Brand new high-rise apartments and modern villas with stunning living spaces are coming to the market all the time in Dubai, meaning sellers may need to work a little harder to yield a lucrative return on their investments.
We can help with this 10-step seller’s guide, packed with valuable advice from our local property professionals.
Step 1: Hire a RERA Qualified Agent
Work with a qualified real estate agent in Dubai with inside out knowledge of the local market and a solid reputation for providing good client services. Contact one of our RERA certified agents for professional advice and guidance on selling your home.
Step 2: Appraise Your Property
Arrange a face-to-face meeting with your agent for an accurate valuation of your home and detailed market analysis of similar properties in the area. This will help you set a fair price to attract the right buyers. Remember, the advertised price is often not the final sale price.
Step 3: List Your Property Exclusively
Consider listing your home exclusively with one agent for a better-quality sale to attract the right buyers and your dream price. It also comes with less stress, not having to deal with multiple agents and scenarios.
Step 4: Hire a RERA Qualified Broker
A licensed and qualified broker can market your home effectively to a strong network of buyers and represent your best interests at negotiations. Contact one of our RERA qualified brokers to help sell your property.
Step 5: Consider the Timeline
When selling properties in Dubai, a sale can complete within seven to 10 days between a cash seller and a cash buyer. Where the property is financed through a mortgage, the full process can take up to two months.
Step 6: Prepare Your Property
Deep clean and declutter your home and tidy up the landscaping to create a welcoming vibe and maximise its sale value. Your broker can help arrange a professional photographer to create high quality marketing assets to reach potential buyers.
Step 7: Prepare Your Paperwork
Avoid any delays in the sale process by having all the required paperwork ready. These include your valid passport and visa( if you’re an expat), the Title Deed (apply as soon as possible if you don’t have one), the Affection Plan, maintenance fees receipts, Dubai Electricity and Water Authority (DEWA) bills, and the tenancy agreement (if applicable).
Step 8: Accept an Offer and Pay Off Your Mortgage
Once you have accepted an offer, you will enter into a legally binding agreement with the buyer called Memorandum of Understanding (MOU) which outlines all the details and terms of the sale.
If you have a mortgage with a bank, you will need to apply for a Liability Letter stating the total outstanding amount to be paid. This can take up to two weeks. Then, the buyer will need to settle the mortgage in order to obtain a Clearance Certificate, the original Title Deed, and all other security documents.
Step 9: Apply for the No Objection Certificate
Your broker will apply for the No Objection Certificate (NOC) from the developer to ensure the property has been fully paid for and is free from any outstanding charges or maintenance fees. This can take up to seven working days.
Step 10: Complete Your Sale
Visit the Dubai Land Department to complete the transfer of property ownership to the new owner and receive your payment in the form of a manager’s cheque. A new Title Deed will then be issued to the new owner.
Ready to sell your home in Dubai? Get in touch with one of our Sales Specialists today.
