Last year was quite an unusual one; from Australian fires to the ongoing pandemic, everything unexpected happened. Because of these circumstances, the global economy suffered from massive losses. Things weren’t different in Dubai as well. However, many unusual steps were taken by governments to help their recessing economies. Many companies took advantage of these initiatives for stabilizing their businesses by taking the help of their respective Dubai law firms.
Like every other sector, the real estate market of Dubai also underwent disturbance. But now the situation is changing as the economy is becoming stable again. However, to successfully deal with such unprecedented circumstances, it is important that your contract should be drafted properly. This is why you should engage a well-reputed and renowned real estate lawyer before sealing the deal.
Other than this, there are numerous other reasons why you must hire a lawyer when you’re dealing in the real estate market.
Some of them are:
Preparation of Legal Documents
It’s a known fact that the process of buying a property involves a lot of paperwork and contract preparations. But if you hire a property lawyer, they’ll manage it all on your behalf. Additionally, they will also prepare papers required for a mortgage, lease or instalments.
Title Search
The title search report is essential when you are buying a property. Through this, you can know about any liens, easements or encroachments against the property that you are planning to buy.
With the help of a property lawyer, you can know about the legal standing of the said property and if it’s legally clear, you can proceed ahead and buy it. In addition, your lawyer can also tell you if the owner has the right to sell the property or not.
Taking Care of Legal Formalities
Purchasing a property involves many legal steps that your realtor cannot perform. Thus, it’s important that you take the help of a real estate lawyer as they can guide you far better than realtors. Additionally, they’ll also handle all the legal procedures required for the property purchase.
Hassle-free Transfer of Property
If you hire a real estate legal expert, they’ll make the complicated process of property buying convenient for you. Especially if you’re buying property in the name of your corporation or through a partnership or trust, the buying and transferring process become more complex.
To avoid such troubles, engaging an expert is the best way because they can deal with legal procedures far better than you. Moreover, a property lawyer will also assist you in closing the deal and reviewing all the documents.
Saves You from Potential Scams
Another added benefit of hiring a property lawyer is that the chances of you getting scammed are greatly reduced. When you avail the services of a legal expert, then it is obligatory for them to protect you from potential frauds and scams.
Ensures That the Property is Legit
Buying a property is a huge investment; you need to be extra cautious while purchasing it. Sometimes, in the market, you will find properties at unbelievable prices that seem too good to be true. So, if you’re interested in buying such property but aren’t sure of its legitimacy, your lawyer can help you.
Lawyers are well aware of the property market conditions and know which documents they need to scrutinize in order to know the legal status of a property. Therefore, when you engage a lawyer, the risk factor that comes when buying a cheap property becomes zero, as your lawyer will ensure that the property is legal.
Knows the Zoning Laws
You cannot buy property everywhere in Dubai if you’re an expat. Having a lawyer on board will help in making this zoning process quite easy for you as they can properly guide you where you can buy property.
Moreover, if you want to buy a commercial property, it has to be present in the dedicated commercial zone.
To sum it all, if you want to buy property in a hassle-free way in the UAE, you must engage a real estate lawyer and finding the right one is pretty straightforward. You can easily google a real estate lawyer near me and you’ll be spoiled for choice. Choose the best from the lot and discuss your property-related matters with them.