Sell Your Property in Dubai – A Complete Guide

There are many things to consider when selling property in Dubai and working with right agent to guide you through the sales process is essential. A trusted agent who understands the local very well, Azco Real Estate has many years of experience in helping clients sell property in Dubai.

Property Presentation & Images

Presenting your property in the best light will not only help you sell your property quicker, but it will also influence offers and returns on investment. Make sure gardens are neat and tidy, give your home a fresh lick of paint, put flowers on display and invest in a deep clean or thorough tidy.

Market Appraisal for sell your property in dubai

Consistently abreast of factors influencing Dubai property prices, one of our advisors will carry out a market appraisal on your property and advice on achievable sales price as well as the strategy for selling your property. It is advisable to set a realistic price.

Marketing your property through various mediums

As one of the best property consultants in Dubai, AZCO will market your property to the widest possible audience via marketing channels that include the following:

Professional photography

360 degree video

A complete home walkthrough virtual video

AZCO Website

Website listings on major local property portals like PropertyFinder, Bayut and more

Banners

Press advertisements and brochures

Procedures to sell your property in Dubai

Buyer and seller agree terms.
A Memorandum of Understanding (MOU) is signed and a deposit (usually 10%) is paid.
The parties meet at the offices of the developer to apply for a No Objection Certificate (‘NOC’) to sell the property.
The developer will usually issue the NOC against a payment of a fee once the developer is satisfied that any amount due to the developer in the form of service charges have been settled in full.
Once the NOC is issued, the partied can go to the office of the Dubai Land Department to officially transfer ownership.
The Dubai Land Department will insist on payment of the purchase price being made in the form of a manager’s cheque made payable to the seller on the date of transfer.
Once formalities are completed, a new title deed will be issued in the name of the buyer.
If the buyer is purchasing with a mortgage, then the bank’s involvement will be required.
If the seller has a mortgage on the property, the buyer is required to settle the seller’s mortgage in full prior to the NOC application. This increases the risk for the buyer and means the transaction is more complicated

Costs Involved:

The following fees will generally apply to the sale and purchase of real estate in Dubai:

NOC fees – these can range between AED 500 and AED 5,000 and are payable to the developer, usually by the seller.

Several developers also levy a refundable deposit upon the buyer which is only refunded when the buyer presents the new title deed at the developer’s office and their records are updated.

Real Estate Agent’s commission is 2% of the purchase price.

Transfer fees – these are calculated at 4% of the purchase price with an additional amount paid towards Admin fees which currently is not in excess of AED 5,000 and is paid to the Dubai Land Department.

Mortgage registration fees (if applicable) are calculated at a rate of 0.25% of the registered loan amount and paid to the Dubai Land Department.

Developers ask for their annual service charges to be paid in advance and buyers should therefore account for their pro rata share upfront.

Documents required for every seller: –

For Individual sellers:

Original passport

Original title deed

For Corporate sellers:

Original title deed.

Original certificate of incorporation / trade license.

Legal translation of the memorandum and articles of association.

Original certificate of good standing (not more than 3 months old – 5 days old if onshore corporate seller).

Original certificate of Incumbency (not more than 6 months old) Copy of shareholder(s) passport(s).

Original resolution approving the sale or purchase (as the case may be) Original power of attorney Attorney’s original passport.

If you are looking for the company that will swiftly help you to sell your property in Dubai, contact AZCO on 04 558 7741.

Get Social

Guide

Sell Your Property in Dubai – A Complete Guide

Tags

Popular Journal

Dubai Tenancy Law: Know Your Right as a Tenant

What Are the Requirements for an investor visa in Dubai?

Know your right as a landlord in Dubai

Tags

Newsletter Subscription

Guide

Sell Your Property in Dubai – A Complete Guide

Tags

Share:

Related Journal

Search Articles

Popular Journal

Dubai Tenancy Law: Know Your Right as a Tenant

What Are the Requirements for an investor visa in Dubai?

Know your right as a landlord in Dubai

Tags

Newsletter Subscription