WHAT IS THE DIFFERENCE BETWEEN LEASEHOLD AND FREEHOLD PROPERTIES? A Leasehold property is a property that is leased out by Emaar Properties to a Lessee for a specific period of time. A Freehold property is a property that is sold outright for a specific purchase price to a Purchaser and there is no limit on ownership rights.
WHY IS THE RATE OF MAINTENANCE FEES NOT SPECIFIED IN THE SALE AGREEMENT? The rate of maintenance fees is an amount that varies depending on the yearly costs and expenses involved in the maintenance, operation and upkeep of the common areas in the concerned community. However the Sale Agreement does mention the payment of maintenance fees.
WHY DO WE SIGN SALE AGREEMENTS WITH SPRINGS, MEADOWS, ARABIAN RANCHES, DUBAI MARINA AND THE LIKE AND NOT WITH EMAAR? The Agreement is always signed between the Purchaser and the respective Company that is acting as the Vendor. However, the Vendor company is a subsidiary of Emaar Properties PJSC.
What is a Mortgage? A loan in which the borrower puts up the title/property documents to real estate as security (collateral) for a loan. If the borrower doesn’t pay back the debt on time, the lender can foreclose on the real estate and have it sold to pay off the loan.
Why do I need to register the mortgage of my property with Emaar Properties? Emaar Properties will register the mortgage over any of its properties at the request of the purchaser of the property in its Property Register to protect the interest of the Bank in the said property. Emaar will also issue an undertaking letter / Consent to Mortgage and Charge / Sale Addendum to this effect. However, Emaar’s undertaking expires in the event of completing the title deed registration or full repayment of the loan, whichever is earlier.
Why do I need to pay a mortgage registration fee? A nominal fee of AED 5,000 is charged for registration of the mortgage with Emaar to cover all administrative costs. Emaar also provides an undertaking to the Bank / Financial Institution to protect the interest of the Bank / Financial Institution in the mortgaged property.
What is Emaar Preferred Access? The Emaar Preferred Access Programme is a customer-oriented initiative that has been launched to provide long-term investors and end-users the opportunity to make investments in our new project launches.We have launched the initiative because we realised that due to the strong response to our project launches, several end-user and long-term investors missed the opportunity to buy an Emaar property.The Emaar Preferred Access Programme is subject to the below terms and conditions.
Does registration to the programme and following all conditions guarantee a purchase opportunity? The allotments of homes in the Emaar Preferred Access Programme will be based on demand and the number of units available.
How do I register for Preferred Access? When online registration opens for launch, customers will be directed to a field for the “Emaar Preferred Access” Programme. Online registration is only applicable for a launch. For an investment that is not linked to a launch, customers may directly contact the Emaar Sales Centre.
Is Preferred Access given as a one-time only opportunity or will this be on-going for all future launches? The “Emaar Preferred Access” Programme is on-going and can be availed of by customers every time they register online.
What is a Home Orientation? A Home Orientation is an opportunity to visit your home with one of Property Handover executives.. During the Home Orientation, any matters that require attention will be recorded on a Home Orientation checklist Emaar’s Property Quality Assurance Department (PQA) will liaise with the Contractor to ensure all observations as recorded on the checklist (subject to acceptance by PQA and consultants) are rectified.
Can Emaar provide a visit visa for my home orientation/ handover? No, Emaar does not provide visit visas for customers.
Can I authorize someone to do the orientation in my behalf? Yes, provide us with an authorization letter with the name and number of your representative, clearly stating that you wish to authorize him to conduct the orientation on your behalf. Please include a copy of your passport for signature verification.