Selling Property In Dubai - A Comprehensive Guide

Sales process in Dubai

From obtaining an accurate appraisal, right through to transferring ownership, this section outlines the necessary steps to sell a property in Dubai. 

The 10 key steps to selling a property in Dubai are:

1. Choosing a real estate agent

2. Getting a property valuation

3. Listing your property

4. Marketing your property

5. Property viewings and offers

6. Accept an offer

7. Hire a convenyancer

8. Apply for an NOC

9. Block the property

10. Transfer the property

Lets break down each of these steps in more detail.

1. Choose the right agent

The first step to selling your property is to partner with a real estate agent. An experienced agent understands the market trends in your community and can provide valuable insights to help you sell your property. Conduct thorough market research and speak to multiple brokers to find the right fit for you. 

2. Get an accurate valuation

The next step is to get an accurate property valuation from your agent. This will help you to set a competitive price that attracts potential buyers whilst ensuring that you maximize your return on investment.

The agent should complete the valuation in person to accurately assess the condition and key selling points of the property whilst also backing up their valuation with real market data of recently sold properties.

3. List your property exclusively

Listing your property exclusively with one agent offers several benefits. Over exposure through multiple agencies can deter prospective buyers and lead to lowball offers. Plus, it's easier to deal with one trusted broker rather than multiple agents, and they have incentive to invest extra time and marketing into selling your property. 

4. Market your property

Prepare your property for marketing by de-cluttering and doing basic maintenance and decorative work. Your agent should list your property using high quality photos and a well written description. They should use various channels, including their company website, real estate portals and social media to give your property maximum exposure.

5. Property viewings and offers

Your agent should begin to receive enquiries and will arrange viewings for potential buyers. You should ensure that your home is clean, well presented, and available for viewings at convenient times. Your agent will hopefully then start to receive offers and will negotiate on your behalf to secure the best deal.

6. Accept an offer

Once you have agreed terms with a buyer, your agent will create a sales and purchase agreement (Form F), which is certified by the Dubai Land Department (DLD). Both the buyer and seller must sign this document to formalize the agreement and progress with the sales process.

7. Hire a conveyancer

After finalizing the sales agreement, it is highly advisable to seek the assistance of a professional conveyancing service. For a small conveyancing fee, they will handle the intricate details of the sales process and guide you through each of the following steps. 

8. Apply for an NOC

As the seller, you will be required to pay for an NOC (No Objection Certificate) from the property’s developer to proceed with the sale. In the NOC, the developer confirms that there are no outstanding service charges or other dues on the property. This step is crucial to ensure a smooth ownership transfer.

9. Block the property 

If you have a mortgage on your property, then you must go through a blocking process. To safeguard the buyer's interests, the property must be blocked in the buyer’s name before the mortgage is cleared. This process prevents you from selling or transferring the property to anybody else.

10. Transfer the property 

The final step to selling a property is to transfer ownership at a Trustees Office. Both the buyer and the seller must be present and will normally be accompanied by the conveyancer. Once all the necessary paperwork has been completed and the fees have been paid, the DLD will issue a new title deed in the buyer's name to finalise the process. 

Fees when selling a property

When selling a property in Dubai, it’s important to be aware of the fees which you can expect in the process. Here’s a breakdown of the typical costs of a property sale: 

• Dubai Land Department (DLD) fee: 4% of the sales price, plus an AED 580 admin fee.

• Property registration fee: AED 2,100 for properties under AED 500,000 and AED 4,200 for properties over AED 500,000.

• Mortgage discharge fee: Typically ranges from AED 500 to AED 1,500.

• No Objection Certificate (NOC): Costs typically range from AED 500 to AED 5,000.

• Sales progression fee: Varies based on the transaction.

• Agency fee: Generally 2% of the sales price.

Mistakes to avoid when selling 

Listing significantly above market price 

Whilst you want to maximise the return on your investment, setting a price significantly above the market rate will deter buyers and make selling your property very difficult. Whilst you should allow some room for negotiation, setting a fair price is crucial to attracting interest. 

Trying to sell without an agent 

Using an experienced real estate agent is crucial, both to ensure that your property sells quickly and for the maximum possible price. They will guide you through every step, from how to price your property appropriately and market it effectively, right through to completing viewings and negotiating the best selling price.

Using unattractive images

Photos are likely to be the very first thing a potential buyer sees, so using poor quality images can significantly hinder buyer interest. Ensure adequate lighting and declutter before your agent takes any photographs. These can be taken using a smartphone, or your agent may choose to hire a professional photographer and videographer to perfectly capture your property. 

Not listing exclusively

It can be natural to think that listing with multiple agencies will give your property more exposure. But, in reality, it can actually lead to conflicting messaging and be taken by potential buyers as a sign that you are more likely to be open to lowball offers.

By listing your property exclusively with the right agent, they can invest in marketing your property, act as a single voice to the market and handle all negotiations to ensure you get the best price. 

Partner with Engel & Völkers 

If you're considering selling your property and believe now might be the right time, let us help you take the next step. Get a free, no-obligation property valuation with Engel & Völkers. 

Our expert advisors are ready to guide you through the selling process with personalized advice and unmatched service. Contact us today to get started on your journey to a successful sale.