I have a potential buyer that is interested in my property in Dubai. However, before signing the SPA, the buyer has informed me that he has not yet received a pre-approval for his mortgage from the bank. Should I continue to sign the SPA?

Answer:


  You should not sign an SPA with a Buyer if the Buyer is not a cash buyer and has not already obtained a pre-approval for a mortgage. Not having a pre-approved mortgage greatly increases the chances where the purchase will not go through.
 
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