August 27, 2019
Dubai is a city of riches and wealth. This city looks magical. The Burj Khalifa tower, Palm Jumeirah beach, etc are looking straight out from a book of a fairy tale. Many people from different countries from the world live in Dubai because of their work commitments and other purposes. These people often buy properties for a living. When they come back they usually sell these properties. Often, local people of Dubai also put their properties for sale.
Only the homeowners of the freehold areas in Dubai are eligible for putting their houses for sale in Dubai. Anyone from any part of the world can buy these properties. Often real estate companies build projects in Dubai and sell them to the customers. It is a process. And Dubai is a hub for real estate transactions.
But selling your home may not be easy in Dubai. This place is strict in terms of rules and also brokerages apply. Hence, if you want to be safe you need to work as per the rules and guidelines. Here are some tips to sell g your house in Dubai according to the law.
Pick specialist agent
Yes, Dubai has different areas like all Barari, the I International city, etc. Some of these places have high-end properties while others have cheaper apartments or villas. It all depends on the location. It will be better if you ask help from a specialist agent. These agents are well known in the specific area and know the exact value of the property according to the law. They know how to market your property and how to sell it as fast as possible. Experienced agents are also reliable and trustworthy. Always choose a listed and authorized agent. Besides that, you need to sign an agreement with the agent that will make the agent able to market and sell the property. This form is called form A. You may also have to give some brokerage charges to the agent in some cases.
Keep your documents ready
As it was said before, the signing of form A is mandatory in case you want to sell your property. To sign this property you need some documents. These are-
- the title deed or Oqood of the property
- Our proof of citizenship if you are a citizen of Dubai
- If you are a foreign national then you need to submit your passport and the visa of UAE.
- These documents must be attached with the form for further processing.
Make your demands clear
You need to make your demands clear to the agent and the buyer. These will be helpful in many cases. You will be able to gain maximum profit and the buyer will be satisfied also.
Sign the form F after you have finalized the buyer
Your search of the perfect buyer is over and you have chosen the buyer. Your agent will now prepare a form F with the guidelines and conditions of selling the property between you and the buyer. Usually, the signing and registration of the property take place in the local property registrar’s office. But, if your buyer opts for bank finance or mortgage loan the bank may perform an additional property valuation with a third party and then decide on the loaning amount.
If you had taken a loan then you need to get a NOC from the bank and the developer so that you can sell the property. There are also some short processes before you finally hand over the property to its new owner.