A lot of people in Dubai are not aware of the extra costs that come with selling a property in the city. Here’s a list from our sales progression team of the usual costs that every seller should expect before making a big decision. However, there can be further charges depending on the situation.
To allow for the transfer of ownership you must apply and pay for an NOC from the developer of the property you are purchasing. This will allow for the transfer of ownership of the property to the new buyer. Once all outstanding service charge payments are finalised the developer will be able to provide an NOC. This also serves as a no objection to the sale of the property from the developer. The service fee will range between AED 500 to AED 5,000 + VAT depending on the developer and the type of property.
Working with a good agency can significantly increase your property’s visibility and attract quality buyers but you should plan ahead since this will also cost you. At Allsopp & Allsopp the agency fee is 2% + VAT
Both buyers and sellers will pay a sales progression fee of AED 7,500 in order to have a professional deal with the transfer of the property. A sales progression officer is worth their weight in gold and will handle all aspects of the transfer behind the scenes so long as you have your documents.
The DLD is a UAE government department that takes care of all real estate transactions in Dubai. DLD fee is 4% of the property selling price. Market practice is that this is paid in full by the Buyer, but it can be split between the Buyer and Seller if agreed.
If the seller has an existing mortgage on the property they are selling, a mortgage discharge fee will apply. This fee will be dependant on the bank where the mortgage is. Mortgage discharge fees often start from AED 500.
This will be the last fee to pay when selling a property in Dubai. This cost, again, will still vary on the sale price of the property. If the property cost is below AED 500,000 the fee will be AED 2,100. If it is above AED 500,000, the fee will cost AED 4,200.