How to sell an apartment in Dubai?

Steps to follow before selling your apartment in Dubai

1. Find a good real estate agent

The first step to selling your apartment is to find a good real estate agent. An experienced real estate agent understands the market trends in your community and can provide valuable insights to help you sell your apartment.

Make sure that you choose an experienced Area Specialist from a well established real estate agency to get the best experience.

2. Get an accurate valuation of your apartment

Once you have chosen an experienced real estate agent, the next step is for them to give you an accurate valuation of your apartment. This will help you to set a competitive price that attracts potential buyers whilst also ensuring that you maximize your return on investment.

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

3. Sign a Form A to sell apartment

Once you have a valuation from your chosen real estate agent, the next step in selling your apartment in Dubai is to sign a Form A. A Form A is a mandatory agreement between the seller and the real estate agent, as required by RERA (the real estate regulatory body). This document outlines the key terms of the sale and must be completed prior to your apartment being listed for sale.

The Form A includes important information like the agreed-upon agency commission, the listing price, and the duration of the agreement. It also ensures that your apartment can only be listed by someone whom you have given your permission to, which prevents fake and incorrect listings on the market.

4. Start advertising your apartment

Once you have signed the listing agreement (Form A), it is time for the agent to create the listing and start marketing your apartment. They should utilize various marketing channels, including their company website, real estate portals and social media to give your property maximum exposure. The listing should include good quality photos and a well written description to highlight the key features of your apartment and attract potential buyers.

5. Do property viewings and get offers

Your real estate agent should begin to receive enquiries about your apartment and will arrange viewings for potential buyers. You should ensure that your apartment 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. 

Steps to follow after finalizing a buyer

1. Signing Form F

Once you have secured a buyer, the next step is to sign a Form F. A Form F is the sales contract between the buyer and the seller. This outlines the terms and conditions of the sale, including the agreed-upon price and the payment schedule. Both the buyer and seller must sign this document to formalize the agreement and progress with the sales process.

2. Getting the NOC

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

3. Ownership transfer At DLD (Dubai Land Department)

The final step in the selling process is to transfer ownership of the apartment at a Trustees Office of the Dubai Land Department (DLD). Both the buyer and the seller must be present at the Transfer Office and will normally be accompanied by a conveyancer or real estate broker.

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 and any keys and access cards will be handed over to the buyer.

Steps required for mortgage sellers

If you have a mortgage on your apartment then there are additional steps to the sales process and it can be more complex. Here’s a breakdown of the process:

1. Apply for a liability letter

The first step is to obtain a liability letter from your bank. This document will outline the remaining balance on your mortgage, which is crucial for understanding how much needs to be paid off before the sale can proceed.

2. Apply for an NOC

Next, you need to get a No Objection Certificate (NOC) from the property’s developer. The NOC confirms that there are no outstanding service charges or other money owed on the apartment.

3. Block the apartment in the buyer’s name

To safeguard the buyer's interests, the apartment must be blocked in the buyer’s name before the mortgage is cleared. This involves a visit to a Dubai Land Department (DLD) registration trustee’s office by both the buyer and the seller. During this process, the property is temporarily blocked, which prevents the seller from selling or transferring it to anybody else.

4. Obtain clearance letter and original title deed

Once the buyer has paid the required amount to clear the seller’s mortgage, the bank will issue a mortgage release letter or clearance letter, along with the original title deed. This step is crucial for proceeding with the final transfer of ownership.

5. Transfer the property to the buyer

The final step of selling a mortgaged apartment is to transfer the ownership at a DLD registration trustee’s office. Both the buyer and seller must be present for this process. The existing mortgage will be released, and a new title deed will be issued in the buyer’s name.