How To Sell A House In Dubai
Dubai is home to over 3 million people. That number is growing on a daily basis. Why? Because Dubai is widely seen as a westerner's gateway into the largely closed-off middle east. Dubai is business-friendly, tourist-friendly, and boasts world-class attractions that inspire people from all over the world to pass through this storied city. All the foot traffic that moves through the area is good news for you if you're looking to sell a house in Dubai. That's because more people, means more demand for housing and more demand for housing means more money in your pocket.
Selling a house in Dubai isn't quite as simple as throwing up a for sale sign and waiting for somebody to dump a sack of cash on your porch. Fortunately, it isn't all that complicated either.
Below, we step you through some simple tips to help you sell a house in Dubai tips.
Step 1: Pick a Knowledgeable Agent
If you're an expat living in Dubai, it's important to note that because you know how your birthplace's real estate market works, it doesn't mean that you know how Dubai's functions.
There are a lot of cultural and general business considerations to keep in mind when you're selling homes in a new country. A good real estate agent can help you navigate all that.
There are a number of real estate agent databases that you can look up online to find a reputable agent. You can also check out review aggregator websites like Google to see various agency's reviews.
When you have an agent selected, you'll need to prepare "Form A" which will allow them to legally start representing your property.
Step 2: Ensure That You Have All Your Paper Work in Order
Before your property hits the market, you'll need Form A in place with an agent. Before you can fill that form out, you'll need a couple of other things.
For starters, you have to prove to your agent that you are the legal owner of the house that you're trying to sell. Having a copy of your deed available is the easiest way to do this.
Furthermore, you'll have to have a visa or legal resident number to prove that you have grounds to live in Dubai.
Once you square away all that documentation, you'll be ready to start selling!
Step 3: Market Your Property Like Crazy
A good real estate agent will handle the majority of your marketing efforts. Just because they're in the driver's seat though doesn't mean that you can't help out as well.
Here are some ways that both agents and homeworkers can market their home:
Take Great Photos
Following solid tips for real estate photography and showcasing awesome photos of your house can single-handedly get your home sold. Be sure that your agent is working with a good photographer to make sure that your home is being shown off in its best light.
Hold Open Houses
If your agent isn't holding open houses, you need to ask them why and they'd better have a good reason.
Open houses are the best way to introduce your property to the community. We recommend that you show your house for a couple of hours every week until you receive a qualified offer.
Get Your House Listed on Popular Home Websites
Websites like Zillow and Trulia get millions of hits every month from people that are looking to buy homes. Sure, they'll charge your agent a small fee if your house sells via a lead that they provided. Sill though, the speed in which these sites can help sell your home is worth well the charge.
Share Your Listing on Social Media
Here's something that you can help out with. Take your home's Zillow/Trulia page and share it with your followers on social media.
You never know if someone in your immediate network is looking to buy in Dubai.
For an effective sale, use the most popular social media such as YouTube. Upload a cool video about your sell there. Use SocialBoss service for buying YouTube views on video to make it more attention and get the top position. This will help you attract potential buyers.
Step 4: Work With Your Buyer
After you and your agent have been marketing your house for a while, you'll hopefully find an interested buyer. Your agent will then work with the buyer's agent to come to terms on your home's sale.
If terms are reached, Form F will be prepared which outlines these terms in detail. If the buyer is purchasing your home via bank financing, their bank will likely need to evaluate your house to ensure that your terms are fair and that your home is in good condition.
"All cash buyers" don't need any bank intervention. That makes them a favorite option for those that want to sell a house in Dubai. Unfortunately, all-cash buyers are few and far between.
Step 5: Talk To Your Bank and Trustee Company
If you still owe money on your house, you'll have to let your bank know that you're selling it. They'll then give you any paperwork that you'll need to fill out in order for the property to transfer.
Once that's sorted, your agent will set you up with a trustee company that will hold all assets set for transfer to ensure that everybody holds up their end of the bargain.
Step 6: Make The Swap
When your house is ready for transfer to the buyer and they're ready to pay up, all assets will be in the trustee company's possession and the swap will be made.
With your money in hand and your buyer's new house in theirs, both parties can walk away happy.
Wrapping Up Our Sell a House in Dubai Tips
Trying to sell a house in Dubai shouldn't be all that more complicated than selling a house anywhere. With a quality agent helping you out, you'll be able to navigate small technicalities and get your home sold fast!
There is a tremendous amount to learn about the city of Dubai. To dive deeper into all there is to know, check out additional information on Dubai City Guide today!
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