If you want to sell your home quickly and for a higher price, prioritize making it look its best by fixing any cracks, flaws, and maintenance issues, cleaning it thoroughly, painting if needed, and tending to the garden. Buyers may not have the necessary imagination or experience to appreciate a property's potential value, so take care of repairs beforehand.
A real estate expert will conduct an on-site analysis of the current real estate market
situation and provide pricing suggestions based on property type, location, and
development. Our agents will develop a strategy to maximize your home's selling
potential.
DXBinteract provides online tools with reliable information on previous transactions,
rentals, and relevant data to help you make informed pricing decisions for your property
You need to sign Form A or Contract A by the Dubai Land Department and share a copy of your passport or Emirates ID and title deed or good to list your property. The above is a prerequisite for listing your property. Form A is a contract that must be in place per the law to sell or advertise any property in Dubai. This contract is between the seller and broker, as it outlines all the requirements. To advertise the property, the broker will apply for marketing permission.
To successfully sell your house, marketing is crucial. Listings with professional photos and descriptions, upgraded to a premium level, have a higher chance of selling within the first four weeks. Our agents use email and social media campaigns to reach a larger audience. It's important to choose an agent with knowledge of various marketing platforms and access to premium tools that can enhance exposure. We leave no detail overlooked when promoting your property to its full potential.
Your property consultant will coordinate the viewings with interested parties. Our expert
will keep you updated on new leads and negotiate with prospective customers on your
behalf (with your approval on the price range).
It is necessary to provide the agent with unrestricted and easy access. You may increase
the number of potential buyers interested in viewing your property by ensuring that the
agent has access to all the relevant documentation. In addition, this will make the
experience for the buyer go more smoothly.
The price and the terms of the sale should be negotiated between the parties once the
buyer is interested in purchasing the property. To establish a case for the buyer and
seller to reach an agreement on a price that is founded on facts and data trends, a
qualified agent is essential at this point in the process. When making an offer, it can
be helpful to demonstrate how serious the buyer is by including a cheque for the 10%
deposit. After reaching a consensus, it will be necessary for both parties to sign a
memorandum of agreement, which is also referred to as an MOU and Form/Contract F. It is
also possible to generate and execute this contract electronically online using SMS and
OTP, which would eliminate the need for printing and scanning.
In exchange for the full payment to the seller, the buyer will typically hand over a
security deposit equal to ten per cent of the purchase price of the property. This
deposit will typically be retained by the agency until the moment of transfer. Make sure
that the agency or its sales progression/conveyance department has a clear understanding
of the timeframe and processes to transact by providing a precise plan of what to expect
and when to expect it during the process. This will help to ensure that there are no
surprises.
Before the NOC can be given, the purchaser is responsible for paying off the seller's
mortgage. Therefore, the bank will need to become involved. It is recommended to start
the process with your bank or lender the same day you sign an MOU to save time with this
phase. On request, they will provide a letter stating their liability. When dealing with
specific banks, this could take up to two weeks.
A procedure is followed at the Dubai Land Department Trustee office to block the
property to safeguard the buyer from clearing the seller's mortgage if the buyer is
paying cash for the property. If the buyer intends to secure financing for the purchase,
the buyer's bank will work directly with the seller's bank to ensure the transaction
goes through without a hitch.
All parties will gather at the developer's office to apply for a No Objection Certificate
(NOC), which is required before the property can be put up for sale. Several developers
support online application submissions. The property developer will investigate to see
if there is any money owed in the form of service charges or instalments, both of which
need to be paid in full. The application for the NOC will be accepted by the developer
upon the payment of a fee that is typically between AED 500 and 5000 with VAT. This
amount is the maximum as per law.
Once an application for a NOC has been submitted, it is typical for someone from the
office of the developer to come and view the property. They will issue the NOC if
everything is in order. If this is not the case, they will notify the seller of any
changes that need to be addressed by getting approvals or reverting the property to its
initial state.
Some developers will additionally demand the buyer to make a deposit that is later
returned to them when they have presented the new title deed to the developer. It's done
to ensure that the records of the developer are kept up to date. (The processing time
typically ranges from one to five business days, although it may take significantly
longer depending on the kind of property, the developer, and the community).
Start the procedure of disconnecting your utilities by having a conversation with your service providers, such as DEWA (Dubai Electricity and Water Authority). At this point, all parties should be aware of the date on which the transfer and finalization will take place. When this is done in a timely manner, any further delays that may occur can be avoided. Typically, this may be done online, and it normally takes between 24 and 48 hours.
Following the issuance of the NOC, all parties can go to the trustee office of the Dubai
Land Department to officially transfer ownership of the property in exchange for money.
The DLD will require that the purchase price be paid in the form of a manager's cheque
that is made payable to the seller on the date of transfer.
Additionally, manager's cheques will be required for the 4% transfer fee and an
administrative fee that does not exceed AED 4,000 plus vat for ready properties that
cost more than 500,000 AED or AED 5,000 plus vat for off-plan properties.
For the properties with lower ticket prices, the costs are slightly less. After all of
the necessary procedures have been finished, a new title deed will be created and issued
in the buyer's name. At this point, the buyer will settle any prepaid service costs or
rental amounts with the seller on a pro-rata basis. These sums will be worked out
between the two parties.
With more than 50 international roadshows and over 10 billion of sales acheived, Allegiance is ranked as the UAE's #1 Off-Plan Real Estate Advisory. Contact Us to know more.
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