Advantages to sell off plan projects in Dubai:
When you sell off plan projects in Dubai, there are numerous advantages that you can get:
- You will become a seller, and many real estate developers would like to deal with you.
- The uncompleted or off plan projects are likely to be purchased sooner because the developers can make their own changes without any loss.
- You will get the best value for your property.
When you will sell off plan property in Dubai with us, you get all-time assistance for no commission.
Presenting your property in the best light will not only help you sell your property quicker, it will also influence offers and returns on investment. Make sure gardens are neat and tidy, give your home a fresh lick of paint, put flowers on display and invest in a deep clean or thorough tidy.
Consistently abreast of factors influencing Dubai property prices, one of our advisers will carry out a market appraisal on your property and advice on achievable sales price as well as the strategy for selling your property. It is advisable to set a realistic price.
Marketing your property
As one of the largest global property consultancies, we market your property to the widest possible audience via marketing channels that include:
- Professional photography
- Bespoke video
- My Dubai Properties website
- Website listings on major national and international property portals
- Press advertisements and brochures
The procedures for selling real estate in Dubai are straightforward for the most part.
- Buyer and seller agree terms
- A Memorandum of Understanding (MOU) is signed and a deposit (usually 10%) is paid.
- The parties meet at the offices of the developer to apply for a No Objection Certificate (‘NOC’) to sell the property. The developer will usually issue the NOC against a payment of a fee once the developer is satisfied that any amount due to the developer in the form of service charges have been settled in full.
- Once the NOC is issued, the partied are able to go to the office of the Dubai Land Department to officially transfer ownership. The Dubai Land Department will insist on payment of the purchase price being made in the form of a manager’s cheque made payable to the seller on the date of transfer. Once formalities are completed, a new title deed will be issued in the name of the buyer.
If the buyer is purchasing with a mortgage then the bank’s involvement will be required. If the seller has a mortgage on the property the buyer is required to settle the seller’s mortgage in full prior to the NOC application. This increases the risk for the buyer and means the transaction is more complicated.
- Original passport
- Original title deed
- Original title deed original certificate of trade Licence
- Legal translation of the Memorandum and Articles of Association
- Original certificate of Good Standing (not more than 6 months old)
- Original certificate of Incumbency (not more than 6 months old)
- Copy of shareholder(s) passport(s)
- Original resolution approving the sale or purchase (as they case may be)
- Original power of attorney
- Attorney’s original passport
The following fees will generally apply to the sale and purchase of real estate in Dubai:
- NOC fees – these can range between AED 500 and AED 5,000 and are payable to the developer, usually by the seller. Certain developers also levy a refundable deposit upon the buyer which is only refunded when the buyer presents the new title deed at the developer’s office and their records are updated.
- Real Estate Agent’s commission is 2% of the purchase price
- Transfer fees – these are calculated at 4% of the purchase price with an additional amount paid towards Admin fees which currently is not in excess of AED 5,000 and is paid to the Dubai Land Department.
- Mortgage registration fees (if applicable) are calculated at a rate of 0.25% of the registered loan amount and paid to the Dubai Land Department,
- Developers ask for their annual service charges to be paid in advance and buyers should therefore account for their pro rate share upfront.
Selling Off Plan Property Before Completion:
There are several questions and doubts regarding selling off plan properties before their completion, which are mentioned as well as answered below:
Can I sell before completion?
Of course! You can sell off plan projects in Dubai before its completion and the buyers will be interested as well.
How to sell an off the plan property before completion?
You can contact developers and real estate agents to sell off your property. Find out how much property will the developer need to buy and the amount and then obtain a sale NOC.
How would the sale process work?
It is a very easy and simple process, the buyer will pay you that Price for selling off plan properties which you have paid to the developer while buying it. With the sale NOC and other related documents, the buyer gets the ownership and it will pay the future amounts to the builder or developer.
How we can help in selling your off-plan property?
We have connections to all the major developers and real estate investors who are always ready to invest in real estate. If you want to sell it off at best prices then you may visit us. You can talk with all the developers and buyers at one place and choose one who pays you the most. Thus, your efforts are decreased and profit is increased.