Due Diligence For Land Purchase
Importance Of Due Diligence In UAE
What to do if, after the purchase, the court declares the transaction invalid? To avoid possible adverse consequences before signing a contract on a site buying, it is necessary to conduct a legal examination, which reduces the likelihood of occurring risks. Thus, the buyer has complete and reliable information about the acquired land plot. Let’s consider why it is necessary to conduct due diligence for land purchase near you.
What Due Diligence On Land Helps To Define
A thorough legal analysis in Dubai provides answers to the following questions:
- What is the history of a particular property?
- Does the seller have the necessary documents on the property?
- Will the future owner have potential and actual risks of losing the acquired property?
- Are there any bank mortgages, arrests, or bond obligations on the land plot?
- Are all real estate documents “in order”, or will the documents need to be reissued that will postpone or delay the state registration of the bargain?
How Long Does Due Diligence Buying Land Last?
If the seller of the particular area is an individual person, then the procedure takes 15-20 working days, if a legal person – 25-30 days.
Cost Of Lawyers’ Help In UAE
On average, such services cost from 2-3% of the deal’s amount. At the same time, it does not directly depend on the value of the bargain. Indeed, the cost of due diligence for land purchase depends on the amount of work to be done to identify danger.
What The Clients Get In Result
- Understanding the legal status of a project. Based on the audit results, the investor receives reliable information to make an informed decision on whether he still wants to get a ground or join a project, and whether investments in this asset will be safe enough.
- Assessment of the investment attractiveness of the asset. Due diligence for land purchase makes it possible to understand whether you can use an asset for specific investment purposes(the possibility of building and operating an industrial facility on a given territory, etc.).
- Correction of the project value. Early identification of problems allows you to revise the price of an asset offered by the seller/partner and adjust the terms of participation in a project in favor of the investor.
- Formation of a plan to eliminate risks and correct the structure of the deal. The results of the due diligence for land purchase make it possible to determine the list of actions that must be performed when preparing the transaction (f. e., obtaining the consent of the spouse). During the transaction itself, it helps to determine the areas of responsibility of the parties (f. e., a list of guarantees and assurances that must be included in the sales document).
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Contact Professional Lawyers In Dubai
If you want to get a site without problems, it’s better to appeal to an experienced lawyer nearby who will help you save your funds and provide expert consulting on any issues related to due diligence for land purchase.