Home Residential Sell The Selling Process

The Property Selling Process

Placing Your Property on Our Books

There are various steps that you can take to making sure that our records are quickly updated with your property details. To accept a 're-sale' property onto our books we need copies of:

1. The 1st page of your contract with the developer stating
1. the owner's name
2. the original purchase price
3. the completion date
4. the full property location
5. if the property is yet to be completed we also need to see the payment schedule
2. The receipts for the amounts that you have paid to the developer
3. A floor plan
4. If you have completed on the property we also need a copy of your completion certificate
5. The title deed, which is issued by the lands department when a property is registered
6. If you have a mortgage, the details of this will also be required i.e. company, outstanding loan etc

Valuing Your Property

When placing a property on the market you must first decide on the price that you are willing to accept. Our professional staff are well versed in the market prices for different properties and we recommend that you speak with one of our advisers to discuss the appropriate selling price for your particular property.

Re-Sale Terms

The terms and conditions applied for re-sale have in the past differed from developer to developer. The formation of the Real Estate Regulatory Authority (RERA) has come about with the objective of standardizing re-sale processes. RERA has begun to regulate these procedures, but it should be noted that the market is still in a period of transition and there remains a way to go before all developers adopt standard industry practices. Resale guidelines at the present are as follows:

• Properties need to be pre registered with the Lands Department by the owner before a re-sale can take place
• The Lands Department will take over all property transfers
• Owners will need to pay a transfer fee and a registration fee to the Lands Department not the developer
• Property transfers will be recorded with a government entity (Lands Department) and not the developer
• Vendors will need to obtain a letter of no objection from their property developer

Understanding Dubai re-sale processes will not be easily accomplished if you are not familiar with the market. The Dubai Luxury Homes staff are well versed in RERA laws and will immediately be aware of any changes or developments that occur within the market, putting us in an ideal situation to offer advice and answer any questions that you may have.