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Introduction
Looking to sell your property in Dubai? Let our experienced team assist you in navigating the market, setting a competitive price, and reaching qualified buyers. With our expertise and comprehensive marketing strategies, selling your property has never been easier.
General steps
The general process to sell any property are:
Determine a competitive and realistic selling price by evaluation of your property and research the current market trends.
A reputable real estate agent with experience in the Dubai market can assist you with the selling process, marketing your property, and negotiating with potential buyers.
Ensure your property is in good condition and presentable.
Gather Required Documentation: Collect all the necessary documentation related to your property, including title deeds, building completion certificates, NOC (No Objection Certificate) from the developer, and any other relevant paperwork.
Work with your real estate agent to market your property effectively.
Consider multiple offers and choose the most suitable one for you.
Work with the Dubai Land Department and your real estate agent to finalize the transfer process.
Once the transfer is complete, coordinate with the buyer to hand over the property keys.
It's important to find an agent
A real estate agent is essential for a successful property sale in Dubai. They possess market expertise, accurate pricing strategies, and a vast network of potential buyers. With their negotiation skills and legal knowledge, they ensure a smooth transaction. Hiring an agent saves time and stress while maximizing your chances of a successful sale. Don’t underestimate the importance of a real estate agent for selling your property in Dubai.
Selling procedures in Dubai
RERA Form A
Once you have selected a real estate agent, it is important to enter into an agreement with them. This involves completing FORM A, one of the RERA forms, which officially authorizes the agent to market and broker your property. FORM A includes crucial information such as property details, agent commission, service charges, payment schedules, mortgage status (if applicable), and listing details. After signing FORM A, it is submitted to the DLD’s Trakheesi system for approval. Upon receiving approval, you will be issued a permit number, allowing you to proceed with advertising your property.
Find a buyer
Work with your real estate agent to market your property effectively. This may include professional photography, creating listings on property portals, utilizing social media platforms, and other marketing strategies to attract potential buyers.
RERA From F
The Memorandum of Understanding (MOU), or FORM F, serves as the sales contract between the buyer and seller of the property. This legally binding document outlines all the agreed-upon terms and conditions, including price, property details, selling costs, names of the parties involved, transfer date, and other important contract specifics. It is crucial to carefully review and ensure the accuracy of all information before signing FORM F, as it signifies a commitment from both parties. Additionally, the buyer is typically required to make a down-payment at the time of signing, further solidifying their commitment to the purchase.
You need NOC
In order to sell a property in Dubai, obtaining a No Objection Certificate (NOC) is necessary. The Dubai Land Department requires an NOC from the property developer, confirming that the seller has no outstanding debts or liabilities and that the developer has no objections to the sale. The charges for obtaining an NOC vary among developers, typically ranging from AED 500 to AED 5000. It is important to note that the NOC fee is an additional cost associated with selling property in Dubai. The issuance of the NOC generally takes approximately five to seven working days.
Process ownership transfer
The final step in the process of selling a property in Dubai is the transfer of ownership. This requires all parties involved – the seller, buyer, and agent(s) – to visit the nearest DLD trustee’s office. During this visit:
- The buyer will make the remaining payment for the purchase price.
- The seller will pay the transfer fees to the DLD.
- A new Title Deed will be issued in the buyer’s name, officially transferring ownership of the property.
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