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The Conveyancing Process Explained: What Buyers and Sellers Need to Know

  • Better Informed
  • 18 Mar, 2024
  • 3 min read
The Conveyancing Process Explained: What Buyers and Sellers Need to Know

Buying and selling a property is not an easy process, especially in a city like Dubai. In this process, there are always a few things that take time and require concentration from both sellers and buyers. If not handled correctly, the whole buying and selling process can be at risk. When selling or buying a property in Dubai, several steps must be followed. For that purpose, you need someone trained and experienced on your side who can deal with government bodies, lenders, and developers and handle all the necessary procedures, requirements, processes, and policies. This is where a conveyancer comes in. But what exactly is conveyancing, and how does the conveyancing process work? Let's uncover in this blog.

What is Conveyancing?

Conveyancing is the process of legally transferring property from one person to another. There are two stages involved in this process. The first stage is when both parties sign the contract, and the deal becomes final. The second stage is when the transfer of the property from one person to another is complete, and the buyer legally becomes the owner. 

The legal matters involved in conveyancing, such as various financial and administrative duties, are complex tasks that require careful handling. So, the right conveyancer will help you avoid the pitfalls and potential risks in this process. Hiring a conveyancer in Dubai is extremely important to understand the real estate market and get the right advice throughout the process.

What are The Responsibilities of A Conveyancer?

The major responsibility of a conveyancer is to oversee the property transfer process. Most home buyers and sellers are unaware of the documentation, work, and details involved in the selling process. Whether you are buying or selling a property, there are many legalities involved, which a conveyancer can help you navigate. The responsibilities of a conveyancer include:

  • Preparation, review, and clarification of the legal documentation, such as power of attorney (POA), memorandum of understanding (MOU), or contract of sale and purchase (SPA).
  • Inspect the property and verify the authenticity and validity of the title deed of the property.
  • Calculate fees and taxes related to property sale and purchase. 
  • Contact the financial institution or bank if the mortgage is on the property.
  • Help buyers apply for a mortgage.
  • Communicate with the Dubai Land Department (DLD) and developers on your behalf to obtain the No Objection Certificate (NOC) for the property transfer.
  • Act as your power of attorney to represent your interests in front of other involved parties. 
  • Handle payments and complete property transfers securely and efficiently.

The Process of Conveyancing

The Process of Conveyancing

The conveyancing process begins with conducting property searches to ensure the property’s title is clear and free of legal complications. The conveyancer will investigate several key areas, like:

Title verification: The seller has legal ownership and the right to sell the property.

Land use and zoning regulations: How the land can be used, including any development restrictions.

Unpaid dues or rates: Check for outstanding utility bills, taxes, or fees.

Litigation or disputes: The property is not part of any ongoing legal matter.

Drafting the Sales Agreement

When the buyer and seller agree on the basic terms and conditions and the property transfer, conveyancing begins. A conveyancer will draft the contract according to the format provided by the Dubai Land Department (DLD), which outlines the conditions of sale, the terms of the deal, the transfer date, and any outstanding particulars. In this part of the process, it is crucial to verify the property and check the rights of both parties to prevent any issues. A conveyancer will outline:

  • Responsibilities of both buyer and seller
  • Sale price and payment terms
  • Important dates such as deposit deadlines and settlement

The agreement is then shared with both parties for review and signature.

After the agreement is signed, the conveyancer prepares and lodges all necessary legal documents on behalf of both parties. This may include:

  • Contract of Sale
  • Transfer of Title
  • Duty forms for tax purposes
  • Identification and compliance documents

Deposit Payment and Trust Handling

At this stage, the buyer is required to make an initial deposit, often around 10% of the purchase price. The conveyancer collects this payment and holds it in a secure trust account until the final settlement is made. It protects the interests of both parties in the event of a breach or cancellation.

Pre-Settlement Checks and Due Diligence

Before finalising the transaction, the conveyancer conducts a last round of due diligence to ensure all conditions of the contract are satisfied. At this stage, a conveyancer ensures:

  • The buyer has secured financing or mortgage approval.
  • The seller has paid off all outstanding bills and obligations.
  • No changes have occurred in the property’s legal status.
  • Reviewing the final settlement statement, which outlines the financial breakdown of the transaction.

Transfer of Ownership and Registration

On the settlement day, the conveyancer coordinates with the seller’s representative, the buyer’s bank, and the DLD office to:

  • Submit all final documents to transfer the legal ownership to the buyer.
  • Ensure stamp duty and other government fees are paid.
  • Officially register the buyer as the new owner in the land title records.

Final Settlement and Completion

After the ownership has been successfully transferred and registered, the purchase funds held in the trust account are released to the seller. The buyer receives all final documents, including the Title Deed, stamped contracts, and any certificates of ownership. The conveyancer ensures that all parties receive confirmation of settlement and that records are safely filed. This marks the completion of the conveyancing process, with the buyer now officially and legally in possession of the property.

The property transfer in Dubai can take up to 10 weeks. You cannot do anything to speed up the process. But if you have all the necessary documents in place, a ready pre-approval mortgage, and an expert conveyancer on your side, it will save you a valuable amount of time.

Benefits of Hiring a Conveyancer in Dubai

Below are some of the benefits of hiring a conveyancer in Dubai:

  • A conveyancer avoids legal issues and penalties because they are familiar with the Dubai Land Department (DLD) and RERA regulations.
  • They are aware of the legal documentation and submit all paperwork to the relevant authorities correctly and on time.
  • They help prevent fraud and financial loss by managing buyer deposits and seller payments through secure trust accounts.
  • A conveyancer deals with DLD, developers, banks, and utility providers (e.g., DEWA), which saves you a lot of time and effort.

Conclusion

Hiring a conveyancer in Dubai is a smart decision that saves you time, reduces risk, and protects your investment. A qualified conveyancer ensures that every legal step is handled with expertise and care. We can say that they are crucial players in selling and buying a property as they make the process cost-effective and free of legal issues.

At Betterhomes, we provide fast and transparent conveyancing services in Dubai. Let our expert conveyancers take care of all the legal paperwork, government approvals, and title transfers so you can focus on moving in or closing the deal with peace of mind. Contact us today for a free quote and expert guidance.

Schedule a call with a conveyancer
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Frequently Asked Questions

What is the fee for a conveyancer in Dubai?

The average conveyancer fee in Dubai ranges between AED 5,000 and AED 15,000.

How long does conveyancing take?

Conveyancing usually takes about 8 to 12 weeks. In some cases, it can be as quick as 4 weeks or take up to 6 months, depending on the situation. On average, it takes around 12 weeks to complete the process once a buyer's offer is accepted. Things like waiting for mortgage approval, doing property checks, or dealing with complicated legal issues can make the process longer.

Are conveyancing fees percentage-based or fixed?

Conveyancing fees are fixed and pre-determined.

Is the conveyancing fee refundable?

Conveyancing fees are usually non-refundable unless you and your conveyancer sign a non-deal, no-fee contract.

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