Buy Flats in Dubai Creek Harbour: A-Z of Plans and Contracts for Real Estate
Jul 18, 2023
You are welcome to the comprehensive guide for those who intend to buy flats in Dubai Creek Harbour. It is important to state a brief recap of the aim and objectives of this blog post:
The aim of this blog post is to discuss buying flats in Dubai Creek Harbour and the best steps to take when in search of a property.
The Objectives of this article are as follows:
- A step-by-step guide on how to discover flats for sale
- Contract skills and knowledge for beginners
- Factors affecting property sales and exchange
A Step-by-Step Guide on How to Discover Flats for Sale
Getting a property could be both easy and stressful. Which side you will experience will depend on the steps you take and how exposed you are towards using the software tools and facilities. Here’s a brief rundown:
When you need to buy a property, you can decide to walk from one block to another in search of the units you like. This method may even lead to frustration as you may likely encounter many declines. Imagine visiting 20 houses and only finding five vacant units, which are then not up to your taste. You may end up settling for far less than you want out of frustration, or you may have poor motivation towards finding the best for you. This manual search method could be exhausting, not to mention that it is slow and may not help you get properties as soon as you need them.
The second method is the direct opposite of the manual or physical method; it is the method of searching online and accessing a whole library of real estate units in Dubai Creek Harbour and even beyond. Read more on the official website https://emirates.estate/. It is arguable that this latter type also requires a word of caution; this is because buying or renting a property wholly online is also unwise because you may not be able to assess the full state of the property through virtual images or videos or even an online tour.
Take Home Tip
Use a combination of online and real-life methods. Use online tools to find the best property offerings and choose a set that appeals to you. Then note the properties that look good to you, and prepare a real-life tour before you proceed to the next steps (That is, the contract stage). Using this method ensures that you avoid the burnout of a manual search while also acting smart and preserving your hard-earned money.
Contract Skills and Knowledge for Beginners
After a physical tour, the next stage is the contract stage. The contract stage is as critical, if not the most critical of all, because it involves the final sealing of the agreement and may give you sufficient strength and grace in the agreement or put you in a vulnerable state in all of the agreement. It is pertinent to add that you need not be a lawyer to know these basic information and tips about contracts. They are easy to learn, but they may save you a great deal of trouble if you know them. Below is some information for you:
- Clarity Over Assumption
The issue with contracts is that they are legally binding and recognised by the law. Contracting is one power that the state gives unto you as a person to make your law. It would be best if you kept in mind that whatever law you make, you will not be allowed to go back on it. It binds you. So, by all means, make sure that the terms are clear, understood and unambiguous. Please, even if you are contracting with your family member whom you trust, never assume that a certain state of facts exists. Do not assume the rent or the payment modes. Be clear about them, discuss them and have all crooked corners straightened because things can go south pretty much faster than you can imagine.
- Have your contract witnessed
Usually, contracts and legal agreements have a place for a witness to sign. Especially when it is an important contract involving much capital, if there is no provision for witnessing, you should request that it should be added. Doing so will add a human face to your agreement and have a third-party witness should there be a need in the future. It further solidifies the standing of both parties to the contract and preserves their interests better.
- If it is not in writing, you are playing
Whatever is not in writing is not agreed upon. People can switch on you before you know it; in the best-case scenario, the mind is fleeting and easily forgetful. The problem with that is that in between that forgetfulness are millions and delicate interests. So, to be on the best scale, have it all written out for you. Make the term clear and correctly represented.
A final note
On a final note, a critical tip would be to have any strange clauses and terms reviewed by your lawyer. At the sound of lawyers, people tend to consider the cost and how much they are likely to spend securing a lawyer’s services. Indeed, you may have spent a lot in the course of searching for the property, up until the contract stage, and you may even be financially exhausted, but the money you will spend on a lawyer’s legal opinion may seem like an extra cost, but it is actually a saving cost because when issues begin to come up, it could have dire consequences or even lead to the complete loss of capital. Always remember that it is better to be safe than to be sorry. Fortify your interest from the very start.