How long does it take to buy a property?

The buying a property timeline can be tricky to predict. It typically takes anywhere from four weeks at the low end to two months (or more) to shop for and close on a property. But it can be quicker if you make a strong offer right away in a fast-moving market.

Here’s your step-by-step buying a property timeline:

1–2 Weeks

Get pre-approved for a mortgage

It only takes one to five business days to get mortgage pre-approval, if required documentation is complete but sometime its takes time to get approvals.

3–5 Days

Make a list of needs and start browsing

Take the time to think about the things you absolutely need in your ideal property (for instance, a certain number of bedrooms or a short commute) as well as the things you want but could do without (say, a bathtub). Be prepared to adjust your list as you take stock of what’s out there and how much house you can afford.

1 Week– 4 Months

Go to viewings

Now it’s us to start setting up viewings of properties you’re interested in. The timing of this part of the process is especially variable. In some markets, you could visit several properties and make an offer that same day that gets accepted. In other places, you could wait months for the right property to come on the market, or you could get outbid time and time again before an offer is finally accepted. According to our experience, the average time spent in find appropriate property is about 2 Weeks.

3–5 Days

Make an offer and negotiate

When you find a property that seems like “the one,” we will help you put together an offer. Then it’s time to wait for the seller to accept, decline, or negotiate with you. This can be speedy if you’re trying to buy a foreclosure, but in a seller’s market, you may be held in suspense a bit longer as you await a response. The seller may accept or reject your offer, or they may send you a counteroffer, kicking off a round of negotiations.

2 days-2 Weeks

Signing a MOU

When your offer is accepted by seller this time we can collect required documents to prepare initial paperwork and agreement to get signed by both parties. The standard in Dubai is for a 10% deposit on the property to be paid to the seller simultaneously. Once this step is finalised, you’ll be halfway through the process. This process can be done with in 2 days but sometime if seller’s are outside country it might take 2 weeks.

5–7 days

Get your loan approved and valuation

If you’re already pre-approved for your mortgage, now your lender will hire a professional to conduct a valuation to determine your property value and during this time for you and us to gather the necessary documents for your lender to complete the underwriting process and approve the loan. This is known as the closing process. So how long does it take to close on a property? The average is 5 days, but the next two steps can and should be completed while you’re waiting for your closing day.

1 Day

Applying for a No Objection Certificate (NOC)

Now, you and the seller will need to meet in the office of the developer. The objective of this meeting is to apply and pay for a No Objection Certificate (NOC) to transfer the ownership. The developer will then issue the NOC, but only after ascertaining that there are no outstanding fees on the property in the way of service charges. Bear with us – we’re almost there!

1 Day

Effecting the transfer of ownership with Dubai Land Department

Once you’ve obtained the NOC, you will need to meet the seller at the office of Dubai Land Department to effect the transfer. DLD will require you make a payment of the property price in the form a manager’s cheque. This cheque should be made payable to the seller on the date of the transfer. Lastly, a brand-new title deed will be issued in your name, and you will officially become a property owner in Dubai.

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Buyers Timeline