Selling a house might sound easy to some, but in reality, it’s an emotionally challenging and time-consuming process that needs your full attention. And if you want to sell the property you are currently living in, you might feel like an invasion of privacy. That’s because strangers will come to your house and might criticize the place.
But don’t worry because we have got your back. Whether you want to sell or buy property in Dubai, we can help you do it correctly. With some crucial information, you can avoid common pitfalls.
Things to Consider When Selling Your House
If you have a freehold property in Dubai that you want to sell, you should try to keep the process as simple as possible. However, if you are putting your property for sale in Dubai for the first time, you might wonder how to initiate the process.
But don’t worry because you are not alone. Like you, many people have questions regarding how and where to begin the property for the sale process. That will, however, end with this post.
Find a Real Estate Agent
Enlisting a property for sale in Dubai can be very daunting. That’s why you should find a broker to simplify the process. When selecting a broker, make sure you choose one registered with the Real Estate Regulatory Agency in Dubai.
Such real estate agents are trustworthy and honest with their work. Thus, you can trust them. In addition, working with a broker makes the selling task easy because brokers can walk you through the legal complications and other important things involved in the process.
After selecting a broker or a real estate company, you need FORM A. This form legally states that a particular company or broker is your agent.
It includes service charges, mortgage status, property details, payment schedules, agent commission, property listing details.
Correctly Advertise Your Property
If you haven’t advertised your property, people will not know about it. And this way, no one will show interest in your real estate property for sale in Dubai.
So, instead, you must talk about your property to attract potential buyers. Surely your real estate agent will list the property online, but you also need to advertise it on your level.
Also, after listing, keep your property clean. There should be no clutter. Decorate it to make it appealing, and get it repaired. This way, you can expect a good amount.
Signing Form F
Once the broker has helped you find a potential buyer, it’s time to sign FORM F. This form is a Memorandum of Understanding and a contract between buyer and seller.
This process is important because FORM F contains important information, including price, selling cost, property details, transfer date, name of the party, and other details.
Since FORM F is a legal contract, you need to check it twice before signing.
Another thing you require is a NOC. Without it, you cannot take part in the Dubai real estate investment. The NOC is provided by the property developer to complete the selling process.
This document states that the seller has no debt or liability. That means the property is fit for sale. To apply for NOC, you require a copy of FORM F, Emirates ID proof, and title deed.
Things to Avoid Before Selling Your House
If you wish to grab a good deal, do not repeat other people’s common home-selling mistakes. Here’s a few of them.
Underestimating the Cost of Your Property
Most people underestimate the cost of their property. That’s because they don’t calculate the amount that they put for repairs and other stuff. Also, they forget about closing costs that can roughly increase the property’s price by 10%.
Another thing that property owners like to do is set an unrealistic price. There is a fine line between overestimating and underestimating. So make sure that you hit the sweet spot between the two lines to get a fair deal.
Sometimes property owners simply ignore the cost of repairing, thinking that it’s not required as they will no longer live in it. But if you get those repairs done, the value of your property will increase fairly.
Once you have put your property for sale, you cannot limit its showings. You need to cooperate when the agent wants to show your house to potential buyers.
It’s important to avoid making mistakes because, at the end of the day, you want to sell your house as quickly and smoothly as possible.
If you haven’t found a brokerage firm yet or want to work with the best, choose none other than Allegiance Real Estate. Our firm has been operating for a while. We offer different services, including selling a property, renting a property, buying a property, financing a property, and more.
Allegiance Real Estate provides solutions to some of the toughest real estate problems. So, get in touch with our experts to list your property legally and smoothly.