How To Sell Your Property In Dubai
Dubai’s real estate market is big and volatile, making it hard to sell your home for the best price. There are ways to sell your home faster. Selling a property, whether the results are predictable or unpredictable, can be tricky and stressful without the proper knowledge and guidance. Fajar’s Seller’s guide simplifies the sale process and gives you an idea of what you need to do to make an effective sale.
Valuation
Once you’ve made the choice to sell, the first step is to have at least two or three top agencies give you an estimate of what your home is worth. In order for the agent to properly evaluate the property’s location, current condition, and potential for improvement, an in-person inspection is always recommended. The realtor should also be able to provide evidence of recent sales of houses identical to yours, as well as the prices at which they were sold.
Pick A Broker Who Understands Your Needs
Ask the agents how they intend to obtain you the greatest possible price while still selling your home quickly when they come to do the valuation. You can find out which broker is the most active by comparing their proof and by looking at their web profiles. Since you’ll be working directly with this agent to sell your home, it’s crucial that you feel comfortable with him or her.
Get Your Home Ready to Sell
Before making a final buying choice, most buyers will look at a number of different properties. This highlights the importance of making your home noticeable and memorable. In many cases, all it takes are a few simple adjustments to get this result with minimal effort and expense. Before you start advertising a vacant property, give it a thorough cleaning and a new coat of paint. Make sure the place is clean, smells nice, and is flooded with natural light if you plan to live there.
Have Your Paperwork Ready to Avoid Delays
To ensure a speedy sale, you should consult with your chosen agent to find out exactly what paperwork is needed. Make sure you have all the necessary NOCs (no objection certificates) in place from the appropriate authorities if you have made any major improvements to the property. In the absence of these, the transaction may be held up for a considerable amount of time. If you don’t have a mortgage on the property, you’ll need the original title deed to transfer ownership; a copy won’t do. It will take roughly a month to get a new title deed issued if you lose the original.
Prepare advertising plan with your broker
The appropriate introduction to the market is crucial if you want to swiftly sell your property in Dubai. You must have professional images, a video, and a detailed description of the property. Your real estate agent should be familiar with the prices at which houses like yours have recently sold, and the asking price you set should be no more than five percent above that. Your real estate agent should already have a list of qualified purchasers waiting in the wings whose needs are a good fit for your home before it is ever listed online. It is important to get in touch with them all and invite them to a pre-launch open house.
Submit Your Interest
Preparing for Showings
Agents put in long hours trying to close a deal, frequently when the office is closed. The early morning, late evening, and weekend hours are prime watching times. You may increase the likelihood of a rapid sale by making your home accessible to potential buyers at all hours of the day and night and by maintaining a spotless appearance at all times. Your home’s exterior, especially the front lawn and entryway, should exude charm and welcome. The agent should get there a few minutes before the customer does so that everything is ready for them when they walk in the door. This includes having all the curtains or blinds open and the lights on.
The genuine value of a property can never be determined without first consulting the market, even when using comparable data. There are a lot of variables that can affect the value. After 10 days on the market, if you haven’t gotten an offer or come to terms on the sale of your property, you and your agent should consider lowering the asking price. A cut of at least 5% is recommended as a starting point. Instead of dropping the price, you may invest in repairs and renovations. However, if you’re hoping to make a fast sale, it might not be the best idea if you add any enhancements that slow down the process.
Give your bids some thought
There are several factors to think about before submitting an offer on the home. The provided price is the most crucial factor. However, the buyer’s negotiating position is second only to price. Will they be paying cash? If so, do they already have the money on hand, or will they have to go out and get it? Have they begun the mortgage application process and gotten pre-approved if they plan to use a mortgage to finance the purchase? Understanding the buyer’s completion timeline is crucial when time is of the essence.
Hire a Reputable convincing firm
Appointing a competent convincing agency to handle the process from signing the contracts to completing the transfer is an essential next step once your agent has accomplished his primary goal of locating a buyer for your property. Due to the ever-evolving nature of Dubai’s rules, regulations, and procedures, it is essential that you partner with a seasoned, well-informed business that can help you save both time and money. The best real estate brokers know, work with, and are happy to suggest a certain convincing firm.
We hope you find a buyer soon and are able to sell your home for the price you desire. Feel free to get in touch with us for more information or to discuss listing your property with us.