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Q.
When buying a condo hotel in Dubai, how do I arrange
for mortgage financing? What is the down-payment percentage?
A. Typically in Dubai, 100% of the purchase price is
paid in advance of closing and taking possession of
the unit. Having said that, some developers, including
the ones Condo Hotels Dubai works with, provide seller
financing of up to 50%. While 50% down is more than
the 20% down that we typically see required for U.S.
condo hotels, the much lower prices on Dubai property
keeps them affordable.
The
above question was submitted via e-mail by a visitor
to www.CondoHotelsDubai.com.
The answer was prepared by Joel Greene, a licensed real
estate broker, who specializes in condo hotels and the
Dubai real estate market.
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