Selling a house might sound easy to some, but in reality, it’s an emotionally challenging and time-consuming process that needs your full attention. And if you want to sell the property you are currently living in, you might feel like an invasion of privacy.
That’s because strangers will come to your house and might criticize the place. But don’t worry because we have got your back. Whether you want to sell or buy property in Dubai, we can help you do it correctly. With some crucial information, you can avoid common pitfalls.
Things to Consider When Selling Your House
If you have a freehold property in Dubai that you want to sell, you should try to keep the process as simple as possible. However, if you are putting your property for sale in Dubai for the first time, you might wonder how to initiate the process.
But don’t worry because you are not alone. Like you, many people have questions regarding how and where to begin the property for the sale process. That will, however, end with this post.
Find a Real Estate Agent
Enlisting a property for sale in Dubai can be very daunting. That’s why you should find a broker to simplify the process. When selecting a broker, make sure you choose one registered with the Real Estate Regulatory Agency in Dubai.
Such real estate agents are trustworthy and honest with their work. Thus, you can trust them. In addition, working with a broker makes the selling task easy because brokers can walk you through the legal complications and other important things involved in the process.
Correctly Advertise Your Property
Promoting your property is essential for garnering interest and ensuring its visibility in the competitive real estate market of Dubai. Without effective advertising, your potential buyers may remain unaware of the unique features and benefits your property has to offer.
While your real estate agent will undoubtedly list the property online, it's equally crucial for you to actively participate in promoting it. Engage in conversations, share information about your property with friends, family, and colleagues, and leverage social media platforms to reach a wider audience.
Beyond advertising, maintaining the presentation of your property is key. Ensure it is immaculately clean, free of clutter, and aesthetically pleasing. Investing in decoration and necessary repairs not only enhances the visual appeal but also adds value to your property. By presenting your property in its best possible condition, you significantly increase the likelihood of attracting serious and interested buyers, ultimately maximizing the potential return on your investment.
Signing Form F
Once the broker has helped you find a potential buyer, it’s time to sign FORM F. This form is a Memorandum of Understanding and a contract between buyer and seller.
This process is important because FORM F contains important information, including price, selling cost, property details, transfer date, name of the party, and other details.
Since FORM F is a legal contract, you need to check it twice before signing.
Underestimating the Cost of Your Property
Most people underestimate the cost of their property. That’s because they don’t calculate the amount that they put for repairs and other stuff. Also, they forget about closing costs that can roughly increase the property’s price by 10%.
Another thing that property owners like to do is set an unrealistic price. There is a fine line between overestimating and underestimating. So make sure that you hit the sweet spot between the two lines to get a fair deal.