Like buying a property, there are specific steps that you must follow to sell your apartment or any freehold property Dubai. If it’s your first time doing so, the process can be overwhelming since this involves more than just moving out of the property and preparing necessary documents for the sale.
If you’re keen on putting your investment or 1 bedroom apartment for sale in Dubai, here’s what you need to do:
Find a reliable real estate agent
Enlisting the help of a real estate agent can help ensure a smooth process of managing and marketing your property, including flats for sale.
To achieve this, be sure to only work with real estate agents who are registered with the Real Estate Regulatory Agency in Dubai. Once you find a reliable agent and complete the formalities, you can move to the next step.
Advertise your property
To attract buyers who are looking for an apartment for sale in Business Bay, start advertising in local newspapers and social media platforms. You might also want to consider adding the property to different online listing portals.
Once you find a buyer for your apartment or off-plan property for sale in Dubai, you (the seller) and the buyer must sign a contract stating the terms and conditions of the sale. This contract is known as Form F or Memorandum of Understanding.
To sell the property, you will also need a No Objection Certificate whereby the property developer declares that you (the seller) have no remaining debt or liabilities with them.
Complete Transfer of Ownership
Once the paperwork above is completed, you and the buyer must meet at the Dubai Land Department (DLD) to complete the formalities for the transfer of ownership.
During this time, the buyer will pay for the remaining amount of the purchase price, you will pay the transfer fees to the DLD, and a new title deed will be issued with the buyer’s name.
If you need guidance in selling a residential property that fits your specific needs or you require assistance with legal processes to sell your property, you may get in touch with one of our experts at Rocky Real Estate.
Our experts have the knowledge and experience to help you obtain the best return on your real estate investment.