Handover
Handover
Also known as: Keys handover · Final delivery
Handover is the moment a completed off-plan unit is transferred from developer to buyer. The buyer makes the final payment, receives the keys, and takes the title deed.
At handover, three things happen at once: the buyer pays the final instalment, the developer delivers the unit, and the DLD issues the title deed.
Before handover, most buyers do a snagging inspection so the developer can fix any defects first.
After handover, the unit is fully the buyer's. They can move in, rent it out, or sell it.
For overseas buyers, handover can happen by proxy using a power of attorney. A local lawyer or broker completes the paperwork and snagging on the buyer's behalf.