{"id":101437,"date":"2024-08-16T06:00:00","date_gmt":"2024-08-16T02:00:00","guid":{"rendered":"https:\/\/www.propertyfinder.ae\/blog\/?p=101437"},"modified":"2025-01-09T15:21:18","modified_gmt":"2025-01-09T11:21:18","slug":"buying-resale-property","status":"publish","type":"post","link":"https:\/\/www.propertyfinder.ae\/blog\/buying-resale-property\/","title":{"rendered":"Everything You Need To Know When Buying A Resale Property"},"content":{"rendered":"<p>Thinking of buying a resale property? Well, it has many benefits. Getting a residence while saving money and avoiding construction time is an appealing prospect. However, there are also plenty of risks associated with it. These include renovation costs and legal requirements.&nbsp;<\/p><p>If you are thinking about buying a resale property, here are some of the things to consider.<\/p><ul class=\"wp-block-list\">\n<li><a href=\"#h-things-to-consider-before-buying-a-resale-property-nbsp\">What To Know Before Buying Resale Property<\/a><\/li>\n\n\n\n<li><a href=\"#h-get-a-lawyer\">Get a Lawyer<\/a><\/li>\n\n\n\n<li><a href=\"#h-condition-of-property\">Condition of Property<\/a><\/li>\n\n\n\n<li><a href=\"#h-budgeting-your-expenses\">Budgeting Your Expenses<\/a><\/li>\n\n\n\n<li><a href=\"#h-conduct-market-research\">Conduct Market Research&nbsp;<\/a><\/li>\n\n\n\n<li><a href=\"#h-scan-for-renovation\">Scan For Renovation<\/a><\/li>\n\n\n\n<li><a href=\"#h-get-original-documents\">Get Original Documents&nbsp;<\/a><\/li>\n\n\n\n<li><a href=\"#h-basic-amenities\">Basic Amenities<\/a><\/li>\n\n\n\n<li><a href=\"#h-faqs\">FAQs<\/a><\/li>\n<\/ul><h2 class=\"wp-block-heading\" id=\"h-things-to-consider-before-buying-a-resale-property-nbsp\">Things to Consider Before Buying a Resale Property&nbsp;<\/h2><p>Buying a resale property requires knowledge about a handful of things. You may need help with dealing with legal troubles or what things to factor in when budgeting costs. Not to mention, there is also a proper infrastructure that includes basic amenities like local shops and businesses already well-established in the area.&nbsp;<\/p><p>Here are all the things that you should know before buying a resale property.<\/p><h3 class=\"wp-block-heading\" id=\"h-get-a-lawyer\">Get a Lawyer<\/h3><p>One of the most crucial things to keep note of before buying a resale property is to get a lawyer who will deal with the property documentation. This will end up saving a lot of time and protect the buyer from falling into legal trouble. Besides, buyers or investors must keep in mind all the <a href=\"https:\/\/www.propertyfinder.ae\/blog\/procedure-to-buy-property-in-dubai\/\" target=\"_blank\">legal procedures to buy property in Dubai<\/a>.<\/p><figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"1000\" height=\"667\" src=\"https:\/\/www.propertyfinder.ae\/blog\/wp-content\/uploads\/2024\/07\/5Everything-you-need-to-know-when-buying-a-resale-property.jpg\" alt=\"Renovation of Property\" class=\"wp-image-101463\" srcset=\"https:\/\/www.propertyfinder.ae\/blog\/wp-content\/uploads\/2024\/07\/5Everything-you-need-to-know-when-buying-a-resale-property.jpg 1000w, https:\/\/www.propertyfinder.ae\/blog\/wp-content\/uploads\/2024\/07\/5Everything-you-need-to-know-when-buying-a-resale-property-400x267.jpg 400w, https:\/\/www.propertyfinder.ae\/blog\/wp-content\/uploads\/2024\/07\/5Everything-you-need-to-know-when-buying-a-resale-property-800x534.jpg 800w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><\/figure><h3 class=\"wp-block-heading\" id=\"h-condition-of-property\">Condition of Property<\/h3><p>The most important thing the buyer should take note of is the state of the property. Generally, it&rsquo;s better to avoid any extremely old property. This building can possess structural risks. In this case, the costs may end up higher. That said, investors can look for new developments and <a class=\"wpil_keyword_link\" href=\"https:\/\/www.propertyfinder.ae\/en\/new-projects\" target=\"_blank\" title=\"off-plan\" data-wpil-keyword-link=\"linked\" data-wpil-monitor-id=\"90\">off-plan<\/a> projects with a higher potential in the future.&nbsp;<\/p><p>Property type also contributes to the factors that impact real estate investment. For that reason, a buyer must assess all conditions, property types, location, and market status before buying a resale property.<\/p><figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"1000\" height=\"667\" src=\"https:\/\/www.propertyfinder.ae\/blog\/wp-content\/uploads\/2024\/07\/1Everything-you-need-to-know-when-buying-a-resale-propert.jpg\" alt=\"Resale Property\" class=\"wp-image-101459\" srcset=\"https:\/\/www.propertyfinder.ae\/blog\/wp-content\/uploads\/2024\/07\/1Everything-you-need-to-know-when-buying-a-resale-propert.jpg 1000w, https:\/\/www.propertyfinder.ae\/blog\/wp-content\/uploads\/2024\/07\/1Everything-you-need-to-know-when-buying-a-resale-propert-400x267.jpg 400w, https:\/\/www.propertyfinder.ae\/blog\/wp-content\/uploads\/2024\/07\/1Everything-you-need-to-know-when-buying-a-resale-propert-800x534.jpg 800w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><\/figure><h3 class=\"wp-block-heading\" id=\"h-budgeting-your-expenses\">Budgeting Your Expenses<\/h3><p>It&rsquo;s important to budget the costs early before buying a resale property. This includes:<\/p><ul class=\"wp-block-list\">\n<li>Purchasing price of the property itself<\/li>\n\n\n\n<li>Lawyer fees<\/li>\n\n\n\n<li>Agent fees<\/li>\n\n\n\n<li>Renovation and repair costs<\/li>\n\n\n\n<li>Registration fees<\/li>\n<\/ul><p>Planning your budget holds utmost importance. For instance, buyers or investors can get a <a href=\"https:\/\/www.propertyfinder.ae\/blog\/property-valuation-dubai\/\" target=\"_blank\">property valuation in Dubai<\/a> beforehand to find the actual price of the resale property.<\/p><h3 class=\"wp-block-heading\" id=\"h-conduct-market-research\">Conduct Market Research<\/h3><p>Market research is essential before you buy a resale property. Analyse and consider all your options by scouring through the market looking for market trends, preferred neighbourhoods and property values. Doing appropriate research would help buyers in making the best possible decision.&nbsp;<\/p><p>Moreover, you can plan according to the market research. For example, <a href=\"https:\/\/www.propertyfinder.ae\/blog\/data-guru\/\" target=\"_blank\">Data Guru by Property Finder<\/a> can help with community insights and price trends.<\/p><figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"1000\" height=\"667\" src=\"https:\/\/www.propertyfinder.ae\/blog\/wp-content\/uploads\/2024\/07\/2Everything-you-need-to-know-when-buying-a-resale-propert.jpg\" alt=\"Properties in UAE \" class=\"wp-image-101460\" srcset=\"https:\/\/www.propertyfinder.ae\/blog\/wp-content\/uploads\/2024\/07\/2Everything-you-need-to-know-when-buying-a-resale-propert.jpg 1000w, https:\/\/www.propertyfinder.ae\/blog\/wp-content\/uploads\/2024\/07\/2Everything-you-need-to-know-when-buying-a-resale-propert-400x267.jpg 400w, https:\/\/www.propertyfinder.ae\/blog\/wp-content\/uploads\/2024\/07\/2Everything-you-need-to-know-when-buying-a-resale-propert-800x534.jpg 800w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><\/figure><h3 class=\"wp-block-heading\" id=\"h-scan-for-renovation\">Scan For Renovation<\/h3><p>When buying a property, look for different repairs and maintenance tasks. It is imperative to conduct a snagging survey of the property to check areas that need potential maintenance. If a property requires renovation, it adds to the overall cost. Plus, you can follow <a href=\"https:\/\/www.propertyfinder.ae\/blog\/property-management-tips-in-dubai\/\" target=\"_blank\">property management tips in Dubai<\/a> to keep your home well-maintained after buying.<\/p><h3 class=\"wp-block-heading\" id=\"h-get-original-documents\">Get Original Documents<\/h3><p>When buying a resale property, buyers should always accept original documents. If the seller provides copies, the original documents can be sent to the lender or mortgagor. Moreover, an existing mortgage on the property can be due.<\/p><p>For that reason, you must ask for original property documents and title deeds to avoid any inconveniences later. Besides, you must transfer the title to your own name instantly after buying a resale property.<\/p><figure class=\"wp-block-image size-full\"><img decoding=\"async\" width=\"1000\" height=\"667\" src=\"https:\/\/www.propertyfinder.ae\/blog\/wp-content\/uploads\/2024\/07\/4Everything-you-need-to-know-when-buying-a-resale-property.jpg\" alt=\"Dubai at night\" class=\"wp-image-101462\" srcset=\"https:\/\/www.propertyfinder.ae\/blog\/wp-content\/uploads\/2024\/07\/4Everything-you-need-to-know-when-buying-a-resale-property.jpg 1000w, https:\/\/www.propertyfinder.ae\/blog\/wp-content\/uploads\/2024\/07\/4Everything-you-need-to-know-when-buying-a-resale-property-400x267.jpg 400w, https:\/\/www.propertyfinder.ae\/blog\/wp-content\/uploads\/2024\/07\/4Everything-you-need-to-know-when-buying-a-resale-property-800x534.jpg 800w\" sizes=\"(max-width: 1000px) 100vw, 1000px\" \/><\/figure><h3 class=\"wp-block-heading\" id=\"h-basic-amenities\">Basic Amenities<\/h3><p>It is also essential to look for a property that includes basic amenities nearby. For instance, gyms, swimming pools, malls, and supermarkets within the community can be a few of the factors to consider. The neighborhood should also offer basic facilities such as nurseries, schools, hospitals, and clinics.<\/p><h2 class=\"wp-block-heading\" id=\"h-faqs\">FAQs<\/h2><div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1721815752319\"><strong class=\"schema-faq-question\">1. Why Should I Buy Resale Property?<\/strong> <p class=\"schema-faq-answer\">There are plenty of benefits to buying resale property. For one, resale properties are located in areas with established neighbourhoods and communities with proper infrastructure. If you plan to purchase a resale home, those can also include beautifully built gardens that may take years to grow.&nbsp;<br><br>The biggest benefit of purchasing a resale property is that it&rsquo;s budget-friendly, and the buyer can further negotiate prices with the seller.&nbsp;<br><br>Those who are planning to shift from other emirates can check out a <a href=\"https:\/\/www.propertyfinder.ae\/blog\/moving-to-dubai\/\" target=\"_blank\">step-by-step guide on moving to Dubai<\/a>.<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1721815781117\"><strong class=\"schema-faq-question\">2. What Are The Risks Of Buying a Resale Property?<\/strong> <p class=\"schema-faq-answer\">There are plenty of risks when you buy a resale property, which is why it is generally recommended to take a thorough tour of the property to get a proper idea of the required renovation. Potential risks are:<br>&ndash; Very high maintenance costs&nbsp;<br>&ndash; Legal troubles<br>&ndash; Fewer amenities&nbsp;<br>&ndash; Poor infrastructure<\/p> <\/div> <\/div><p>That&rsquo;s all there is to know about buying resale property. If you are looking to buy a <a href=\"https:\/\/www.propertyfinder.ae\/en\/buy\/properties-for-sale.html\" target=\"_blank\">property for sale in the UAE<\/a>, ensure that you thoroughly check and ask the neighbours about the community.<\/p><p>For more information on real estate investing and renting, keep reading <a href=\"https:\/\/www.propertyfinder.ae\/blog\/\" target=\"_blank\">Property Finder blogs<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Purchasing a resale property can have its benefits and risks \u2013 Here\u2019s what you need to know beforehand.<\/p>\n","protected":false},"author":30250,"featured_media":137503,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_eb_attr":"","footnotes":""},"categories":[1230,5857],"tags":[],"class_list":["post-101437","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-home-fashion","category-tips-tricks"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.0 (Yoast SEO v22.5) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Things To Know Before Buying A Resale Property<\/title>\n<meta name=\"description\" content=\"Buying a resale property can be a great investment. 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However, you should keep renovation and other factors in mind to avoid extra costs.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.propertyfinder.ae\/blog\/buying-resale-property\/\" \/>\n<meta property=\"og:site_name\" content=\"Property Finder Blog UAE\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/propertyfinderuae\" \/>\n<meta property=\"article:published_time\" content=\"2024-08-16T02:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-01-09T11:21:18+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.propertyfinder.ae\/blog\/wp-content\/uploads\/2024\/08\/3Everything-you-need-to-know-when-buying-a-resale-property.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"667\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Samrina Khan\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@propertyfinder\" \/>\n<meta name=\"twitter:site\" content=\"@propertyfinder\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Samrina Khan\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.propertyfinder.ae\/blog\/buying-resale-property\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.propertyfinder.ae\/blog\/buying-resale-property\/\"},\"author\":{\"name\":\"Samrina Khan\",\"@id\":\"https:\/\/www.propertyfinder.ae\/blog\/#\/schema\/person\/7256be2bb51b7f3e73d847288e62e5f9\"},\"headline\":\"Everything You Need To Know When Buying A Resale Property\",\"datePublished\":\"2024-08-16T02:00:00+00:00\",\"dateModified\":\"2025-01-09T11:21:18+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.propertyfinder.ae\/blog\/buying-resale-property\/\"},\"wordCount\":856,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.propertyfinder.ae\/blog\/#organization\"},\"image\":{\"@id\":\"https:\/\/www.propertyfinder.ae\/blog\/buying-resale-property\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.propertyfinder.ae\/blog\/wp-content\/uploads\/2024\/08\/3Everything-you-need-to-know-when-buying-a-resale-property.jpg\",\"articleSection\":[\"Lifestyle\",\"Tips &amp; Tricks\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.propertyfinder.ae\/blog\/buying-resale-property\/#respond\"]}]},{\"@type\":[\"WebPage\",\"FAQPage\"],\"@id\":\"https:\/\/www.propertyfinder.ae\/blog\/buying-resale-property\/\",\"url\":\"https:\/\/www.propertyfinder.ae\/blog\/buying-resale-property\/\",\"name\":\"Things To Know Before Buying A Resale Property\",\"isPartOf\":{\"@id\":\"https:\/\/www.propertyfinder.ae\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.propertyfinder.ae\/blog\/buying-resale-property\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.propertyfinder.ae\/blog\/buying-resale-property\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.propertyfinder.ae\/blog\/wp-content\/uploads\/2024\/08\/3Everything-you-need-to-know-when-buying-a-resale-property.jpg\",\"datePublished\":\"2024-08-16T02:00:00+00:00\",\"dateModified\":\"2025-01-09T11:21:18+00:00\",\"description\":\"Buying a resale property can be a great investment. 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Why Should I Buy Resale Property?\",\"answerCount\":1,\"acceptedAnswer\":{\"@type\":\"Answer\",\"text\":\"There are plenty of benefits to buying resale property. For one, resale properties are located in areas with established neighbourhoods and communities with proper infrastructure. If you plan to purchase a resale home, those can also include beautifully built gardens that may take years to grow.\u00a0<br\/><br\/>The biggest benefit of purchasing a resale property is that it\u2019s budget-friendly, and the buyer can further negotiate prices with the seller.\u00a0<br\/><br\/>Those who are planning to shift from other emirates can check out a <a href=\\\"https:\/\/www.propertyfinder.ae\/blog\/moving-to-dubai\/\\\" target=\\\"_blank\\\" rel=\\\"noreferrer noopener\\\">step-by-step guide on moving to Dubai<\/a>.\",\"inLanguage\":\"en-US\"},\"inLanguage\":\"en-US\"},{\"@type\":\"Question\",\"@id\":\"https:\/\/www.propertyfinder.ae\/blog\/buying-resale-property\/#faq-question-1721815781117\",\"position\":2,\"url\":\"https:\/\/www.propertyfinder.ae\/blog\/buying-resale-property\/#faq-question-1721815781117\",\"name\":\"2. 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However, you should keep renovation and other factors in mind to avoid extra costs.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"og_locale":"en_US","og_type":"article","og_title":"Everything You Need To Know When Buying A Resale Property","og_description":"Buying a resale property can be a great investment. 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