Before advertising your property for sale, document yourself on where to begin, how to proceed and what the whole process involves. Thus, the selling process will not seem so daunting. With the proper knowledge and resources, you can secure a smooth completion and best price outcome for your sale.
Whether is your first time selling, or whether is your family home or investment property you sell, the guidelines we list in this blog will assist you on how to navigate the entire experience successfully.
After all, the ultimate goal is to sell it right and sell it fast.
Pick a reliable agency – Off Plan Finder Dubai
The right agency and the right real estate agent are a crucial step towards completing a successful property sale. The most important aspect is to check their background, credentials and longevity on the market. Secondly, the real estate company must have a valid ORN from the Dubai Land Department. Ultimately, the agent you nominate must have a valid RERA certificate from Dubai Land Department and must specialize in the area of your property location.
Off Plan Finder Dubai take pride on extensive network of local and international connections, which enables us to reach buyers worldwide. If you are selling your property in Dubai, our team of professionals will ensure accurate marketing price is set for your property while negotiating the best outcome between buyer and yourself. The key to any successful sale is based on two criteria – accurate pricing complimented by an effective marketing strategy. Furthermore, we pride ourselves on the large number of repeat clients who are referral customers.
List your property exclusively
Before you decide on an open listing or exclusive listing of your home, make sure you have a proper market appraisal carried out by one of the experts in the industry.
An agent specialized in your area will be able to give you an accurate indication and understanding of your home’s true value. They will use educated judgment based on local market expertise since they live and breathe real estate figures and practices. Proper pricing is important to ensure maximum selling potential for your property. After all, the whole purpose behind listing your property is to get maximum exposure. Once you realize how important it is to find the right agent, you will also realize the importance of exclusively listing your property with one agent. An Exclusive listing places a lot more accountability on the agent who will allocate more time and effort in sourcing potential buyers. It also promotes trust and loyalty between yourself and broker. Exclusivity with your listing will also narrow down the negotiation process and bogus offers or time wasters. Furthermore, the agent will be 100% motivated to push with all available resources and marketing strategies in order to sell successfully.
Relevant forms and documents
Your agents should clearly inform you about any relevant fees and documents associated with selling your property.
A Form A will be prepared between yourself and agent, stating a mutual agreement to have the agent acting on your behalf to find a buyer for your property. Furthermore, the form states the manner in which both parties agree to advertise the property and which portals. Similarly, it should include a comprehensive list of information about the home and mortgage details where applicable. The seller must provide copy of Title deed or Oqood in the case of off plan property. Additionally, copy of passport and Emirates ID will also be required for Form A.
Before advertising, it is important to have your home look as presentable and attractive as possible. Home improvements are necessary to enhance the look and ambiance of your home before it goes on sale. If the budget allows, you can hire the services of a good interior designer. They can assist greatly and suggest a fresh new look with furniture replacement or redecorating. For sure, any upgrades will stir up more buyers’ interest and fetch a better price. A flowless looking garden or nicely decorated terrace can make all the difference before viewings. Next, make sure your broker or real estate agency uses the latest marketing strategies to present your home in the best possible light.
Off Plan Finder Dubai provides free property evaluation based on current prices and latest sale trends in the area. We provide professional Photography and 360-degree videos highlighting the property. Off Plan Finder will advertise your property across print media, online property portals and social media platforms to maximize exposure and line up potential buyers. Our marketing tools include digital marketing, PPC campaigns, Google ads, third party portals, and overseas websites.
Found a buyer?
Then, it is time to sign the Memorandum of Understanding, which is the purchase agreement. Both seller and buyer will sign this form, also known as Form F. It is one of the most important RERA documents in real estate transactions. It stipulates the price and financial status of the property, as well as the commission value for seller’s agent and buyer’s agent. Both seller and buyer will sign the form with the agent present as witness. At this stage, the buyer must prepare to make a down payment, as part of his commitment to purchase the property. Similarly, if there is a mortgage on the property, the seller must obtain a liability letter from the bank and settle the loan.
Next, seller will have to apply for an NOC – No Objection Certificate, from the Developer. This is necessary in order to prove that there are no outstanding service charges due, for the property. Recently, DLD have increased the digitalization of services. So, homeowners or investors looking to sell can do so on line. The Dubai REST mobile application allows users to obtain the NOC electronically, with one click, instead of having to apply through developers’ office. The cost varies from AED 1000 to AED 5000 and takes around five working days to issue.
At last, you are ready to part with your property and is time to visit the Dubai Land Department to transfer ownership to buyer and issue a new title deed on their name. Seller, buyer and agent will have to be present for this procedure. But before you all shake hands, buyer has to clear all outstanding payment for the property, and seller has to pay transfer fees to Dubai Land Department.