Navigating the Dubai real estate market as a seller can seem intricate, but with the right approach and guidance, it’s a rewarding journey. Here’s a brief overview to set you on the right path:

Property Assessment: Before listing, it’s essential to get a professional valuation of your property. This helps in setting a competitive price that aligns with the current market trends.

Select the Right Advisor: Partnering with an experienced real estate advisor, especially one familiar with the luxury niche in Dubai, can make a significant difference. They’ll offer invaluable insights, connect you with potential buyers, and manage viewings.

Documentation Check: Ensure you have all the necessary paperwork in order, including the title deed, passport copies, and any other relevant documents.

No Objection Certificate (NOC): Once you’ve agreed on a deal with a buyer, 

you’ll need to acquire a NOC from the developer. This confirms that all service fees and dues related to the property have been settled.

Mortgage Considerations: If there’s an existing mortgage on the property, this needs to be cleared before transferring ownership. The buyer might be required to settle it as part of the purchase.

Finalising the Sale: The last step involves meeting with the buyer at the Dubai Land Department to formalise the ownership transfer. Upon settling all dues and fees, a new title deed will be issued in the buyer’s name.

Procedure for selling property in Dubai: The Steps

Selling real estate in Dubai follows a clear and straightforward process:

Agreement on Terms: Both the buyer and the seller finalise the property’s terms and conditions.

• Signing the MOU: A Memorandum of Understanding is drawn up and signed alongside the acceptance of a form A (Seller and broker agreement) a Form B (Buyer and broker agreement) and a Form F (Buyer and Seller agreement). Form A, B and F represent the Dubai Land Department process and are paperless in nature. Subsequently, a deposit, typically around 10%, is made by the buyer and held with the conveyance company.

Buying / Selling with finance: When a buyer intends to finance the property with a mortgage, the bank becomes an integral part of the transaction. This involves the bank conducting a valuation of the property. Additionally, the buyer must secure a final offer letter from the lender, confirming the possibility of a mortgage. If there’s an existing mortgage on the seller’s end, it’s the buyer’s responsibility to clear this amount before applying for the No Objection Certificate (NOC). It’s crucial that after the Memorandum of Understanding (MOU) is mutually signed, the seller promptly procures a mortgage settlement statement from their bank, a process that can extend up to two weeks. Overall, given the intricacies of bank procedures and potential mortgage settlements, the entire process can span anywhere from 6 to 10 weeks, though this can vary based on the specific bank in question. 

Cash Purchase : If banks are not involved in the process it can be done within 2 to 4 weeks.

Obtaining the NOC: Both parties convene at the developer’s office to request a No Objection Certificate (NOC) for the property sale.

• Issuance of the NOC: Once the developer confirms that all service charge dues are cleared, they will grant the NOC, usually in exchange for a fee.
• Ownership Transfer: With the NOC in hand, the next step is to visit the Dubai Land Department to formally change the property’s ownership. On the day of transfer, the full purchase price should be presented as a manager’s cheque in the seller’s name. Upon completing all necessary procedures, the department will release a new title deed, now bearing the buyer’s name.

Sellers are responsible for a brokerage fee, which amounts to 2% plus VAT calculated on the sale price. Additional fees to be aware of include NOC charges, conveyancing costs, and, if relevant, mortgage-related fees.

A seller can appoint a Power of attorneys (POA) in their absence.