How do I sell an apartment in Dubai?
The Dubai property resale process, step by step!
1 - Choosing a real estate agency
This step is essential, and could prove decisive in the success of your resale operation.
You need to choose a serious agency with recognized experience in the secondary market.
This agency must inspire confidence in you, as it will have to defend both your interests, and potentially those of the buyer as well, should it find the new buyer itself.
Our agency has a dedicated resale department. We have already completed several hundred transactions, many of them for owners who were not on site. We have a perfect command of the sales process, and are able to assist you whatever the configuration.
We recommend that you initially entrust the sale of your property to just one agency. If you haven't received a serious offer within a month, consider offering your property to other real estate agencies.
2 - Selling price
Once we have received the details of the property you wish to sell, our agency will be able to provide you with an initial estimate.
The estimate will be based on the latest transactions recorded by the Dubai Land Department, for similar properties in the same residence or neighborhood.
If the property in question has already been built, our agency will of course visit the site to determine the estimate.
Once the selling price has been set, it's time to move on to step 3.
3 - The sales mandate
To advertise on Dubai's main real estate portals, the agency will need a formal sales mandate.
This mandate will also mention the amount of commission to be paid by the seller to the estate agent, in the event of a successful sale. If the property is not sold, you will of course pay nothing.
To prepare the mandate, the real estate agency you have chosen will need the following information:
- Title deed or Oqood in pdf format
- Copy of your passport or emirates id document
The sales mandate is prepared by the real estate agency, and must be signed electronically by the vendor(s). It will mention the sale price, the duration of the mandate and the name(s) of the vendor(s).
4 - Publication of advertisements
Our real estate agency will take care of the marketing costs involved in promoting your property ad on the various platforms.
If your apartment or villa is already ready and accessible, we'll take professional photos of your property.
We generally publish our ads on the Property Finder, Bayut and Dubizzle platforms.
In addition, we communicate with our network of investors and partner agencies.
Our Top Seller status gives our ads maximum visibility.
5 - Negotiation
We handle all your dealings with potential buyers from A to Z, presenting you only with serious offers, which you are of course free to accept or reject.
We'll take the liberty of advising you according to the market situation, but the final choice is always yours.
6 - Signing the sales agreement
In Dubai, the "compromis de vente" is known as the "F Contract".
It must be signed electronically by both seller and buyer.
To prepare the Contract F, the real estate agent will need the following information:
- Seller's and buyer's passports
- Emirates id of buyer and seller (if applicable)
- Title deed or Oqood
- Seller's and buyer's contact details (email, telephone, address)
- Final sales price
If the seller or buyer is unable to attend on the day of the transfer, he or she can be represented by someone he or she trusts. A power of attorney can be obtained remotely for around €300.
7 - The NOC
In order to proceed with the sale, the seller must be in possession of a NOC. The Non Objection Certificate is issued by the developer, at the seller's request.
It formally authorizes the owner to resell his or her apartment or villa, and guarantees that the owner will not leave behind any unpaid bills, such as for condominium charges or air-conditioning.
The NOC is generally subject to a fee, ranging from a few hundred euros to a maximum of €1,500, depending on the promoter.
Depending on the time of year, it can take several weeks to deliver.
To obtain the NOC, the seller must provide the new buyer's contact details, a copy of his or her passport and Contract F, as well as any documents relating to powers of attorney.
8 - Transfer of ownership
Once the seller is in possession of the NOC, and the buyer has all the funds required to validate the transaction, it's time to proceed with the transfer of ownership. The seller and the buyer can be represented by a trustworthy person in possession of a power of attorney.
To do this, an appointment is made at a Trustee Office, the local equivalent of a notary.
The real estate agent will provide the Trustee with all the above documents.
The Trustee will verify the authenticity of the documents and ensure payment by checking the cashier's cheque, or asking the seller if he has already received the funds. These checks ensure maximum security for both seller and buyer.
Once these steps have been completed, which should take no more than 15 minutes, the Trustee will validate the sale, and the new owner will receive his title deed by email.
Want to sell a property in Dubai?
Contact our Secondary Market department managers, Zoé and Fabien!