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industry is now a buyer's market. Properties Dubai Buyers are now
after the most attractive projects. There is a reasonable demand for properties
Dubai residential units in areas that have finished roads and basic
facilities, such as shops and schools according to consultants.
The main challenge for properties Dubai market is to find a buyer
in a market where there's a lot of competition.
The main issue is how to package your properties Dubai to make it
the one that people want to buy, and price is obviously part of that.
Due to increased documentation and formalities, mortgaged properties
Dubai could pose as a challenge for sellers
Properties Dubai sale price depends on several factors:
1. The motivation of the properties Dubai seller
2. How long the properties Dubai been on the market
3. Buyer needs whether finance or cash, that means selling your properties
Dubai at a price lower than what you bought it for.
Properties Dubai is still being sold at a profit in areas such as
Emirates Living and Palm Jumeirah. Buyers who invested during the peak period
are finding it difficult to sell their properties Dubai at purchase
price or above.
Properties Dubai consultant advice sellers to use a professional
agent with a track record in properties Dubai market for 2 reasons:
1. The amount of work required to sell properties Dubai.
2. Using agent to sell properties Dubai will generate higher price
than sale direct.
Properties Dubai seller should take great care in selecting the agent,
making sure that the company is registered with the Real Estate Regulatory
Authority (Rera) and has a good reputation within the properties Dubai
Properties Dubai seller should look to build a relationship with
their agent and give them a timeframe with which to sell
Properties Dubai tax implications
Investors probably have not considered properties Dubai tax implications
in the past unless they are a dollar-denominated investor.
It does matter if you are a European or an Indian, clearly you could gain
and lose more on the currency when negotiating with your properties Dubai
The properties Dubai sales commission in Dubai property market is
between 5-8% of the selling price, the rate ranges between 1-3%. It depends
on many factors, such as the availability of:
- Similar properties Dubai price, condition & views
If the properties Dubai is well priced and in good order, then it
should find a buyer within 4-8 weeks
The entire process, from the time a properties Dubai agreement is
signed between a seller and properties Dubai agent and the completion
of the sale, can take from a week to a year.
Properties Dubai selling process scenario:
1. Seller calls the agent and gives information related to the properties
Dubai, in the case of an individual he need to submit:
- Copy of the Sale and Purchase Agreement (SPA), properties Dubai
floor plans and passport copy.
If properties Dubai seller is company you need to submit
- Trade license
- Board resolution
- Passport copies of the authorized signatories of properties Dubai.
2. Properties Dubai sales agent will inspect the property to estimate
its value. The factors that are considered for the property valuation are
the completion of properties Dubai community, infrastructure, floor
and view, among others.
3. On the basis of the information provided and checked by the properties
Dubai sales agent, the details are logged and the property is listed.
Details can be viewed on the website of the agent. Properties Dubai
Sales agents start conducting viewings of the properties Dubai and
keep the seller informed of any offers received. Once a prospective buyer
has been found, both the parties proceed with the other formalities related
to the sale.
4. The properties Dubai seller settles all payments, if any, due
to the developer and other related parties, for example DEWA.
5. The seller receives 10% of the properties Dubai purchase price
as a security deposit
6. Properties Dubai deposit is a guarantee should the buyer pull
out. The seller has to pay the same charges that are applicable to the buyer.
7. The security deposit from the buyer needs to be collected and held by
the properties Dubai agent, which can be refunded or adjusted on
the date of the transfer at the DLD.
8. The MOU needs to cover all parts related to properties Dubai assignment.
9. properties Dubai seller and buyer need to sign all related documents
- Submission of properties Dubai documents,
- Signing of properties Dubai agreements and assignment forms
- Receipt of clearance certificates from the properties Dubai Owners.
- Properties Dubai developer will process the NOC.
10. The parties obtain the NOC from the developer to transfer and register
the properties Dubai into the new owner's name at the land department.
Both parties fix an appointment at the DLD to effect the transfer.
11. The properties Dubai seller receives the balance of the agreed
properties Dubai sale price, in the form of a bank manager's cheque,
and the buyer receives the title deed in his name.
Charges for properties Dubai legal work can vary according to its
nature. Attestation of properties Dubai documents may vary from a
simple notarization from Dubai Courts if the properties Dubai document
is executed in Dubai, to a notarization and an attestation from the UAE
embassy at the place of origin followed by verification and attestation
by the Ministry of Foreign Affairs at Dubai, if the properties Dubai
document is executed outside Dubai.