SELLER GUIDE

Are you interested in selling your property in Dubai? This Dubai real estate selling guide is everything you need to make sure a stressful process becomes as smooth and hassle-free as possible.

HOW TO SELL YOUR PROPERTY IN DUBAI

Getting started with Dubai real estate sales is probably the most confusing part, especially if this is the first time you have done so. Many are unsure of where to start or how to go, but this is where things come full circle. To start, let’s take a look first at what you have to do before you can really sell property in Dubai.

STEP 1: Find a reliable real estate agent

When hiring an agent to manage and market your apartment or sell your Dubai villa, you must make sure they are registered with the Real Estate Regulatory Agency (RERA) in Dubai.

All Dubai-approved real estate agents comply with Dubai’s outlined Real Estate Business Ethics Principles from the Dubai Land Department (DLD). This basically means these agents are credible, honest, and professional in their business.

STEP 2: Sign Form A

Once you have finalized a real estate agency, sign Form A with them.

You will get Form A from RERA — to officially give your property’s marketing and brokerage rights to an agent. This form includes details about the property, agent’s fees, maintenance charges, payments schedule, mortgage status if available, and listing details.

Once the A Form is signed, it is submitted to DLD’s Trakheesi System for approval. After approval, you are issued with an authorization number for continued advertising of your properties.

STEP 3: Advertising your property for sale

You cannot sell a property in Dubai, or any place, without people knowing. To get prospective buyers, you have to tell them about and show them what is on the market. For the most part, your realtor is going to be responsible for getting your property listed on online listing portals as well as putting ads in the local newspapers, on social media sites, and other platforms. One of the most critical elements in marketing your property is how it is presented — the way it is seen by the world. This is where “property staging” comes into play.

You have to ensure that your Dubai real estate property looks great on videos, photos, and 3D images used for advertising. Apart from that, you are going to get prospective buyers coming to view the property. First impressions are important, and following these tips to sell your property in Dubai will really help. Prepare the property to be sold.

STEP 4: After Identifying your buyer

After you have identified a buyer for your property, here are the next steps to take:

Sign a Form F

Also known as the Memorandum of Understanding (MOU), the Form F is the agreement to sell property between a buyer and a seller. It comprises terms and conditions agreed by the two parties, including the agreed upon price, information about the property, costs for the sale, names of both parties, date for the transfer, and other details about the contract.

A Dated Form F is a legally binding contract as soon as it is signed by both buyer and seller, with an agent as witness. Read and verify thoroughly the accuracy of all details mentioned in the Form F. During the signing of the FORM F, the buyer will also be making the down payment, which is the promise to buy.

Get a No Objection Certificate or NOC

You need A No Objection Certificate (NOC) to sell a property in Dubai. To finalize the sale of property in Dubai, Dubai’s land department requires an NOC from the developer, in which the developer states that there are no outstanding debts or liabilities on their part from the seller. Therefore, there is no objection on their part.

The fees for issuing an NOC differ for each developer. Typically, these charges range between AED 500 and AED 5000. NOC fees increase the costs of selling a property in Dubai. It may take about 5 to 7 working days to be issued.

Transfer of Ownership Processing at the Dubai Land Department

The final part of the property selling process in Dubai is transferring the property. All concerned parties, including the seller, buyer, and agent, must go to the nearest DLD trustee’s office to process the Transfer of Ownership.

At the DLD office, the buyer will settle the remaining amount of the agreed purchase price; the seller will pay the transfer fees to the DLD, and a new Title Deed will be issued under the buyer’s name.

Maple & Rose Property Selling Services

Here are more details on how we assist our clients in selling a property in Dubai:

INTERESTED IN SELLING YOUR PROPERTY IN DUBAI?

If you have a property to sell in Dubai and are looking for a credible and capable real estate agency with top caliber agents who can help fast-track your selling process, look no further and reach out to us!

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