Everything You Need to Know About Selling Property in Dubai

1. Check Out Which Agents are Working in Your Area

The very first line of action should be finding out the reliable and reputable real estate agents, specializing in your property segment, working in your region in Dubai. Collaborating with them will help you decide on the price tag of your property sensibly. 

If you price it too high, your neighbors will benefit by drawing your buyer’s attention. If you tag it with a modest price value, you will bite your fingers in frustration knowing how other properties in the neighborhood handsomely profited better than you. Being sensible and judicious in this regard will come from guidance rendered by the authorized and licensed real estate specialists working in your area. 

So, how to find them?

Download the “Dubai Brokers App” to access the RERA broker list. It displays all the verified and licensed brokers in your area. The Real Estate Regulatory Agency (RERA) website contains useful information on genuine real estate agents and also enlists reliable guidelines for safe transactions. You just need to choose the one that has a successful history of selling properties in your specified area in the city. 

2. Check DLD Transactions 

The reason to include this point is to equip you also with the resources to find out on your own if you are pricing your property correctly. The real estate specialists or agents will help you, ok. But be resourceful as well. 

Tracking the recent DLD transactions in your area, the property segment you are trying to sell, the percentage of changes in prices yearly, and other useful data will be helpful. Some websites feature online property evaluators, or you can simply download free property evaluation tools on your handset. It can instantly assess your property's market value correctly. The findings and other data would keep you informed. And it helps. 

3. List Your Property for Sale with Exclusive Broker

You must take your property virtually to the secondary market, where a pool of buyers is looking for similar choices. This is a digital era, and Dubai takes pride in being heavily digital-savvy. It is a smart megacity, so word-of-mouth advertisement will not always help. 

Remember the data we shared at the very beginning of the blog? Well, it is the secondary market transactions where properties in the listings sites of reputable real estate agents get sold at attractive prices. It is not any other way. 

People buying resale properties search for their options in the listings of Dubai’s RERA-certified real estate brokers/agents. APIL Properties is a RERA-authorized agency offering brokerage and a comprehensive list of real estate services in Dubai and Abu Dhabi. You are welcome to list your property with us as you are reading this blog, or opt for other choices you have. 

Make your property visible to buyers. And, listing your property would help you quickly find the right buyer who would pay you right as the real estate broker keeps the line of communication clear and mess-free. 

4. Time to Stage Your Property Like A New Bride

Do not laugh or be offended reading this line. It is the most straightforward statement we could think of to express the importance. 

Your property needs to look its very best to stay ahead in the game and attract the buyer, both aesthetically and functionally. Attend to the cracks and spots on the walls, ceilings, plaster coming off from walls and ceilings, plumbing faults, scratches on the floors and doors, and any minor or major defects the property has. And then you schedule a property visit. Not before this. 

If you are feeling discouraged, calculating the extra expenses you will incur by attending to these repairs, you are in for more discouragement. Why? A buyer is not a fool, never in Dubai. A range of properties with lifestyle amenities and features are readily available in this city, whether off-plan or ready-to-move-in resale ones. Show them sub-standard ones and they will give you a plastic forced smile and walk out the door quicker with the broker. 

Spend a little now to attract a better offer for your property when it looks and feels better with a proper makeover. 

• Declutter the property and make it look more spacious with little furniture around. 
• Clean it properly before scheduling the property visit. 
• If possible, go for a neutral or lighter shade painting job if the existing wall colour looks dirty and faded. 
• Use a good curtain to make the rooms appear beautiful. 

5. Be Prompt in Your Replies/Responses 

If you are someone who hardly checks the incoming mails or attends calls whose numbers are not saved in the contact list, change the habit right now. Once the property is listed, expect to receive calls and mail, and try to open up a little. 

No need to go overboard and be courteous in responding to their queries and doubts willingly. Be prompt to their calls and be available as they reach out with the agents representing them. It is for your benefit only. Remember, there are several trying to sell their properties, so your aloofness and disinterest in going with the flow will push them towards other sellers. 

Do not be preachy and extra talkative as a salesperson, but be courteous for sure. 

Play the Game Righteously with Right Information

Else you will always be following the dictations of the real estate agents. We do not want it to happen with you. Remember the following:

1. You are a ‘Mortgage seller’ if you bought your property via mortgage and a ‘Cash Seller’ if you bought it by cash.
2. A 'cash seller' transacting with a cash buyer, the entire process (starting from signing the contract to property transfer) takes 2 weeks.
3. A mortgage seller dealing with a cash buyer, or a cash seller transacting with a mortgage buyer, would stretch the process by 30-60 days, approximately.
4. Posting photos of your property to advertise on social media platforms like Instagram is are good way to broaden your prospects.
5. Ensure the videos and photos given along with the property descriptions (features and property highlights with specific, precise details) on the listing site should be of high quality and eye-catching.
6. Email marketing, Local Networking, and Open House events are a few alternative ways (in addition to property listing online) to expose your property to potential buyers.
7. Go for buyers who approach you with pre-approval documents because it ensures the buyers are ready with the funds for instant payment on property transfer. It is good to know that their finances are in order.
8. Your Buyer will pay 10% of the Property Price as Security Deposit in an Escrow Account as you sign a contract with the buyer detailing the property aspects, selling details, and other vital data. You cannot withdraw it before the final transfer of the property’s ownership and you must show proof of ownership, like the usual property ownership documents. It protects the buyer’s interest.
9. Generate a Form A and MoU and upload it to the DLD site. Or, ask your real estate broker to generate Form F that authorises the agency to represent you and upload the documents on the Dubai Land Department Website on your behalf.
10. If you are an investor in an off-plan project and are at the stage of making a final payment but thinking about selling the property, it is doable. You can start capitalizing on the capital appreciation, as a lot many investors do. No need to do extensive listing or, as such, for it, then, but experienced brokers can guide you better to a more profitable deal. Ps. Pay your service Charges and get NOC from the real estate developer. 

Documents

1. NOC
2. Title Deed
3. Emirates ID or Passport & Visa
4. Sale Contract 
5. Proof of Payment 
6. MoU

The Fees the Seller Has to Pay to Sell a Home in Dubai

1. 2% of the sales price as a Dubai Land Department (DLD) fee.
2. Property registration fee: AED 4,200 (properties over AED 500,000) and AED 2,100 (for properties under AED 500,000).
3. Optional Mortgage discharge fee (for Mortgage Seller), anywhere from AED 500 to AED 1,500.
4. NOC fee anywhere between AED 500 and AED 5,000.
5. Sales progression fee.
6. 2% of the sales value Agency fee. Some agencies can charge more.

DLD Trustee Office Visit is Unavoidable. You need to collect your NOC, Service Charges clearance forms, and visit the Trustee Office. You can also authorise your real estate agent to carry out the process, representing you.

It marks the finalization of the property transfer process. A new Title Deed is issued in the name of the buyer after the final payment and the settlement of the transfer fees. 

Yes, absolutely!Grant someone the Power of Attorney.

A lawyer or a trusted RERA-certified real estate agent can be considered. It will empower them legally to initiate and carry on the selling process on your behalf. From finding the buyer to transfer completion, everything the appointed real estate agent or lawyer would do.

You finalize the deal (if you like the offer) remotely or virtually. You need to give an Electronic signature or send the signed document through a courier service. The real estate agent/lawyer would attend the Trustee Office on the day of transfer on your behalf, prepare all the important paperwork, and collect the funds once the property is finally sold.  

The process is not complicated but can be easily completed with the guidance of RERA-certified real estate agents. They can even sell your property when you are not in the city on your behalf.

In case you need guidance or personal assistance in selling properties in Dubai. Contact Us.

How to sell mortgaged property in dubai?

Collect a liability letter from your bank. As you get a buyer apply for a NOC from both the bank and the developer (if applicable). Block the property in the buyer's name to avoid any further transactions registered on the property and then complete the property transfer at the Dubai Land Department (DLD). It usually takes 30-60 days.

How to sell a property in Dubai?

Enlist your property in the listing sites of RERA real estate agencies online, post photos on Instagram, attend to property defects and stage it attractively, keep handy the documents, and pay the selling fees. As you find the buyer with the right offer, prepare the sales agreement, collect NOC if applicable and finalize the deal at the DLD office. Real estate brokers or agents can guide you to a hassle-free experience.

How to sell off-plan property in Dubai?

If you are an investor in an off-plan project and are at the stage of making a final payment but thinking about selling the property, it is doable. You can start capitalizing on the capital appreciation, as a lot many investors do. No need to do extensive listing or, as such, for it, then, but experienced brokers can guide you better to a more profitable deal. Pay your service Charges and get an NOC from the real estate developer.

How to sell my property fast in Dubai?

Contact a RERA real estate broker to speed up the property selling process in Dubai. They know the tactics to do the job with professional perfection.