The UK client made initial contact asking on the current market trends and suggested they would be very interested in selling their Villa for the correct price. This Villa was chosen specifically upon construction for the elevated plot, view and size of the area. The client had received various very attractive offers over the years and this varied from 2008 depending on market conditions at the time.
This client was realistic about the current market and had a figure in mind of what they would accept, However, having been offered a substantial amount over the OP then was very set in this figure in order to take into account the current market value of the property. During initial discussions, we explained we could set the price at "x" amount and it would just be another villa in the area for sale or, due to the very attractive size and location then we could price it well and it would most certainly attract buyers in that and surrounding areas.
We prepared the listing details, agreed on the listing price, took professional photographs and even a drone video to highlight the villas many features. This was then featured and premium throughout social media and all property portals.
The Problem: We faced 2 issues when it came to the sale of the property. One was the price, as what the seller wanted was above the threshold for a buyer using finance to pay a higher percentage therefore the buyer offered just below this to save further deposits being achieved etc. The second issue was the swimming pool approvals. In 2014 Dubai Municipality introduced the need for all built villas with swimming pools to have approvals for a 5ft fence and self-closing gate in order to promote safety. This particular villa had all the necessary building approvals for the pool installed in 2009 but required these new drawings/approvals from DM and also the developer in order to achieve the NOC for Sale / Transfer of the property. Therefore, these had to be applied for immediately as part of the sale.
Our Solution: As the current owner was living outside of Dubai we then asked for the best and most trustworthy source of who was familiar with this work and who would give us the best and quickest service. Having called owners and members of the community we quickly identified one company who had carried out many of this type of work and also was recommended by the developer to ensure what they had done before would be applicable to this villa. We then had to prove to our client, the seller, that this company were the best, even though more expensive, to carry out this work.
The Result: After 4 weeks of meetings, access, old drawings being provided etc we then were able to finally collect all approvals, building permits and submit these for NOC to sell. This was also completed during Ramadan when hours were reduced at the time. Thankfully, Dubai Municipality, the developer office, the buyer and the seller were delighted that this was approved allowing not only the current sale but the new owner peace of mind that it was completed in order for them to ever resell.
The added bonus for both buyer and seller was the sale of a lovely villa in an amazing community with all the correct paperwork and the seller also was able to take advantage of the current exchange rate back to the UK at the time to reach a figure closer to what they had hoped for in the initial meeting.
At fäm properties, we have many contacts in developers office and dedicated agents who will do what is needed to make a sale here in Dubai. This case required the agent to co-ordinate with the seller and take authorisation from the seller to follow up here in Dubai on the seller's behalf. The main challenges were that the time difference of 4 hours from Dubai to the UK meant it was a lot of calls in the evening with updates and also trust from both sides that the best job was being correctly carried out by fäm as the seller was in Europe and was relying on the agent to update on each stage of the process.
Furthermore, due to the agent's professionalism, dedication and knowledge of each stage of the situation this resulted in both the buyer and the seller recommending this agent and from there has gone on to sell 3 more very attractive properties to friends/colleagues through this referral.