the landlord wishes to take possession of the property for personal use or for use by any of his first-degree relatives, provided that the owner proves that he does not own another property- Where the tenant has committed a breach of tenancy agreement or violation of a law- Where the landlord wishes to sell the leased property In your situation, the last reason applies. The landlord can only evict you once the lease term has expired and a proper notice has been served.Send in your property issue-related questions to be answered by industry experts, mentioning 'Ask the Agent' in the subject line, to: properties@gulfnews.comSPF SIMPLIFYING REALTY SINCE 2006 | WE'VE GOT DUBAI COVERED | 04-3396222 | 050-1597171 | hello@spfrealty.com | www.spfrealty.com

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