Whether you work in the real estate business or plan to sell your house for the first time, you will surely deal with several questions that come to your mind. Therefore, knowing how to answer these questions accurately is essential to ensure a smooth selling procedure. To help you with this task, we have compiled a list of some common real estate questions for sellers pertaining to sales and real estate.
List of Real Estate Questions for Sellers
The following frequently asked real estate questions for sellers can help you with the specific steps that need to be followed to sell a property in Dubai.
How to sell real estate property in Dubai?
You need to take the below-mentioned steps to sell a real estate property in Dubai:
- Find a real estate agent: You must consider a RERA-approved real estate agent who follows the guidelines provided by Dubai Land Department. Hiring a real estate agent will assist you with lengthy paperwork and bid for the real market price.
- Sign the relevant forms: As soon as you hire a real estate agent, you will need RERA Form A to formally start the selling procedure with your broker. Form A from RERA should be signed and submitted to the Trakheesi system in Dubai.
- Know the actual worth: You can take help from TruValueTM to evaluate the value of your property.
- Advertise your property: It’s time to put up an ad for your property. Make sure you use authentic portals to attract potential buyers. This will help you to sell your house fast. Here are some real estate photography tips that you must follow to post your ad online.
- Transfer the ownership: The last step of selling a property is to transfer the ownership.
How to sell a real estate property online in Dubai?
Whether you are living in Dubai or any other Emirate in the UAE, you can put your property up on online listing portals such as dubizzle. All you need is to sign up and place your ad. You can also add 360 virtual reality tours of your property to immerse potential buyers. Make sure your real estate agent determines your property value correctly.
What are the personal documents required to sell a property in Dubai?
You need to have the following personal documents to sell your property in Dubai:
- A valid passport
- Resident visa (UAE residents)
- Original passport (Non-UAE residents)
- Emirates ID
What are the documents required to sell a property in Dubai?
Besides personal documents, sellers need to have the following document to sell a property in Dubai:
- Original title deed updated on Dubai Rest App (Android | iOS)
- FORM A for property marketing
- FORM F/MOU to sell property in Dubai
- Non-Objection Certificate from the developers and Dubai municipality
How to get NOC (No Objection Certificate) to sell a property in Dubai?
No objection certificate is required to sell a property in Dubai. The DLD needs NOC from a property developer which declares that the seller has no debts to pay for the property. You need the following documents to apply for the NOC:
- The Title Deed/Oqood (for off-plan properties)
- Your Emirates ID
- Passport with a valid residency visa
- Copy of RERA FORM F
What are the NOC charges for property in Dubai?
The charges for a Non-Objection Certificate in Dubai range between AED 500 to AED 5,000. This varies from one developer to another. It also depends on whether the property is ready or off-plan.
How to apply for a transfer of ownership in Dubai?
Once you get the NOC, all the concerned parties such as the buyer, seller and real estate agent go to the trustee office of the Dubai Land Department to officially transfer the property ownership. This is where:
- The buyer pays the remaining purchase amount of the property
- The seller will pay the transfer fee
After making the complete payment, a new Title Deed will be issued by the DLD in the buyer’s name.
What are documents required for the transfer of ownership in Dubai?
You need the below-mentioned documents to get the transfer of ownership in Dubai:
- Original passport, visa and Emirates ID of both buyer and a seller
- NOC from the developer
- Copy of the title deed
- Form F (MOU)
- A cheque to the seller for the remaining purchase amount
- A cheque to Dubai Land Department (usually a 4% transfer fee)
Can I sell a mortgaged property in Dubai?
Yes, you need to pay the remaining mortgage and follow the required process to sell a financed property in Dubai.
- Apply for a liability letter from the lender
- Apply for a NOC from the developer
- Lock the property in the buyer’s name
- Obtain clearance letter and original title deed
- Transfer the property to the buyer’s name
With this, we conclude our list of some common real estate questions for sellers. The mentioned questions and answers will help you to understand how to sell real estate fast and what procedure you must follow.
If you are interested in investing more in real estate, then check out these apartments for sale in Dubai. First-time property buyers can follow this home buying checklist to make a successful deal.
If you find these real estate questions for sellers useful, stay tuned to UAE’s top property blog for more.
