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that. That is why we invest so much time on explaining to our clients the process of buying, costs of buying and laws of buying a property in this part of the world. None of our clients enter into the process without having a full understanding of these things having been explained to them in a clear and transparent way without financial jargon.” MENA Mortgage services have designed several tools to assist with clients understanding of how things work which they happily share. An example of this is a time line to explain the process of buying a property in DubaiMENA MORTGAGE “STEP BY STEP” GUIDE TO BUYING A PROPERTY IN DUBAI 1.Fact Find completed on the telephone to see ones suitability to proceed. 2.Consultant research profile of client. 3.Book first meeting. FIRST MEETING AGENDA • Costs of buying property in the UAE • Process of buying property in the UAE • Laws of buying property in the UAE • Options of financing in the UAE • Consultant to the provide quotations
Understanding (MOU). Consultant arrange THIRD meeting. THIRD MEETING AGENDA •Memorandum of Understanding (MOU) •Process post MOU 12.Client sign MOU. 13.Consultant instruct valuation. 14.Consultant run through valuation with clients. 15.Consultant to discuss life insurance, buildings insurance and wills. 16.Offer of Mortgage made and Consultant runs through offer with client. 17.Client signs offer and remaining paperwork and move’s to transfer. 18.Client obtains keys. 19.Consultant run through a customer service review with client. Once clients have all of the information they need it is up to them to make the informed choice about whether to buy are not. As they are independent MENA Mortgage Services can offer guarantee’s to their clients such as the cheapest rates in the market place and do not discriminate against which real estate agents, developments or developers their clients purchase from. This purchase may be a family home and they do not believe the location of this should be dictated by anyone exact the client themselves.
4.Clients sign TOB (Terms of Business) and provide documents to complete initial research. 5.Consultant research whole UAE market, speak to third parties and book SECOND meeting.
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SECOND MEETING AGENDA • Changes since the first meeting • Finance Options • Documentation required 6.Client prepare final documents if needed. 7.Consultant package case and present to bank. 8.Mortgage Pre Approval obtained and consultant presents to client. 9.Client has typically three months to find a prop erty. 10.Client views and offers. 11.Offer accepted, agent draw up Memorandum of
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