How do I sell my off-plan property?
First, check with the developer on the resale requirements. Most developers require that you have paid at least 30-40% of the property value before you can sell it. You may also need to obtain a No Objection Certificate (NOC) from the developer.
Find a highly-rated real estate company. Always search for company reviews on Google when looking for an agency to work with. This company will be responsible for curating your buyers.
Negotiate the price and terms of the sale. Once your agency has found a buyer, you will need to negotiate the price and terms of the sale. This includes the amount of the down payment, the payment schedule, and any other terms that are important to you.
Draft and sign the sales agreement. Once you agree on the price and terms, you must draft and sign a sales agreement. This document will outline the terms of the sale and will be legally binding on both parties.
Obtain the NOC from the developer. Once the sales agreement is signed, you will need to obtain the NOC from the developer. This document will allow the buyer to take over your payments to the developer.
Transfer the property to the buyer. Once you have the NOC, you must transfer the property to the buyer. This includes sharing the title deed and any other documents related to the property.
A few more tips for selling your off-plan property in Dubai:
Get professional help. If you are not familiar with the real estate market in Dubai, it is very important to seek professional help from a reputable real estate agent. They will be able to help you every step of the way.
Price your property competitively. The price of your property will be a major factor in whether or not it sells. Make sure to price your property competitively so that it is attractive to buyers. Always look at DXB Interact to make sure you're in the right price range.
Be patient. Selling an off-plan property can take time. Don't be discouraged if your property doesn't sell right away.
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