Banke International Properties

"Guiding you every step of the way, we empower you to navigate the property market and secure your dream home with confidence and ease"

Buyer’s Guide

Our comprehensive buyer’s guide is designed to streamline your property purchase journey. It offers step-by-step insights to help you navigate the process smoothly, ensuring you’re well-prepared for every stage of buying your ideal property. From initial inquiries to final signatures, we make sure you’re fully informed and confident in your decisions.

Assess Your Financial Readiness

Before initiating your property search:

  • Budgeting: Consider the following costs

     

    • Down Payment:Minimum 20-25% for mortgaged properties
    • Dubai Land Department (DLD) Transfer Fee: 4% of the property value
    • Agency Commission: Typically 2% of the purchase price
    • Trustee Fee: AED 2,000–5,250, depending on property valuw
    • Mortgage Registration Fee: 0.25% of the loan amount (if applicable)
    • Property Valuation Fee: AED 2,500–3,500 + 5% VAT (if applicable)
    • Mortgage Pre-Approval: If financing, obtain a pre-approval letter from a bank to determine your borrowing capacity

Engage a Trusted Real Estate Consultant

Partner with a RERA-qualified consultant from Banke to

  • Discuss your budget, preferences, and requirements 
  • Sign a Form B contract, authorizing the agent to represent you in negotiations

Explore and Shortlist Properties

With your consultant:

  • Property Viewings:Schedule visits to shortlisted properties to assess their suitability
  • Community Insights:Gain knowledge about different neighborhoods, amenities, and future developments

Make an Informed Offer

Once you’ve identified a suitable property:

  • Offer Submission: Present a written offer accompanied by
    A 10% deposit cheque 
  • Copies of your passport and Emirates ID
  • Negotiation: Your Banke consultant will facilitate discussions to reach a mutually agreeable price

Set Up Utilities and Move In

Upon offer acceptance:

  • Memorandum of Understanding (MOU): Also known as Form F, this legally binding document outlines the terms of the sale.
  • Deposit Submission: Provide the 10% deposit cheque as stipulated in the MOU

Navigate the Sales Progression

Depending on the property’s status:

  • Mortgage Processing: If you’re financing, the bank will conduct a property valuation and issue a final offer letter
  • Seller’s Mortgage Settlement: If the seller has an existing mortgage, it must be cleared before proceeding
  • No Objection Certificate (NOC): Apply for an NOC from the developer, confirming all dues are settled

Complete the Transfer of Ownership

Finalize the purchase by:

  • DLD Appointment: Attend the Dubai Land Department to transfer ownership

  • Payment: Provide manager’s cheques for 
  • The property’s purchase price -DLD transfer fee (4% of property value) 
  • Trustee fee (as applicable)
  • Title Deed Issuance: Receive the official title deed in your name

Post-Purchase Considerations

After acquiring your property:

  • Utility Connections: Set up DEWA (Dubai Electricity and Water Authority) and other necessary services
  • Service Charges: Be aware of annual maintenance fees applicable to your property
  • Property Management: Consider Banke’s property management services for tenant sourcing, rent collection, and maintenance

"Empowering your property journey—navigating every step towards your dream home"

Our comprehensive buyer’s guide is designed to streamline your property purchase journey. It offers step-by-step insights to help you navigate the process smoothly, ensuring you’re well-prepared for every stage of buying your ideal property. From initial inquiries to final signatures, we make sure you’re fully informed and confident in your decisions.

Assess Your Financial Readiness

Before initiating your property search:

  • Budgeting: Consider the following costs
    • Down Payment:Minimum 20-25% for mortgaged properties
    • Dubai Land Department (DLD) Transfer Fee: 4% of the property value
    • Agency Commission: Typically 2% of the purchase price
    • Trustee Fee: AED 2,000–5,250, depending on property value
    • Mortgage Registration Fee: 0.25% of the loan amount (if applicable)
    • Property Valuation Fee: AED 2,500–3,500 + 5% VAT (if applicable)
    • Mortgage Pre-Approval: If financing, obtain a pre-approval letter from a bank to determine your borrowing capacity

Engage a Trusted Real Estate Consultant

Partner with a RERA-qualified consultant from Banke to

  • Discuss your budget, preferences, and requirements 
  • Sign a Form B contract, authorizing the agent to represent you in negotiations

Explore and Shortlist Properties

With your consultant:

  • Property Viewings:Schedule visits to shortlisted properties to assess their suitability
  • Community Insights:Gain knowledge about different neighborhoods, amenities, and future developments

Make an Informed Offer

Once you’ve identified a suitable property:

  • Offer Submission: Present a written offer accompanied by
    A 10% deposit cheque 
  • Copies of your passport and Emirates ID
  • Negotiation: Your Banke consultant will facilitate discussions to reach a mutually agreeable price

Set Up Utilities and Move In

Upon offer acceptance:

  • Memorandum of Understanding (MOU): Also known as Form F, this legally binding document outlines the terms of the sale.
  • Deposit Submission: Provide the 10% deposit cheque as stipulated in the MOU

Navigate the Sales Progression

Depending on the property’s status:

  • Mortgage Processing: If you’re financing, the bank will conduct a property valuation and issue a final offer letter
  • Seller’s Mortgage Settlement: If the seller has an existing mortgage, it must be cleared before proceeding
  • No Objection Certificate (NOC): Apply for an NOC from the developer, confirming all dues are settled

Complete the Transfer of Ownership

Finalize the purchase by:

  • DLD Appointment: Attend the Dubai Land Department to transfer ownership

     

  • Payment: Provide manager’s cheques for 
  • The property’s purchase price -DLD transfer fee (4% of property value) 
  • Trustee fee (as applicable)
  • Title Deed Issuance: Receive the official title deed in your name

Post-Purchase Considerations

After acquiring your property:

  • Utility Connections: Set up DEWA (Dubai Electricity and Water Authority) and other necessary services
  • Service Charges: Be aware of annual maintenance fees applicable to your property
  • Property Management: Consider Banke’s property management services for tenant sourcing, rent collection, and maintenance
Banke International Properties

Follow Us

Facebook Instagram X-twitter Linkedin Youtube

Explore

Quick Links

Need Help?

Banke International Properties

Contact Us

Facebook Instagram X-twitter Linkedin Youtube