By asking this question, you will be able to distinguish immediately between someone who specializes in the community and someone who does not. Brokers who are not familiar with the communicate will not be able to provide you with an accurate answer. As a result of their lack of knowledge, they will be unable to negotiate effectively, which may result in the deal not going through. As a result, it is essential to deal with with an expert in a specific area in order to obtain the most accurate advice.

The answer to this question will provide you with some insight into the owner’s situation. Although you might not always get an honest response, asking questions can still be beneficial. It’s possible that the seller is in a difficult financial situation and desperately needs to sell the property as soon as possible. Alternatively, there could be an issue with the home itself. It’s possible that, depending on the circumstances, it could leave open for bargaining, which the buyer could use to their advantage.

Always make sure you are aware of how long a property has been on the market before making a purchase decision. If a home has been on the market for a considerable amount of time, this implies that it was initially listed at an excessive price, which is typically the result of an ineffective marketing plan. Because of this, the buyer will have more leeway to bargain with the seller on the price, as the seller may be more motivated and willing to negotiate.

It is common for purchasers to forget to inquire about the service charges associated with the property. Building service charges in Dubai can be anywhere from a few thousand to up to one hundred thousand dirhams per year. Because this can have a significant impact on annual costs, it is essential that these fees be factored in during price negotitations.

In addition to the purchase price, there are various other charges that customers are responsible for paying; however, we would not consider these to be hidden costs because they are addressed during the process of purchasing the property. In most cases, the sum of these fees might equal approximately seven percent of the overall value of the property. As a result, they must not to be ignored, but rather integrated into the costs associated with purchasing a house.

Additional Costs:
• DLD Transfer Fees amounting to 4% of the property’s net selling price.

• DLD Trustee Fee of AED 4,200 and Admin Charges of AED 580 (approximate prices)

• Real Estate Brokerage Agency Fees amounting to 2% of the property’s net selling price + 5% VAT

• Conveyancing Fee charged by the Real Estate Brokerage Agency (if applicable)