Just when you thought the Dubai real estate market has been flooded with new real estate options, the Dubai Dinar Guru came up to you with yet another option. This time it is an internet-based company that will help you buy or sell properties in Dubai, and all your transactions will be done through the internet. All you have to do is pay a small registration fee, and the website itself will take care of everything from the property search to the property listing to the commission charged on the sale of the property. But is this a scam?
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Considered Legit or Scam Companies
There are so many companies that claim to be a one stop shop for all your needs that it is hard to tell which ones are genuine and which ones are just scam people trying to take advantage of your good faith. Before you invest any money, especially in Dubai properties, you should make sure that you are making the right decision. Just because you think that a particular Dubai property has something to offer you, doesn’t mean that it is the one. There are established financial companies who deal with all kinds of properties and who have authentic and well informed lists of the available Dubai properties that you may choose from.
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Dubai property companies
You may also want to check out the list of properties that the Dubai property companies have on their website and then check out the list of the fees that they charge for each of these properties. The fee structure should be clearly listed on the website along with photographs and detailed descriptions of the available properties. If there are any fees that are not mentioned on the site then they are most probably a scam. Also, the Dubai real estate market is very active and fast-moving and there is always the possibility that you might miss out on a really good deal by looking too intently for a bargain or a low price.
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If you find that you have found a list that seems too good to be true then it most probably is a Dubai property or a Dubai apartment or villa that is being sold in the name of a well known real estate agent who is trying to make a quick fortune by fooling buyers with slick advertising and high prices. The Dubai property or apartment or villa on sale will be sold in the name of an experienced and successful real estate agent who will be paid a high price for the property. However, just because the agent is being paid a high price does not mean that the price is correct and you need to closely compare the advertised price with the actual price paid for the item.
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Common Dubai property
Another very common Dubai property scam is the practice of “deadlocking”. This is where a group of foreign currency traders agree to buy an apartment or villa at a fixed price in Dubai but cannot actually close the deal because all of the principals have already agreed to purchase the apartment or villa. The buyer who paid in cash remains in the villa until the negotiations are completed and the seller wishes to finish the transaction. The investor who is interested in making a profit in Dubai real estate will end up with a non-performing loan which is in default because no one is making any payments on the loan.
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Dubai real estate investment
A good Dubai real estate investment opportunity is a property that is being marketed at a low price but with excellent structural features and maintenance. You should also find a property that is in a secure and mature neighborhood because there are often times that investors will purchase properties that are listed at high prices just because the property is on the market. There are many experienced real estate agents that will assist you in locating and selecting a safe and secure property. Do your research. You should always trust a person who has been in this business for a long period of time.