Seller's Guide
Before Putting Your Property in The Market
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.
Find a reliable real estate agent
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.
Making property presentable
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.
Marketing your property
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:
- Professional home staging
- Professional photography
- Advertising the property on leading portals
- Premium paid marketing tools
- Premium sales services (conducting sales procedures without revealing any detail)
After finding a potential buyer
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
Obtaining a NOC
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.
Transfer of property ownership at Dubai Land Department
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:
- The buyer will pay the remaining amount of the property sales price
- The seller will pay the transfer fees to the DLD
- A new Title Deed will be issued in the buyer’s name.
Documents needed to complete the transaction
To complete the entire property sale process seamlessly, you need to carry the following documents:
- Form A
- Form F (MOU)
- NOC from the developer
- Copy of the title deed
- A cheque to the DLD office (usually a 4% transfer fee)
- Original passport, original title deed, visa and Emirates ID
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.