Sale Agreement- Once you have found the property of your dreams, you will make an offer and sale agreement will be drawn up. This commits both the seller and the buyer to the sale, but subject to certain conditions such as the buyer

obtaining a mortgage and the seller ensuring that the title to the property is "clean". The buyer should be aware that the commitment to certain dates is binding. It is important adhere to dates and conditions set out in the agreement, otherwise the seller might take the opportunity to pull out of the sale, particularly if a better offer comes up.

Costs- The costs involved will vary according to factors involved in the purchase agreement and the type of loan the purchaser has applied for. Many of the costs involved with the loan application will have been paid for in advance. Typically

the costs required on closing are the down payment, fees involved in setting up the loan (application fee, credit report, etc.), inspection fees, mortgage insurance, title insurance and stamp duty.

Title Insurance- Title insurance protects the buyer of real estate in the case where a situation arises in which the title to a property is clouded. This is when a person has an interest in the property that was not found or disclosed at the

time of sale. For example a lender may have a lien on a property that was not discovered for some reason. The title insurance protects the purchaser from any expenses or loss that may occur as a result of this defect in the title.

Surveys- In the UAE this is called an Inspection Report and is an essential to have before buying a property especially as the buyer buys a property in the condition it is in at the time of sale. There can be no complaints or compensation

for defects once the purchase is closed between buyer and seller. Apart from looking at the structure of the property an inspection should also be carried out for termite infestation and radon. Do not expect the seller to make all the repairs you demand, make sure that this is included in the sales agreement before you sign.

Finance- If you possess property in your own country and would like to borrow against this in an equity release plan, we can introduce you to an independent financial advisor who will help you raise the necessary finance.