Selling Guide

How to sell property in Dubai?

There are many things to consider when you plan to sell your property in Dubai. To get a fair and deserving return for your sale, you must research the market value for the type of property you possess. Here is what you need to do when you plan to sell your property in Dubai.

Present your property

The presentation of your property plays a major role in helping you attract potential buyers to the market. By making the property look presentable you are giving yourself the best chance to sell it profitably. This in return will increase your chances of getting offers that are the highest possible value in the market. Before you present your property to the public, you should make sure that the property is repaired and maintained, and ready to sell.

Market appraisal

If you are working with a real estate agency, then they will visit your property and give a consultation to carry out a market appraisal. You can then get a property price for the property and have the most influence on selling your property in a competitive market. By working with Aarco real estate agents you will get professional guidance on the pricing based on the development, location, and property type. We will also give you the best property selling plans to get the best deals in the market.

List your property to sell

When you are listing your property for sale, you are required to sign a Form A along with a copy of the title deed and passport. Form A is a contract between the buyer and seller according to the RERA law in Dubai. This document will list the details of the property, the financial details like service charges, mortgage status, and payment schedules.

Start marketing your property

Marketing is an important aspect of selling your property. The right marketing process will help you sell your property early. Take professional photos of the property and give a detailed and attractive description in the listing. You can work with a real estate professional and market the property in the right way. At Aarco Real Estate we will give you a marketing campaign by generating leads through social media, emails, and through our website. We will promote your property to get a profitable return in the market.

Viewing of the property

When you work along with a professional property consultant, they will arrange many viewings with potential buyers. The agent will show the property along with providing detailed information and facts around the property and its surrounding. This gives you a better chance to sell your property quickly. If there are any leads, your agent will report back to you and negotiate on your behalf.

Agreement terms

Once you find a serious buyer for your property, both seller and buyer must sign a Memorandum of Understanding also known as Form F. at this point, the buyer will issue a 10% security deposit for the property. 

Mortgage terms

If you are a mortgage seller, then the buyer will have to settle the mortgage before the NOC being issued. This will require banks’ involvement. Start the process with your bank and then sign the MOU to save some time.

Apply for the NOC

Both seller and buyer must be present at the developer’s office to apply for the NOC to sell the property. The fee will be AED 500-5000 depending on the developer. Once the developer is content with the amount, the form will be issued under the guidelines.

Handing over utilities

Once the contract is finalized you must start the process of disconnection with your utility provider. At this point, all parties involved in the property transfer should know the date and finalize the process.

Obtaining the NOC

Once you obtain the NOC, the parties can go to the Dubai Land Department to transfer the ownership. With an official payment for the transfer in the form of a manager’s cheque, the seller can transfer the official documents to the buyer. The fee is usually AED 4000. Once the formalities are completed, the new title deed will be issued and any other service charges will be paid by the buyer.