Most distress deals in Dubai are off-plan resales: the original buyer has paid part of the price under a payment plan and wants to exit before handover. You buy their position — what they've paid, plus the obligation to pay the rest.
How the money works
You typically pay the seller the amount they have already paid to the developer, adjusted up or down for the agreed discount, and then continue the remaining instalments directly with the developer. Ask for the developer's statement of account so you know exactly what has been paid and what is still due.
The steps
- Agree the price and sign a sale agreement (in Dubai, usually the RERA Form F) with a deposit
- The seller requests a No Objection Certificate (NOC) from the developer — most developers require a minimum percentage paid first
- Both parties attend the transfer at the developer or a registration trustee
- The Oqood (off-plan registration) is updated into your name with the Dubai Land Department
- You continue the payment plan until handover
Costs to budget for
Plan for the Dubai Land Department transfer fee (commonly 4% of the price), registration and trustee fees, the developer's NOC fee and any agency commission. Your advisor should give you the full list in writing before you commit.
Always confirm with the developer, not just the seller, how much has been paid and whether the unit can be transferred.
