First Time Buyer Guide

First Time Buyer Guide

It is difficult to buy a property for the first time in Ajman because it is a complex process. Although Ajman is the best estate for buying or renting properties in UAE. It has become the best estate in UAE for professional investors from all around the world. Still it is difficult for people who are going to buy property over here for the very first time. Here are some suggestions for you if you are going to buy property for the very first time in Ajman.

How to Find Ideal Property?

First thing to find a property that suits your needs and taste. For this purpose you need to do following things:
  • Make a list of locations where you want to buy property.
  • Once you decided the location then search the area on internet and check the properties that are on sell over there.
  • You can also take help from local real estate agent. Tell your requirements to the agent, he will suggest you the property accordingly.
  • Choose a property that suits your budget and taste.

How to Make Offer?

Once you have decided the property for yourself, this is time to make offer. Before making offer you need to consider the following things:
  • Condition of the property, does it require any repairing.
  • Before you make any offer find out what is position of the seller. If his property has been on market for a longer time, he may agree on a lower offer.
  • If he accepts the offer then you can have ownership of the property.

Mortgage Loan

If you have enough savings for buying a property that suits your needs or taste then it is fin. But if you have limited amount of money then you can also take mortgage loan from the bank that is suitable for you. You can also contact mortgage broker in this regard, he can tell you ranges of different mortgage plans.

Exchange of Contracts

After the deal is done the solicitor will start doing legal administrative work and transfer of property. Then you need to agree with sales terms like date of completion and when you can move. After doing this there will be exchange of contracts, and you make a legal deal. Next step is to put down the deposit. You can ask for keys on day of completion and the property is yours.

Conclusion

Not all estates of UAE allow you to have ownership of the property if you are a foreigner. But in Ajman you can have this opportunity. Real estate market Ajman is very strong and a hub of professional investors from all around the world. Properties over there are cheap in price so people can afford them easily but there is no compromise on quality. If you are going to buy a property for the very first time things will be a bit difficult for you, but if you follow a plan and above suggestions then you can successfully have ownership of a property in Ajman.

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