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Sellers guide

Getting Ready to Sell your Property! 

Many of existing homes are sold monthly and, while every transaction vary, all property owner wants the same thing: the best possible deal with the least amount of hassle.

Dubai property selling has become more complex than it used to be. Amendments of rules and regulation from the Land Department, procedure and processes of submitting documents, pre-formatted Agreements and a range of other concerns have all emerged in the past couple of months if not years.

Basically, property selling method has changed. Buyer brokerage/Agents, Seller’s Brokerage/Agents is now common here in Dubai and good buyer-brokers want the best for their clients.

As a result, while hundreds of existing homes may be sold each month, the process is not as easy for sellers as it was five years ago. Surviving in today’s real estate world requires experience and training in such fields as real estate marketing, financing, negotiating and closing the deal.  So here are some tips for you as a Seller.

1. Property Valuation

First and foremost. as a seller, your goal is to sell your property at the best possible price in the shortest possible time.  Select a broker/agent that know’s and understand property market and has a proven good selling track record.

2. Choosing the Right Real Estate Broker

Choosing the right broker or agent is a tough job for sellers.  You may consider the following tips.

-are they legal or registered broker in RERA and Land Department

-do they have valid trade license

-do they have good marketing strategy

-do their agents are registered and authorized by RERA

-are they professional

Legal dealings will give you peace and sound mind and good success is expected.

3. Improve Property Value

Home selling process typically requires preparation before it is made available for sale. It is very important to look at a home or property through the eyes of a prospective buyer and assess what  needs to be done regardless if the property is brand new or not.  Good presentation of your property counts. Well taken photos will be your public first glimpse of your property and will determine whether it’s a must-see or not.  It is very important to provide your broker/agent a full detailed information about the home you are selling.  So, seller must choose a convenient time to meet his or her broker/agent at least once before launching a marketing campaign.  Consider also the question: If you will to buy this home, what would you want to see?  The goal is to show a home that looks good, maximizes space, relaxing and appealing as possible.

At the same time the “getting ready” phase relates to home improvements, it is also important not to neglect to ask yourself, why you really need to sell your property.  Selling a home is an important matter and you should have a good reason in doing so, perhaps a job change to a new community or a new investment opportunity. These reasons of selling will play a major impact during the negotiation process, so it’s important to discuss your needs and wants privately with your trusted broker who lists and do the marketing of your home.

Generally, it is a rule in real estate that buyers seek the least expensive home in the best neighborhood they can afford. This means you want to put on the market a home that fits and competitive.  Furnishing, paints, wallpapers, etc., will help a home show better and often are good investments.  Good community and amenities will surely get a top price too.

4. Successful Viewing

There are few points to consider to obtain successful viewing.  Your broker/agent must always ensure well organize viewing transportation, so that potential buyers can arrive at the property in a relax state of mind.  Some of them might come from other places and tired of driving, so give them a relax and convenient tour.  Also it is important that the broker/agent has a set of keys so that they can conduct viewings a t a short notice when seller is not available.

5. Getting an Offer

Any offer to be legitimate must be communicated by the broker/agent in writing even if it is already discuss verbally.  Any special conditions of the offer should be clearly stated in writing.

6. Offer Accepted

It takes skills, ability and expertise to achieved successful selling. Your broker/agent will use his or her unlimited resources in this area to ensure the best possible price and get the deal to completion.  Once the seller accepted the offer, the broker/agent will then do his task, prepare the MOU or the Sales Purchase Agreement (SPA) and other documents required from both parties with regards to the selling procedures.  It is the brokers/agent responsibility to complete from A-Z all the procedures seller and buyer has to go through up to the keys hand-over.

7. Completion

Completion is when the seller fully transferred the property to the buyers name and received the new Title Deed.

Congratulations! Your property is now SOLD.

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