Episode 20 - Buyers Beware

Property Talk from Louise's Lounge

Exclusive Links Podcast- Property Talk from Louise’s Lounge is all about keeping our audience in touch with current topics, sharing relevant and accurate information and introducing interesting guests and industry professionals. Today we bring to you Episode 20 of our Podcast “Buyers Beware” and who else better to protect our buyers than Cynthia Trench, Principal of Legal Consultants, Trench & Associates DMCC. Arriving in Dubai in 1989 from Hong Kong, Cynthia is a respected member and authority in the Dubai professional community. She specialises in corporate, property and private client law. Cynthia obtained her licence on 10 February 1996 from the Rulers Office of the Government of Dubai as the first female expatriate licensed Legal Consultant and in 2004, she was awarded Best Service Provider by H.H. Sheikh Mohammed bin Rashid Al Maktoum on behalf of his Establishment for young entrepreneurs. Cynthia played an active role in formulating the DIFC’s probate regulations, culminating in the new DIFC Wills & Probate Registry coming into effect in May 2015. In this episode, Cynthia chats with Louise more about the position of the buyer in a property transaction including the due diligence and checkpoints required.

• Cynthia talks through the standard sale contract ‘Form F’ and alerts all buyers that this is a contract that can be amended and added to with additional terms and conditions - so don’t be told otherwise!
• Louise delves straight into her favourite subject and main priority - the protection of clients in a property transaction. Cynthia walks us through the scenario when a seller, or indeed the buyer is a company and what checkpoints should be observed. So what is a UBO?
• There are scams out there so what extra steps should a buyer go through before buying property when the seller is represented by a POA?
• Where does a buyer check the authenticity of the sellers documents?
• If you are buying a property with a sitting tenant Cynthia explains how can you protect yourself as you fulfil your obligations as a new landlord.
• Did the buying process become easier in Dubai after the pandemic? Both ladies agree that some platforms and initiatives have been introduced to encourage buyers to invest in Dubai from afar. Do you want to know more how these may help you?

Thank you Cynthia for your time today and for sharing your experience to protect not only the buyers of property in Dubai, but the sale transactions themselves.

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