A Guide to Selling Property in Dubai

A Guide to Selling Property in Dubai

Thursday 21 January 2021Wed 16 Feb
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In Allsopp & Allsopp Real Estate’s first four days in business for 2021, we registered a record number of clients looking for a new home. If you are thinking of selling your property to buy a new family home or relocate, now may just be the best time. 

Here we talk through the steps you will go through to successfully sell your home in Dubai in 2021. 

Step 1 – Find a reliable broker

It is paramount for you to find an agent who you can trust and build, not only a professional but friendly relationship with. It is so important that you feel you can have an open and honest conversation with your agent. 

They will share advice and insight into the Dubai property market and the area you are selling in and will provide you with market appraisals and show you the prices of properties which have recently sold within your area. 

Step 2 – Do your own due diligence

In your mind, you already have a price you are willing to sell at but is this achievable and realistic in the Dubai property market? Jump on property portals and have a real good look around to compare your property to those that have sold in your area. Perhaps it would be helpful to look at similar properties in other areas and see what buyers can get for the sale price you have in mind for your own property. Market price indexes will be sent to you on a monthly basis, so you are aware of what is selling in your area and for what price. 

Step 3 – Consider going exclusive

Exclusivity with one Dubai real estate broker ensures your property is marketed with one message and in one specific way. This will avoid the potential of a multitude of differing adverts of your property, some of which can even display a different asking price than you had agreed with your broker. If you chose to market your property with one of our agents, you must sign a Form A. A Form A gives the agent permission to list the property online.  

Step 4 – Marketing

It is so important to declutter your home before the selling process begins. Your property will be professionally photographed, and you want this to be as clean and attractive as possible. If there are any snagging jobs to be done, we will advise that you complete these before we market your property.

Allsopp & Allsopp put a lot of time and money into the marketing of your property. We can take professional pictures, do 3D tours and virtual tours which may be boosted on our social media channels. We will conduct dedicated team call out sessions, email and SMS communication with our buyers. 

Step 5 – Viewings

Again, make sure your property is in the best condition before a potential buyer comes to view. We advise you to share property highlights with your broker. Tell them what it is that you love about the home! Perhaps it’s the sunset view from the balcony or the sunrise over your garden whilst you’re drinking your morning coffee. Our brokers can relay this message to potential buyers and point out aspects that are not obvious to the naked eye but could be a swaying point for a buyer. 

Step 6 – Sign the Agreement of Sale

The Agreement of Sale is the first stage in the formation of a formal contract. It is a binding agreement between the seller and buyer in Dubai outlining the terms and details of an understanding, including each parties' requirements and responsibilities. Your broker will run through this with you to ensure you are happy to go ahead before moving onto the transfer stage of the sale and make you aware of your requirements and responsibilities. The agent will also create a Unified Form F which is generated from the DLD REST App by the broker. This is a contract that is registered with the DLD. The Seller may need to take action with DLD to make sure their details are up to take to be able to create a Unified Form F.

Step 7 – Sale Progression

The Allsopp & Allsopp in-house sales progression team will be with you every step of the way to ease you through the sale process and make it as seamless as possible from the No Objections Certificate (NOC) from the developer right through to the transfer.  They coordinate between you as a seller, the buyer, the developer and the banks involved and with all the experience they have gathered over the years they are extremely proactive and know the process inside out.  Your sales progressor will make sure all of your documents are in order before beginning the process in order to avoid delays.

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