Choose your property

Browse available resale properties in Ras Al Khaimah. Work with a registered real estate broker to view properties, verify ownership status, and confirm the property is free from any liens or legal disputes. Request recent utility bills and service charge statements to understand ongoing costs.

Important: Always work with licensed real estate brokers before proceeding.

2

Make an offer and negotiate

Submit a formal offer through your broker. The seller may accept, reject, or counter your offer. Once both parties agree on the price and terms, you'll proceed to the next step. This negotiation phase typically includes discussions about payment timeline, inclusion of furniture or fixtures, and handover date.

3

Pay the booking deposit

Once the deal has been agreed, you will be required to issue a cheque deposit of 10% in the buyer's name, to be held by the agency representing you. This deposit secures the property and takes it off the market, demonstrating your serious intent to purchase.

If you are a non-resident and don't have a UAE bank account, you will need to transfer the amount to your representing agency, and they will make the cheque out in the seller's name.

Important: The cheque is not handed over to anyone and is kept as security with your agency. The booking deposit is refundable if the seller fails to meet agreed conditions, but may be forfeited if the buyer withdraws without valid reason.

4

Sign the Memorandum of Understanding (MOU)

Both parties sign a Memorandum of Understanding outlining the agreed purchase price, payment terms, handover date, and any special conditions. The MOU serves as a preliminary agreement and includes details such as whether the property is sold furnished or unfurnished, who pays outstanding service charges, and the timeline for completion.

Important: The MOU is a standard template document that is legally binding and establishes the framework for the transaction. While lawyers are generally not required for standard MOUs, you may choose to have one review it if the transaction has complications in it.

5

Complete KYC documentation

Submit Know Your Customer (KYC) documentation including passport copies, Emirates ID (if applicable), proof of address, and source of funds declaration.

6

Apply for a No Objection Certificate (NOC)

Your broker will apply for a No Objection Certificate (NOC) from the developer, verify there are no outstanding service charges, and confirm the property title is clear.

If purchasing with a mortgage, your bank will conduct a property valuation during this stage to confirm the property's market value before approving your loan.

Note: The NOC fee can vary from developer to developer and is usually up to AED 5,000, payable by the buyer. Processing time can take 2-4 days.

7

Arrange payment and mortgage approval

For cash buyers, arrange the transfer of the remaining balance (purchase price minus deposit). If you don't have a UAE bank account, you can transfer the amount to your agency and they will prepare a manager's or banker's cheque. Please note charges may apply.

For mortgage buyers, finalize your mortgage approval, which typically requires 20-25% down payment for UAE nationals or 15-20% for expats, depending on the property value and bank policies.

Timeline: Mortgage approval can take 2-4 weeks. Factor this into your completion timeline and communicate clearly with the seller.

8

Transfer at RAK Land Department

Both buyer and seller (or their authorized representatives with a valid Power of Attorney) attend the RAK Land Department to complete the transfer. The buyer pays the 4% transfer fee based on the property's sale price, plus additional fees including:

• RAK Land Department registration fee: AED 500
• Mortgage registration fee (if applicable): Varies by bank
• Broker commission: Typically 2% of purchase price (paid by buyer)

Important: In RAK, the 4% transfer fee is calculated on the actual sale price. Bring a valid ID, all original documents, and arrange payment methods accepted by the Land Department.

9

Handover and property setup

Receive the keys and transfer utility accounts (SEWA, internet, cooling) into your name. If you plan to rent the property, we offer complete property management, marketing, and tenant placement services under one roof.

NOTE: If you would like to appoint a company to handle all these procedures and transfer the amounts on your behalf, this is possible. Please check with us and we will put you in touch with a registered company.

Buying Process - Secondary / Resale