How to sell property in Dubai?

 

The sale of property in Dubai is done under the supervision of the Dubai Land Department (DLA) and the Real Estate Regulatory Agency (RERA). DLA and RERA have been established to provide transparency in the rights of buyers and sellers in Dubai. If you own a property in Dubai and are looking to sell, you need to have an in-depth understanding of the terms and conditions of property sales, as well as the procedures and required documents. Read the blog in detail to learn everything before selling your property in Dubai.

 

Required Documents To Sell The Property In Dubai

 

For Individual Seller

1. No objection e-certificate (E-NOC).
2. For non-residents, a passport is required. 
3. A title deed must be at hand. 
4. Seller and buyer's Emirates ID. 

For the Corporate Seller

1. The company should have a Title deed. 
2. A valid Trade License should be there. 
3. The incumbency certificate must not be older than 6months. 
4. Valid Passports of shareholders. 
5. Power of attorney and the passport of attorney are required. 

Tips to Sell Your Property In Dubai 

• Right and Reliable Agent: Firstly, you should hire an agent to list your property. The right broker or agent plays a significant role in finding a proper customer for your property. 
   
• RERA Form A: Fill this form and submit it to the Real Estate Regulatory Agency in Dubai. This lets the agent advertise your property on several platforms by using the required details. 
   
• Get a No Objection Certificate: To sell your property in Dubai, you must get a NOC from the government and pay the required fees to the officials. 
   
• Effective marketing strategies: Use advertising strategies such as beautiful images to make your property look attractive and provide a quicker response. Upload the advertisement on websites, social media platforms, and posters to reach a wider audience. 
   
• Set Realistic Price: When setting the purchase price, do not set it higher than the market price. Try to negotiate with potential buyers to maximize both parties' advantages. 
   
• Sign MOU: You should sign Form F, the Memorandum of Understanding between the seller and buyer, providing details like the property's price, names, and transfer dates. 
   
• Get New Title Deed: When the property is transferred in the buyer's name, the Dubai Land Department will issue a new title deed. This is the mandatory and final requirement for selling your properties. 

What are the costs involved in the sale of property in Dubai? 

• For NOC, the cost would be around 500-5000 AED, which is paid by the seller. 
• Issuance of Title Deed Certificate Fees will be charged AED 250 
• The cost for property transfer will be around 4 percent of the purchase price. 
• The registration fee, which is paid by the buyer, is AED 2,100-4,200, depending on the price of the property. 
• Two percent of the property's price is charged as the commission by the agent. 

Conclusion: All the details required to sell your property in Dubai have been described in detail. If you have read the above passages in detail, you may not face any issues while selling your property in Dubai. Further, if you have more questions, you can visit the official website of the Government of Dubai, and all the details are mentioned in the Land Department section, where you can understand the sales registration application process and requirements in depth.