Legal Requirements To Buy A Penthouse In Dubai

Buying a penthouse in Dubai is a dream for those looking for a lavish lifestyle. In addition to being a home, these units are also serviced and offer plenty of entertainment space. They come with luxurious amenities and breathtaking views of the Gulf waters. If you are willing to buy luxury penthouses for sale in Dubai, look at the legal requirements there. 

It would help if you visited the Dubai Land Department:

Buying a penthouse in Dubai requires a few legal steps. First, you must visit the Dubai Land Department, the Emirate’s main real estate management agency. The department is responsible for ensuring the safety of buyers and sellers in Dubai. It also issues a new title deed for the property you buy. 

Penthouses are available in various sizes and shapes. They are usually available in high-end towers and buildings. These are usually designed with spacious terraces, gardens, and other modern facilities. Some buildings also include spas, swimming pools, and gyms. These units also provide stunning views of the ocean and the city.

You will be required to provide a 10% security deposit:

You will also be required to provide the Registration Trustee with a 10% security deposit. Once the property has been transferred, you will receive the security deposit back. The security deposit should be paid in a RERA-approved securities account.

You will need to prepare a formal sales and purchase agreement:

Before you buy a penthouse in Dubai, you will need to prepare a formal sales and purchase agreement. This legally binding contract will outline the terms of the sale, payment methods, and completion date. A lawyer should review the agreement to ensure it is a sound contract. Before signing the agreement, you must also obtain pre-approval for a mortgage. The NOC, or no objection certificate, will be issued after you have paid the security deposit and the original mortgage.

After purchasing a penthouse in Dubai, you can add a swimming pool or jacuzzi to your unit. Some developments also provide valet parking. Most developments also offer restaurants and bars. In addition to these services, some penthouses have private beach access. The location of these penthouses sets them apart from other buildings.