I. Introduction Dubai’s real estate market is known to be one of the most active and diverse in the world, with many investors and home buyers looking to acquire properties. In Dubai, mortgages are one of the most popular financing options for purchasing property, providing individuals and businesses with the necessary funds to purchase a
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As it is known that to get a mortgage in UAE it is important to have a good credit score. The applicants with low credit scores would be rejected. But there are a few measures to increase the credit score which are mentioned below. Clearing Existing Dues: Clearing all the existing loans will help in
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There are several processes in getting a mortgage and as mentioned below, Pre-Approval: Pre-approval for a home mortgage is advisable before looking for a property. This indicates that you are a serious buyer, which gives you the advantage of purchasing a property in the competitive housing market. This gives you peace of mind in purchasing
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Real estate is a highly attractive, coveted, and unfamiliar investment for most investors. It is widely accepted that a good real estate investment would bring a huge ROI, but until recently relatively few investors had the chance to acquire first-hand experience with the asset class. Real estate can be a complex investment even though it
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When buying a property, it is well known what is associated with homeownership such as closing fees and utility payments, but the knowledge of the property tax is not well known. Property taxes are unavoidable while owning a home. Below is the information on the property taxes. What are Property Taxes? The owner of a
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Buying a new home is always a big undertaking, and the current seller’s market can make the process even more challenging. With limited inventory and frequent bidding wars, buyers can feel a natural uncertainty in landing the house they want. Selling your current home before finding your next one can be even more stressful since
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While buying, selling, or refinancing a property there will be lots of information, paperwork, communication, and transaction. In case the process is overwhelming and unfortunately, there are individuals who would try to take advantage of the situation in real estate transactions. Below are a few common real estate scams that should be avoided. Wire Fraud
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What should be done: Make finances in order: It is compulsory to make sure that the document is thorough, accurate, and complete to get a loan. The mortgage paperwork varies, but it has Loan application Financial verification documents: W2, pay stubs, tax returns, alimony, or child support documents. Assets and the debt documentation: bank statements,
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The Appreciation of a home is an important factor that has to be considered when buying a home as the value of the home increases over time at a steady pace. There are a number of factors that contributes to the increase in appreciation except the few that are out of control. The few that
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It is possible to get a mortgage in UAE for non-residents through a specific procedure and it is required to produce the necessary documents. To get a mortgage for purchasing a property in Dubai or an off-plan property that is already purchased and needs the mortgage for the final developer handover payment, or already
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