When you’re selling your property or home in Dubai, you probably have a couple of goals in mind. You will be eager to ensure that your home sells for an excellent price and ideally sells rapidly.
But, aside from this, there are a few details you will need to bear in mind to ensure that you don’t run into any issues selling your property. Below, we have a full checklist for you to look at before you start the process of selling your home in Dubai.
First Impressions Are Everything
You do need to think about the first impression a potential buyer receives of your property. These days that will usually be an online image, long before they arrange a viewing. This is why paying for the services of a professional photographer can be the best option. Of course, you will need to give that photographer something to work with.
At the most basic level, you should be thinking about curb appeal, guaranteeing that your front garden looks neat and tidy. As for the interior, a minimalistic bright, open design is the best option to attract the most buyers.
Prepare To Promote
Next, you need to start promoting your property on the market. There is a range of different options here from online marketing to offline promotion. Each has their advantages and disadvantages so you’ll need to decide what the right strategy is for your home. You can discuss this with the agent representing your property.
Choose The Right Price
Most agents will agree to put your property on the market for a little more than its actual value. The reason for this is that buyers will often make offers undercutting your chosen selling price. This provides you with some wiggle room and ensures that your property will sell for what it’s worth.
Get The Documents You Need
If you want to make sure that the property sale occurs as rapidly as possible, you will need to have all the right documents ready. This includes the title deed or Oqood if you are selling an off-plan property. You may also require your passport and Emirates ID.
Sort Out The Mortgage
If you have a mortgage on your property, you will need to sort this out before you sell. This will involve gaining a liability letter from your bank. Once you have done this, your property agent can take you through all the appropriate steps.
The bank of the buyer will then start to pay off the mortgage. This will typically require you to sign a document authorising the loan settlement. While the buyer of your home settles the mortgage, your bank will handle the clearance documentation.
Passing Over Your Property
Next, you’ll need to give a copy of the NOC to the bank of your buyer. It will typically take about two or three days to get the documents ready for a transfer. After this, you will meet with all the relevant parties to arrange the legal transfer of the property.
Finally, once the buyer’s bank provides a guarantee letter, the home sale is more or less complete. You’ll receive payment from the buyer in the form of a manager’s cheque.