Because of the relative stability it provides, Dubai is often referred to as a “attraction” for business owners and financiers. The city of gold, as it is often called, also provides them with a wealth of options. The abundance of conveniences and comforts in this area is also attracting more individuals to make it their permanent home. This is seen by the proliferation of high-rise, contemporary-style housing complexes equipped with cutting-edge amenities around Dubai. The number of property scams and frauds in Dubai has grown in tandem with the city's skyrocketing real estate prices. While inexperienced buyers and sellers are more likely to fall prey to these scams, even seasoned pros sometimes fall for them and wind up losing a lot of money.
Experience is essential for reducing the likelihood of falling victim to such cons. If you read the helpful advice provided below, you won't fall prey to these frauds.
Working Solely with Registered Agents
Make sure you are only working with licensed agents when buying or selling property in Dubai. Avoid working with any real estate agent in Dubai who isn't licensed by the city's Land Department. Inquire about the broker's identification card from the agent you're talking to. Don't go forward until you've confirmed their information. This measure might assist ensure that you are safe from Dubai's property frauds and scams.
Make Payments using Checks
Never make a payment with cash. Always use a check whenever possible. This manner, if there is a fraud, the information may be tracked and the chances, albeit low, of catching the scammer are increased.
Make Your Agreement Official
Having the contract notarized greatly reduces the possibility of fraud or deception. Be sure to follow this procedure consistently. Whether you're a buyer, a seller, a renter, or a landlord, you must do so. It safeguards the interests of all parties.
Make Sure You Look at the Listings
Verify the agent's listings and deals thoroughly before engaging them. Scammers often make little to no attempt to conceal their identities. They scrape listings from competing real estate websites and present them as their own. The only difference is the new contact information; everything else remains the same.
Check the dealer's legitimacy by looking up the similar properties on the websites of other real estate firms. There is a good possibility they are perpetrating a hoax if they have duplicated specifics word for word.
Check the Seller
If you're serious about making a purchase, check the seller's credentials thoroughly. Check their credentials to make sure they can sell the property lawfully. In addition, you should check to see whether the property has any outstanding obligations. You can confirm ownership of the property and any outstanding obligations by looking at the deed and the NOC. If the seller is unable to accommodate these conditions, you should not proceed with the transaction.
Conclusion
It is advised to use utmost caution while purchasing or selling real estate in Dubai or anywhere else in the United Arab Emirates. Only work with reputable real estate agencies to drastically cut your risk. Dxb off plan has the most reliable listings in Dubai and the rest of the UAE.
