Selling and buying Dubai property

To sell your property in Dubai you need to first have your property listed with trusted sources on the internet or through some real estate agent who is accredited. First impressions matter. A photograph could be difference between selling your property and not receiving any offers. Take advantage of the Property Information sections which helps in making your property stand out from the rest. Then stage your property and market it extensively, to make it easier and faster for prospective buyers and tenants to find your home - and subsequently sell Dubai property.

The process of buying a property differs, depending on where you are in the world. If you need a mortgage to buy your property, you need to know how much money you are able to borrow. This will be dependent on your income and the type of mortgage you want. Shop around different banks and lenders to try to find the best deal. If you are buying Dubai property to live in, decide where you want to live and what areas are within your budget. Consider factors including proximity to your place of work or children’s schools, transport links and other amenities. If you are an investor, these factors are also important because properties in convenient locations can produce higher rent yields.

Understand at what price properties similar to yours are selling for. Remember that prices advertised and prices sold at are different. Set realistic prices to avoid delays on generated interest. Ensure flexibility of viewing timings to increase the speed of the selling process. Prepare the necessary documentation. This includes the Sales & Purchase Agreement (SPA), the title deed, floor plans and a location map. Produce a liability letter from the bank that you have the mortgage on your property for sale in Dubai. Once you do, the buyer's bank will then arrange to pay off your mortgage.

You may be asked to sign a few documents pertaining to authorizing your bank to accept the settlement of the loan and instructing the bank to release the property documents once the mortgage is settled.  The buyer's bank will pay off the mortgage while your bank issues the clearance documentation. The next step is to submit a copy of the NOC to the buyer's bank. The bank will then take about 2-3 days to prepare the final documentation to sell Dubai property.