| Buying a property is definitely a big step and needs a lot of prior planning before the execution phase. Who wouldn’t love to live in a flourishing country like Qatar, with luxurious residential facilities? Finding properties for rent in Qatar is usually easier as people can rent anywhere in the country. This is not the case for expats when buying properties. Expatriates living in and outside Qatar can purchase a property only in limited regions of the country, which requires careful research and analysis. The buyers can take help from property finder websites or estate agents while searching for properties for sale in Qatar. Possessing a freehold property where the person can own both the land and the property can easily earn a residency permit. LEGAL PERMITS Before initiating on to buy a property in Qatar as an expat, the person should get a proper work residence permit. This permit allows the holder to work and live in Qatar. to invest in properties only in certain regions of Qatar. Buying properties in Qatar does not require pre-existing freehold or leasehold properties in that region. ESTATE AGENTS Usually, people buying a property in Qatar prefer to operate through local estate agents in the region. They are well aware of all the property details and the process involved. Choosing an estate agent according to the realtor fees according to the buyer’s budget is also important. Picking the right agent takes time. Once that part is sorted, the following procedures will fall in place. OFF-PLANS Purchasing real estate properties directly from the dealer is a popular method in Qatar. Buying off-plan properties are a more feasible and wise option compared to homes that are ready to move-in. In this way, the finances can be easily accommodated as split payment methods are followed here. The final and complete payment can be made once the complete unit is ready. Until then, the payment of the property can be done in instalments. CLOSING THE DEAL Finding the right property in the desired location in Qatar that lies under the buyer’s budget criteria is a big boon for those longing to own a property in Qatar. After mutual consent between the buyer and the seller of the property, the final agreement is drafted with the assistance of the lawyer. The deal gets closed in the presence of the estate agent and the lawyer with a 20% down payment to the seller/dealer. REGISTRATION PROCESS After finalizing the property, the buyer and the seller meet at the developer’s place to sign off the No Objection Certificate (NOC) to proceed with the registration process. Followed by the NOC, the buyer along with the lawyer and the estate agent will go to the Real Estate Registration to register the property under the buyer’s name. Usually, all the property transactions get over within 30 days from the date the agreement for sale is signed by both parties. All dealings can be performed smoothly if the required documents are readily available. |
How to Buy a Property in Qatar
