EASY BUY PROCESS
STEP 1
Select READY Property
We believe that prices are at their lowest and are likely to rise over next few years. We only acquire READY properties with high demand and good rental yields in developed areas. DO NOT buy off-plan or incomplete property. DO NOT consider other areas such as Ajman or RAK. Studio and 1-Bed apartments are the Best Buy. Select one of the 3 property types opposite and then select the size (see brochures for details)
STEP 2
Make a Reservation
A reservation agreement will be sent to you. To get the best deal e.g. a larger apartment for the same price, you may need to give us flexibility on the specific apartment.
STEP 3
Deposit via Client Account
Funds belong to the customer within the client account until paid to the seller at point of transfer. Initial deposit is 10% of property price.
STEP 4
Sign Purchase Agreement.
You will be sent the final version of the 'Agreement To Purchase' or sometime called MOU (Memorandum of Understanding) to sign. Visit to Dubai is not essential. You will also need to make arrangements to pay the remaining 90% prior to property transfer or on the day of property transfer (see below)
STEP 5
Property Transfer
At some point (normally within 30 to 60 days of signing the Purchase Agreement) you will need to visit Dubai and we will take you to the Dubai Lands department. The property can then be transferred to your name after all of the funds have been paid. Most customers use the Client Account to make the 90% of the remaining payment prior to transfer. Others use a Managers Cheque from UAE bank on the day of transfer. If you do not wish to visit Dubai, we can still transfer the property to your name using a Power of Attorney.
STEP 6
Rent out using Openshore
Openshore guarantee to take responsibility for renting out and pay a minimum of 8% rental yield (Studios and 1 bed apartments shown here). This takes the risk out of the investment. If you wish to use property yourself, then we will not rent it out. You can decide on this option at the time of purchase.
STEP 7
Get Rent & Growth
Inflation is eroding value of any cash funds you may have. Such an investment in Dubai (at its lowest price point) makes sense. Rental income of 8% and expected capital growth with possible doubling of property value over the next 5 years.
NOTE: Property prices can go down as well as up. Everyone has a view but no-one can be certain. We believe prices are rock bottom now and will go up in the next few years as there is very little new property being built - so shortages are likely.
Advice Hotline 01282 882017 (10am to 7pm Mon-Fri)
International Callers Call UK +44 1282 882017
Off plan Recovery Service
If you have purchased an off plan property anywhere in the UAE, paid 10% to 50% and your property is delayed or not built at all, then our switch to Dubai service may help you. Download the brochure for full detail but here are the essential elements. If you also know someone who has been affected - TELL THEM about this service even if you cannot take advantage of it yourself.
- We take over your legal claim. Off plan investors do have some legal rights and we are more likely to be successful with mass action in pursuing developer, master developer or the authorities than you can, by yourself.
- We give you part immediate credit and the amounts depends on your situation and property selected. The credit is against a ready Dubai property at the current LOW price we are selling them for. In addition to this, when the claim is settled, we pay you 50% to 75% of the recovered money. We and our lawyers keep 25% to 50%.
- You will pay an amount now, usually less than the outstanding amount, to switch to a better ready property with rental guarantee in Dubai. We rent it out for you. You normally end up with a BETTER property than you originally agreed to purchase for a LOWER total price you agreed to pay. You can select a smaller property and pay even less.
Example For A Typical Customer - John
John bought a 1-bed 900 sqft apartment in Ajman for AED 500K in 2008. John has paid AED 200K. John thus has AED 300K outstanding.
John would switch to a READY 1-bed 900 sqft apartment in DUBAI with current price AED 350K (and which was selling in 2008 for AED 750K). We would offer an immediate credit of AED 50K to reduce the current price to AED 300K. So he would only need to pay the remaining AED 300K outstanding and this would be paid upon legal transfer of the ready Dubai property to John.
John would thus end up with a BETTER, READY, property in DUBAI. His total payments are still AED 500K (AED 200K already paid to Ajman developer and 300K to us). Openshore would also offer an 8% rental guarantee and rent this property at no extra cost to John.
Plus if and when there is recovery via legal action from the original developer, master developer or authorities, John would get 50% t0 75%, which is up to AED 100K to 150K back. Although the chances of this are presently low, these chances are increased with collective action and legal persistence over a long time period which may be 1 to 2 years.
Please complete the following details and we will e-mail you the link to download the brochure which fully explains the procedure and details the properties on offer. Please fill all the information requested.
Openshore property
Unit 1, Time Technology Park
Simonstone, Burnley
Lancashire, BB12 7TW
Office Times: Mon-Fri 10am to 7pm
