buying and selling property in dubai

Complete Guide To Selling Your Property in Dubai

Are you about to sell property in Dubai for the first time? This guide has everything you need to make the process smooth, even if it might feel a bit overwhelming. Whether you’re selling an investment property or your own apartment in Dubai, there are clear steps you should follow to successfully sell property in Dubai.

1. Before you list your property for sale in Dubai:

Starting the property sale process in Dubai can be quite confusing, especially if it’s your first attempt. Many individuals find themselves unsure of where to start and how to move forward, but that uncertainty stops now. Let’s begin by examining the essential steps you should take before actually selling property in Dubai.

2. Hire a Reputable Real Estate Agent:

mortgage broker

When you’re getting a real estate agent to help with selling your apartment or villa in Dubai, it’s important to make sure they’re officially registered with the Real Estate Regulatory Agency (RERA) in Dubai.

RERA-approved agents in Dubai all follow the fair and honest rules set by the Dubai Land Department (DLD). This means these agents are reliable, truthful, and professional. How can you know if an agent is approved by RERA? Just ask to see their RERA card.

But with so many RERA-approved agents to choose from, how do you pick the right one for you? To figure that out, consider these things:

Do they specialize in and have a good understanding of the area you’re interested in?

For instance, if you’re selling your apartment in Dubai Marina, find an agent with a strong history of successfully closing property deals in Dubai Marina and nearby neighborhoods.

Do you work well with them in a professional way?:

This matters because you need a property agent who presents the complete picture, including the positives, negatives, and challenges. Plus, you should feel comfortable sharing your concerns and seeking their expert advice when necessary.

If your Dubai property agent meets the criteria mentioned above, you’re all set. They will lead you through the process, assist in setting a fair selling price, create a solid plan to market your property, and support you in selling your property in Dubai.

3. Form A:

Once you’ve chosen a real estate agent, make it official by signing an agreement with them. To give them permission to market and help sell your property, you’ll need to fill out FORM A, a RERA form. This form covers things like property info, agent commission, fees, payment dates, mortgage status (if any), and listing details. After you sign FORM A, it goes to the DLD’s Trakheesi system for approval. Once approved, you’ll get a permit number to start advertising your property.

4. Advertising Your Property:

Selling property in Dubai or anywhere requires getting the word out. To attract buyers, you need to let them know and show them what’s available. Your real estate agent handles this by putting your property on websites like Ayana Properties and promoting it in newspapers, social media, and other places.

new property ownership

A big part of promoting a property is how it looks. This is where “property staging” comes in. You want your Dubai property to look great in pictures, videos, and 3D images used in ads. Also, potential buyers will come to see it in person. The first impression matters, so using a few tips to sell property in Dubai can be really helpful. Get your property ready for sale.

To make your property appealing to possible buyers:

  1. Keep it clean.
  2. Clear away clutter.
  3. Open the windows for a bright and open feel.
  4. Decorate to make it look nice.
  5. Fix anything that’s broken or needs repair.

5. Once Your Have the Buyer:

It could take some time to find the right buyer for your Dubai property. When you do, here’s what you need to do next.

Signing FORM F

FORM F, also known as the Memorandum of Understanding (MOU), is like an agreement between the buyer and seller of the property in Dubai. It has all the things both of them agreed to, like the price, details about the property, costs, names of the people involved, when the property will change hands, and other small details of the deal.

Complete guide to selling your property in Dubai

It’s important to know that once both the buyer and the seller sign this dated FORM F, it becomes a real contract that they must follow. The agent(s) watch them sign. So, it’s a good idea to read it carefully and make sure everything’s right. When signing FORM F, the buyer also pays a down payment to show they’re serious about buying.

Getting The NOC

To sell property in Dubai, you need No Objection Certificate (NOC). This is like a permission slip. When you’re almost done selling, the Dubai Land Department wants a letter from the property developer. This letter says you don’t owe them any money and they’re okay with the sale.

The cost of getting this permission can be different depending on the developer. Usually, it’s between AED 500 and AED 5000. This cost is added to what it takes to sell your property. It might take about five to seven workdays to get the letter. To ask for the NOC, you’ll need certain documents.

  1. If it’s a off plan property, you need the Title Deed or Oqood.
  2. Your Emirates ID or passport with a valid residency visa.
  3. A copy of FORM F.

Transfer of Ownership

buying and selling property in dubai

The final step in selling property in Dubai is transferring ownership. To do this, everyone involved – the seller, buyer, and agents – has to go to a DLD trustee’s office nearby. Here’s what happens there:

  1. The buyer pays the rest of the money they owe for the property.
  2. The seller pays fees to the DLD for the transfer.
  3. A new Title Deed is given to the buyer, showing they own the property now.

For an easy transfer of Dubai property ownership, make sure you have these papers:

  1. Form F (MOU) – the agreement you signed.
  2. NOC from the developer – their permission to sell.
  3. Copy of the title deed – a paper that shows you own the property.
  4. A cheque for the seller (the rest of the money you’re paying).
  5. A cheque for the Dubai Land Department (usually 4% of the property’s price).
  6. Your Passport, Visa, and Emirates ID (buyer and seller).

6. Selling Property with Existing Mortgage?

Can i sell my property if the property has existing mortgage? The answer is YES. You can read our detail blog if you want to sell your property with existing mortgage.

7. In Conclusion:

To sell property in Dubai, you’ll need these papers:

  • FORM A for marketing your property in Dubai.
  • FORM F for selling the property in Dubai.
  • NOC from the developer to prove you don’t owe anything.
  • Passports with valid visas for NOC
  • The original Title Deed to transfer the property to the buyer

Throughout the process, consider seeking guidance from legal professionals, real estate agents, and financial advisors to ensure a smooth and successful property sale in Dubai.

Remember, the process of selling a property in Dubai can be complex and is subject to local regulations. It’s recommended to consult with professionals who are experienced in Dubai’s real estate market to navigate the process smoothly and effectively.

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