How To Sell Your Property in Dubai ?
04 Apr 2023
Selling a property can be a daunting task, especially in a market as competitive as Dubai's. To make sure that your property gets the best possible price and sells quickly, it is essential to focus on the presentation of your property, carry out a market appraisal, list your property for sale, market your home effectively, show the property to potential buyers, and agree on terms with the buyer. In this article, we will go through these steps in detail to help you sell your property in Dubai.
Presentation of Property
Placing high priority on the presentation of your property is essential when you want to sell it in Dubai. To increase your chances of getting offers and the highest possible price for your property, make sure any cracks, defects or maintenance issues are dealt with before listing your property. A fresh coat of paint and a full clean of the property, along with ensuring that you have a tidy garden, if it is a villa, will help to make your property more attractive to buyers.
Your real estate consultant will carry out a market appraisal of your property. Proper pricing of the property is crucial to selling your property, so getting it right is key. The consultant will carry out a study to give you guidelines on pricing based on development, location and property type. Our online tools from DXBinteract.com will provide you with the knowledge you need to make a well-informed decision when it comes to pricing, with actual facts about recent transactions, rental information, and more.
Listing Your Property for Sale
To list your property, you will need to sign a Form A or Contract A by the Dubai Land Department and share a copy of your title deed/oqood and passport/emirates ID. Form A is a contract between seller and broker outlining all the terms and must be in place by law to sell or market any property in Dubai. The broker will apply for a marketing permit to advertise.
Marketing Your Home
Marketing your home right is very crucial to get a sale. Roughly 70% of homes sell in their first 4 weeks of coming onto the market. Professional photos and descriptions in listings that are made premium and featured on all available portals will secure the widest audience possible. We also generate leads from social media and email campaigns with extended smart reach. Having the right agent who has access to and understands the dynamics of the different marketing channels is key.
Showing the Property to Potential Buyers
Your property consultant will arrange viewings of the property with potential buyers. As an industry specialist, your agent will not only show the property, but offer information and answers to questions about the property, community, price, and all related factors around selling your property. Your agent will report back to you on solid leads and facilitate negotiations on your behalf (and with your blessing on price range) with potential clients. Giving easy/unrestricted access to the agent is imperative to achieve the desired results.
Finalizing the Sale
Once the NOC is issued, the seller and buyer will be required to meet at the Dubai Land Department offices to transfer the ownership of the property. The transfer process usually takes around two weeks and involves the buyer settling the full payment to the seller, with the help of their bank if they are obtaining finance. The transfer process will also involve the payment of transfer fees to the Dubai Land Department, as well as other associated fees, such as agent commission.
After the sale has been completed, there are still a few things that need to be taken care of. The seller will need to cancel their utility and other service connections to the property, while the buyer will need to connect their own services. This may include arranging for DEWA (Dubai Electricity and Water Authority) and Etisalat (or other service providers) connections. It is also important for the buyer to register the property under their name with the Dubai Land Department to ensure that the property ownership is properly transferred.
Choosing the Right Real Estate Agent
Choosing the right real estate agent is crucial when it comes to selling your property in Dubai. You need an agent who has a deep understanding of the local market and can provide you with the necessary guidance and advice throughout the sales process. Look for an agent who has a proven track record of success and who can provide you with references from past clients. It is also important to choose an agent who is responsive and communicates effectively with you throughout the sales process.
Selling a property in Dubai can be a daunting process, but by following the steps outlined in this article and working with the right real estate agent, you can ensure a smooth and successful sale. Remember to prioritize the presentation of your property, price it correctly based on market research, market it effectively, and work with a skilled agent to negotiate the best deal for you. By taking these steps, you can sell your property in Dubai in a timely and profitable manner.