6 Steps to Sell Your Dubai Property

Selling property in Dubai can be complicated and challenging if you don’t know the process involved. You may not only slow down the process, but you can also seriously affect the cost of the property. You will need to learn what it takes to get everything done correctly and without any glitches. Here is your step by step guide to selling your property in Dubai.

Choose a Real Estate Agency

Dubai is one of the most popular and competitive real estate markets in the world at the moment. Because of that, it is essential to find a reputable real estate agency that will be able to sell your property fast and at a good price. The best way to distinguish the best from the mediocre ones is by their portfolios and property listings, for example, fazwaz.ae – at first glance, they may appear like just another property portal, but they are actually a broker and keep the process completely in-house. The benefit of this is that you’re working with just one company and mostly just the one broker, from start to finish.

Property Valuation

Sometimes, the crazy growth of Dubai’s real estate market is a bit too volatile and makes evaluating a property a complicated process. That is another argument why you need an experienced real estate agent to handle your matters as you may need to make some changes and further improvements on the property so that you will reach the highest possible selling price.

Receiving offers

If you are with a reliable and reputable real estate agency, you will start receiving offers in no time. At this point of time, the ball is in your court, and it is up to you to decide if you wish to go with an offer that’s on the table.

Agreeing to Sell

Once you make your mind and accept an offer then it’s down to paperwork, payment procedure, and a handover date. The real estate agencies and the agents complete most of these processes. For them, it is a simple routine and that they do every day.

Assemble all the necessary paperwork

Many of the documents will need to be obtained by you and your buyer. Listed below is what’s required to complete the Transaction:

• NOC – no objection of understanding
• Memorandum of understanding
• Copy of your passport
• Manager’s cheque
• Genuine title deed
• Oqood if you are selling an off plan property
• Additional documents required by DLD

Transfer Property Ownership

By this point, all the paperwork is verified and completed. Now it is time for you (the seller), the buyer, the real estate agent, and a mortgage agent (if needed) to meet in either the developer’s office or in the registration trustee office to finalize the purchase. After signing the papers, you will need to wait for the bank to complete the transfer. The process is completed once the bank confirms the transfer. That’s all you need to do to sell a property in Dubai.

Hopefully, this guide has helped you to learn all the steps necessary when selling your Dubai property. If we need to summarize, then the most crucial step is finding a reputable real estate agency, everything else is secondary. That’s the only way to make sure that the sale will go through smoothly and without any problems.