Do you own a property in Dubai and plan to sell it? This comprehensive selling guide is all that you need to ensure the smooth transaction and completion of the process. Whether it is your holiday home or an investment property – property selling might be an unfamiliar process for you. Don’t worry! We have asked our real estate experts to divulge the secrets and a few basic practices to adhere to.
Before initiating the property sale process in Dubai, there are several things to take into consideration and finding the right estate agent is the first step.
The first and foremost important step is finding a reliable, professional and trustworthy real estate agent, who is registered with the Real Estate Regulatory Agency (RERA) in Dubai. Along with this, you must also check his previous successful transactions to pick one that is right for you.
Another important benchmark is checking the area, where they are dealing. For instance, if you are planning to sell your apartment in Downtown Dubai, you must pick an agent who has been operating in this and adjoining areas.
Moreover, be clear in your objectives such as transparency, realistic expectations and market conditions. Notify them to share marketing strategy with you and discuss the charges in the beginning and also ask them to adhere to the above-mentioned criteria only.
As soon as you finalize a real estate agent, you will have to sign an agreement with him. You will need Form A or also known as Contract A (a form issued by RERA) that allows the marketing and brokering of your property to the agent. This form includes all property related details including mortgage status (if any), payment schedule, service charges, and agent commission.
The quickest way to get buyers is to present your property in the best manner that can influence offers and get maximum returns on investment. A presentable property also increases the chances of getting offers and the highest possible price. Having a property in any upscale community in Dubai speaks volumes in terms of attraction but still, you need to follow a few home staging tips to elevate the chances of selling in a jiffy.
Upping your curb appeal is the first step toward selling your property. Mainly because those contemplating a visit to your property will often take a brief drive-by. This is the decisive point where they choose whether or not it is worth stopping in to see. Our experts recommend a fresh coat of paint, a tidy driveway, manicured lawn and a deep-cleaned home.
You may have a beautiful home but you cannot sell it without letting people know about it. And to attract potential buyers, you need to tell them that it is available for sale. How will you market your property? It mostly depends upon your real estate agent.
We offer premium services to our clients by taking care of every aspect. A few distinguishing services include:
Once you find a potential buyer for your property, you will have to sign a Form F – also known as the Memorandum of Understanding (MOU) between buyer and seller. This form contains all necessary information along with terms and conditions agreed upon by both parties including the price, names of both parties, the transfer date and all other minor details related to the transaction.
A signed Form F is a legal contract between both parties – with the agents as a witness. Therefore, you must be sure about reading it thoroughly before signing it.
To sell a property in Dubai, you need a No Objection Certificate (NOC). To complete the sales transaction, the Dubai Land Department needs a NOC from the property developer. This NOC declares that the seller has no remaining debt or liabilities toward the developer – so the development company has no objections to the sale.
The last thing in the process of selling a property in Dubai is the property ownership transfer. To complete the transaction, all concerned parties (buyer, seller and agents) need to visit the DLD’s trustee’s office.
At this point:
To complete the entire property sale process seamlessly, you need to carry the following documents:
Now you know everything you must know before selling a property in Dubai. If you have any other question, you can contact us and our team is always there to help you.