All you need to know about conveyance fees
Looking to buy a property in Dubai? It might be best to get some expert help to complete the deal. The documentation process can be quite a daunting prospect, especially if you are a first-time buyer or an expatriate. To save you the hassle of documentation and completion of the transaction, there are conveyance companies in Dubai that can get the job done on your behalf. Read on as we explain the services they offer, the average conveyancing fees and more.
WHAT IS CONVEYANCING?
In simple terms, conveyancing is transferring of a property from one owner to another. There is no legal requirement to hire a conveyance company in Dubai. Hence, some people may save conveyance fees by doing the work on their own. However, unless you are absolutely certain about the legal procedures and protocols, it is best to seek professional help.
The conveyance fees in Dubai you pay is the cost to ensure there are no errors leading to delays or other problems in your property deal.
A conveyancer’s services can typically include:
- Preparing the draft as well as confirming property transfer documents with both parties, buyer and seller.
- Identify any documentation errors and provide solutions. This may include working on contracts of sale and purchase, powers of attorney and memoranda of understanding (MOU).
- Conclude the paper work for Dubai Land Department and utility companies.
- Calculate fees and taxes associated with the deal.
- Work with banks if the property is being mortgaged.
- Liaise with property developer if required.
- Work to conclude the transfer of the final sale funds as well as the new Title Deeds.
- Handling payment if requested.
CONVEYANCE FEES IN THE UAE
Conveyance fees in Dubai can generally range from AED 5,000 to AED 10,000. Property conveyancing fees depends on a variety of factors, including the company you opt for, the amount of work to be done and more. You have to factor in conveyance fees when calculating fees involved when buying a property.
CONVEYANCE COMPANIES
Here is a list of conveyance companies in Dubai you can consider.
Companies | Contact |
|---|---|
Companies Haus & Haus | Contact +971-4-302-5800 |
Companies Conveyance Domain | Contact +971-4-329-4937 |
Companies Better Homes | Contact +971-60-052-2233 |
Companies McCone Properties | Contact +971-4-380-6683 |
Companies Compton Conveyancing | Contact +971-4-454-9734 |
You can get in touch with these companies to ask for a conveyancing quotation.
FAQS ABOUT CONVEYANCE FEES AND MORE
HOW MUCH CONVEYANCE FEES CAN I EXPECT TO PAY WHEN BUYING A PROPERTY?
As discussed, the average conveyance fee ranges from AED 5,000 to AED 10,000.
WHAT ARE THE COST ASSOCIATED WITH BUYING A PROPERTY IN DUBAI?
Wondering what would be the total investment required to get on the property ladder? Here is a comprehensive look at total cost of buying a property in Dubai including conveyancing costs.
SHOULD I BUY A PROPERTY IN DUBAI?
Unsure if investing in a Dubai property would be a good idea? Here is a look at the pros and cons of buying a property in Dubai.
CAN I BUY A PROPERTY DIRECTLY FROM THE OWNER?
Yes, you can. Here are a few things you should consider when deciding to buy a property directly from the owner.
Conveyance fees in Dubai may seem an extra bit of expense at the outset. However, unless you are well versed in the documentation process and have enough time on your hands, it might be an expense worth bearing. Paying the conveyancing costs can allow you to just focus on moving to your dream home.
