HOW TO SELL A PROPERTY IN DUBAI?

Are you planning to sell your property in Dubai for the first time? Our property selling guide will help you ensure the smooth completion of this stressful process. Whether it’s your investment property or your apartment in Dubai that you wish to put on the market, we have specific steps to sell property in Dubai that you need to follow. 

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1. Contact Umed Properties

When enlisting an agent to manage and market your apartment or sell a villa in Dubai, you need to ensure that they are registered with the Real Estate Regulatory Agency (RERA) in Dubai.
All RERA-approved real estate agents in Dubai follow the real estate business ethics principles outlined by the Dubai Land Department (DLD). This essentially means that these agents are trustworthy, honest, and professional in their dealings. How do you identify a RERA-approved real estate agent? Ask them for their RERA card.
Why consider Umed Properties;
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• We are experts in real estate investment in Dubai- For example; we have highly trained real estate agents plus successful track records in our past dealings.
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• Do you get along with them professionally? This is important because you want a property agent who paints the picture as it is, with all the good, bad and ugly. Also, you should be able to voice your concerns to them and look for professional advice where needed.
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Our agents will guide you through the process, help you with deciding a realistic selling price, define a thorough marketing strategy for your property and help you sell property in Dubai.

2. FORM A

As soon as you settle on us as your real estate agents for selling your property, we will sign an agreement with you. We will need FORM A – one of the RERA forms, to formally mandate the marketing and brokering of your property to the agent. This form includes property details, agent commission, service charges, payment schedules, mortgage status (if any), and listing details. Once FORM A is signed, we will submit it to the DLD’s Trakheesi system for approval. Then we will be issued with a permit number after approval to carry on with the property advertisement.

3. ADVERTISING YOUR PROPERTY

You cannot sell property in Dubai or anywhere in the world without people knowing about it. To attract potential buyers, we need to tell and show them what is up for sale. For the most part, it is us who will take care of putting your property up online and advertising in local newspapers, social media sites, and other platforms.
One of the most important elements of marketing a property is its presentation – how the world sees it. This is where Umed Properties comes in. We need to make sure your property for sale in Dubai looks good in videos, photographs, and the 3D imagery used for advertising it. In addition to this, we will have potential buyers coming in for property viewing. The first impression counts. Prepare your property for the sale.
For your property to be attractive to potential buyers
• It should be clean
• There should be no clutter
• Let the light in from the windows to make it look bright and airy
• Decorate to make it appealing to the eyes
• Fix and repair everything that needs it

BEFORE PUTTING YOUR PROPERTY FOR SALE IN DUBAI

Property sales in Dubai are very confusing hence the needs for professional and trained real estate agents like Umed Properties. A lot of people aren’t sure about where to begin and how to proceed, but that ends here. 

1. Contact Umed Properties

When enlisting an agent to manage and market your apartment or sell a villa in Dubai, you need to ensure that they are registered with the Real Estate Regulatory Agency (RERA) in Dubai. All RERA-approved real estate agents in Dubai follow the real estate business ethics principles outlined by the Dubai Land Department (DLD). This essentially means that these agents are trustworthy, honest, and professional in their dealings. How do you identify a RERA-approved real estate agent? Ask them for their RERA card. Why consider Umed Properties;
• We are experts in real estate investment in Dubai- For example; we have highly trained real estate agents plus successful track records in our past dealings.
• Do you get along with them professionally? This is important because you want a property agent who paints the picture as it is, with all the good, bad and ugly. Also, you should be able to voice your concerns to them and look for professional advice where needed.
Our agents will guide you through the process, help you with deciding a realistic selling price, define a thorough marketing strategy for your property and help you sell property in Dubai.

2. FORM A

As soon as you settle on us as your real estate agents for selling your property, we will sign an agreement with you. We will need FORM A – one of the RERA forms, to formally mandate the marketing and brokering of your property to the agent. This form includes property details, agent commission, service charges, payment schedules, mortgage status (if any), and listing details. Once FORM A is signed, we will submit it to the DLD’s Trakheesi system for approval. Then we will be issued with a permit number after approval to carry on with the property advertisement.

3. ADVERTISING YOUR PROPERTY

You cannot sell property in Dubai or anywhere in the world without people knowing about it. To attract potential buyers, we need to tell and show them what is up for sale. For the most part, it is us who will take care of putting your property up online and advertising in local newspapers, social media sites, and other platforms. One of the most important elements of marketing a property is its presentation – how the world sees it. This is where Umed Properties comes in. We need to make sure your property for sale in Dubai looks good in videos, photographs, and the 3D imagery used for advertising it. In addition to this, we will have potential buyers coming in for property viewing. The first impression counts. Prepare your property for the sale.
For your property to be attractive to potential buyers
• It should be clean
• There should be no clutter
• Let the light in from the windows to make it look bright and airy
• Decorate to make it appealing to the eyes
• Fix and repair everything that needs it

ONCE WE FIND THE BUYER

It might be a while before we find the buyer we want to sell your Dubai property. When we do, here’s what you need to take care of;

1. SIGNING FORM F

FORM F, also known as the Memorandum of Understanding (MOU), is the sales contract between the buyer and seller of the property. It contains all the terms and conditions agreed upon by both parties, including price, property details, selling costs, names of the parties, the transfer date, and other finer details of the contract. 

You should know that a dated FORM F is a legally binding contract once both the buyer and the seller sign it, with the agent(s) as a witness. So, make sure you thoroughly read through and check the accuracy of all details mentioned on it. At the time of signing FORM F, the buyer also makes the down-payment as a commitment to the purchase. 

2. GETTING THE NOC

You require a No Objection Certificate (NOC) to sell property in Dubai. To complete the sale of property in Dubai, the Dubai Land Department needs a NOC from the property developer, whereby the developer declares that the seller has no remaining debt or liabilities towards them and hence, they have no objections to the sale. 

Charges for NOC issuance vary from one developer to another. Usually, these charges fall between AED 500 and AED 5000. The NOC fee adds up to the cost of selling property in Dubai. It can take around five to seven working days to be issued. Documents required to apply for the NOC include:

  • The Title Deed/Oqood (for off-plan properties)
  • Your Emirates ID or passport with a valid residency visa
  • Copy of FORM F

3. TRANSFER OF OWNERSHIP AT DUBAI LAND DEPARTMENT

The last thing in this process of selling property in Dubai is the ownership transfer. For that, all the concerned parties – the seller, the buyer, and the agent(s) need to visit the nearest DLD trustee’s office. This is where:

  • The buyer will pay the remaining amount of the purchase price
  • The seller will pay the transfer fees to the DLD
  • A new Title Deed will be issued in the buyer’s name 

To ensure a smooth process for Dubai property ownership transfer, you need to carry the following documents:

  • Form F (MOU)
  • NOC from developer
  • Copy of the title deed
  • A cheque to the seller (for the balance amount of the purchase price)
  • A cheque to Dubai Land Department (typically for the 4% transfer fee)
  • Original passport, visa, and Emirates ID (buyer and seller)