How To Sell Your Dubai Property

The first step in selling your home successfully is to determine the price at which it should be listed. The vendor may decide on it independently or obtain market research.

Our agents will qualify your home, recommend a reasonable price, and suggest a selling strategy while keeping up with the factors affecting Dubai’s secondary real estate market.

A real estate agent will offer an anticipated selling price that is fair and takes into account the recent sales of the closest properties that are most similar to yours.

The selling price may be expressed as a fixed amount, such as AED 500,000, or as a range, such as AED 500,000–AED 550.000, up to 10%.

Select A Method Of Payment

You have the option of selling your property through a private sale both off-market and on the open market, depending on your schedule and personal preferences.

If you have a villa for sale in Dubai off-market, only the buyer, seller, broker, and conveyancer will have access to the information regarding the transaction. Without making a large public announcement, a broker will provide a personalised offer to each prospective buyer from his portfolio.

Sales in a closed market are uncommon, but we exclusively offer them to VIP clients. We appreciate and understand the need for transactions to be conducted in confidence. Our team of committed, experienced agents is passionate about selling luxury or ultra-luxury villas for sale in Dubai. In this instance, our database of high-net-worth individuals is used to represent the homes to possible buyers.

Additionally, it’s the ideal technique for those who want to:

• keep the deal a secret owing to personal reasons;
• Avoid open house inspections because they require a lot of prep work, such as styling and cleaning before and after the open house day, and they also compromise privacy;
• Reduce marketing expenses, which are crucial for widespread promotion;
• lessen the stress of selling your house by using agents who will only bring in serious, qualified buyers;

When you have a villa for sale in Dubai on the open market, a range of potential purchasers will help you market. In this day and age, virtually all searches for homes start online; hence, it is to your advantage to first advertise your house on real estate portals. You can now list your property in the United Arab Emirates with Property Shoma. Due to Dubai’s unique characteristics as a cosmopolitan metropolis, it is effective to attract both domestic and foreign customers. A real estate company with a multilingual staff and connections to both the European and Asian markets would be very beneficial. As a side note, our staff is multilingual and speaks over ten languages.

An efficient and modern approach is the posting of brief videos about your property on TikTok and YouTube.

There is no need to disregard traditional forms of advertising like billboards, SMS, or emails since they still use lead pencils.

Marketing Your Properties On Sale In Dubai

Book a cleaning service, touch up the paint on the walls and make repairs as necessary to ensure that your property is spotless and smells fresh to attract purchasers.

According to the data, prospective buyers establish views about houses within thirty seconds; hence, the significance of the initial impression cannot be overstated.

When trying to attract buyers, don’t be afraid to spend more money on high-quality images and promotional movies that show off your property in the best possible way.

We both agree that it can be difficult to make your home stand out amid the other 10 that all seem the same. To do this, we have established a collection of efficient marketing tools that have been organised into three combos—Silver, Golden, and Diamond—to accommodate various needs and spending limits of house sellers.

Additionally, we provide our website with meticulous attention to detail, making it practical, simple to use, and enabled for quick search.

Initiation Of The Transaction Of Properties On Sale In Dubai

After the seller has received notification that the buyer has accepted their offer, the seller is responsible for being prepared with all of the necessary documentation for the transaction in which ownership is transferred. To ensure a seamless transaction, gather all documents pertaining to the property in advance. You will require a title deed, floor plans, a power of attorney, copies of your passport, guarantee certificates, and mortgage documents. Once a buyer is identified, the seller accepts the offer, and the parties then sign a memorandum of understanding in which the specifics of the property, the selling price, the transfer date, and other terms are determined (Form F, standardised by Dubai Land Department).

The document will be prepared by the real estate agents, and you can discuss and add additional conditions as needed.

The buyer pays a 10% deposit at this point to affirm their intent to purchase the property and to keep it off the market.

The buyer and seller should next file for a No Objection Certificate (NOC) at the developer’s office to prove they owe no service charges. It would be preferable if the seller paid all outstanding invoices and double-checked the balance in advance. The NOC issuing fees range from AED 500 to 1,500 and vary from developer to developer. In most cases, certificates are issued in 5-7 days.

The final stage, ownership transfer, which is registered at DLD, is when the formalities associated with filing MOU and NOC issues are resolved.

Properties On Sale In Dubai With Mortgage

The laws of the Emirate permit the sale of real estate with a mortgage. Such a transaction needs additional stages and is carried out a little differently than a typical one. A broker or layer must unquestionably provide professional assistance with a seller-buyer-lender plan.

The owner of the mortgaged property must first locate a buyer who will agree to pay off the outstanding balance of the loan. As a result, the smaller it is, the better your prospects are of finding new owners for your house. A damaged home sometimes provides prospective purchasers justification for requesting a lower price during negotiations, and sellers may have to offer a discount.

Due to the lender’s involvement, the seller is compelled to get a liability letter from the bank outlining the total amount of the outstanding loan. It should thereafter be cleared by the buyer or the buyer’s bank following the transfer. The developer will then give the seller with a No Objection Certificate (NOC). In order to prevent the seller from selling the property to a third party while the buyer pays off the mortgage, the property should then be blocked in the buyer’s name. Participants submit the related agreement after meeting at one of the Dubai Land Department trustee offices.

The seller’s next step is to deliver the buyer’s check to his bank and request the original title deed as well as the property mortgage release notification (clearing letter). These papers, together with a passport, visa, and Emirates ID, will be needed by the seller when they go to the Dubai Land Department (DLD) registration office to meet the buyer and finalise the ownership transfer.

Normally, the process of selling a mortgaged property takes 6 to 8 weeks. If the buyer obtains a new mortgage to pay for the purchase of the property, the seller’s mortgage won’t be paid off until the buyer’s bank has approved the loan, and the parties will have to wait until that time. It should be noted that no property blocking is necessary for this situation because the buyer’s bank will receive the original title of the deed after paying off the loan at the seller’s bank.

Off-Plan Properties For Sales in Dubai

Investors in Dubai are legally allowed to conduct off-plan properties for sale in Dubai before they are finished. The developer greatly affects the terms of off-plan properties for sale in Dubai. In the end, they prefer to limit similar transactions in order to maintain market stability.

When 30% to 40% of the total value has been paid off, the majority of developers in Du permit the sale of properties. Even so, each organisation establishes its own standards, so it is advisable to be specific about who qualifies.

Additionally, the Dubai Land Department may require that you pick up approvals. The seller proceeds with the transaction in the same manner as selling ready-to-move-in homes once he has made the minimum deposit required before the developer and obtained the necessary approvals. As for off-the-plan real estate sales financed by a mortgage, we advise extensively reviewing the developer’s resale regulations before closing.

The sale transaction is complete when the buyer’s name is shown as the new owner of the property on the title deed. Prior to that, the relevant payments must be made, including the broker’s commission, prorated service charge refunds, title deed fee of AED 580, registration fee of AED 4,000, and transfer fee of 4% of the property price.

Returning to the Dubai Land Department or one of its registration trustee offices, the buyer and seller or their legal representatives present the original passports, the MOU, the NOC, and the title deed. The DLD then authorises and issues the new title deed. The manager’s check for the proceeds of the transaction will also be given to the seller or its Power of Attorney at that time.

A full transaction procedure typically takes 3 to 4 weeks.

Following-Sale Activities

The utility companies should register the buyer as the new owner once the title deed is in their possession (DEWA and air-con providers). The applicable deposits and fees will be paid by the buyer, and the seller will receive a return of his deposit. These are general descriptions of the entire selling process for real estate in Dubai.