Are You a First-Time Home-Seller? Here’s How to Do it at the Right Price
Dubai is a beautiful city filled with people from various cultures and ethnicities. This dynamic city offers vast opportunities to its residents, which helps them to opt for a better life and a better home, and bid adieu to their old one. If you are a resident of Dubai and you are planning to sell your home for the first time, there are many things that you should consider before taking the first step. Selling your home in Dubai can be a stressful thing, and it becomes even more difficult without proper guidance. Below are the things you should know, do and avoid while selling your property in Dubai.
What to Know Before Selling Your House in Dubai?
Selling a house in Dubai can be a stressful and time-consuming process. You should know that selling a house in any city requires patience. It can take anywhere between 2 weeks to 3 months, and even beyond that. You need to be patient all this while and look for proper buyers without losing hope or giving up.
Another important thing to do before putting your house on the market is to decide the selling price. You must know that the value of your home can go up or down according to the changes in the real estate market. You cannot always get the exact buying price of your home at the time of selling. So, you should be prepared to accept these changes and sell your home at the current rate.
But you don’t certainly have to sell your home at the lowest asking price. Every buyer will want to negotiate, but you don’t have to surrender to their whims. Make up your mind and set a price limit, and make sure that you won’t accept anything lower than that. Negotiation is fine, but as it is your property, you get to decide the lowest selling price; If someone isn’t okay with that, you can always go for a different buyer. There are several other things that you should and shouldn’t do before selling a house in Dubai.
Things You Should and Shouldn’t Do Before Selling Your House in Dubai:
- Showcase Your Property in The Best Way You Can: You have to see through the eyes of a prospective buyer before you put your house on the market. The first impression holds a lot of value when it comes to buying property, so make sure that your house can impress prospective buyers. Present your home in the best way possible. This can help you not only get the best price but can also significantly reduce the marketing period.
- Choose The Right Price: As mentioned before, choosing the right price is extremely important. You need to be realistic and up-to-date with the current rates in the real estate market before choosing a selling price for your home.
- Hire A Real-Estate Agent with Proper Experience: Hiring an experienced real estate agent is important to sell your house at the best rate. Even though some people opt to sell their house by themselves, it is recommended for first-time sellers. Go for someone with a good track record and proper experience in the field to get the best deal for your house.
- Effective Marketing Policies: Marketing your house properly can directly impact the final selling price. To create a comprehensive marketing strategy, you need to research well on what works and what doesn’t. We can help you in these matters as well. Do not leave any stone unturned to promote your house so that you can get the best price for it. We make sure that your property gets 360-degree marketing support.
- Understand the Selling Procedure: If you are planning to sell your house in Dubai, make sure that you thoroughly understand the whole procedure before jumping on the wagon. Get all the necessary information about mortgaging, selling, and NOCs before putting your house on the market. Once you agree to sell your house, you need to enter into a Memorandum of Understanding (MOU). Signing it and a token payment of 10% minimum is required to apply for the NOCs from the developer. Now after getting all the clearances, both the parties need to visit the Dubai Land Department for the transfer of ownership. At this point of the transaction, the total purchase price needs to be paid. The title deed is made based on the mortgage status of the property. You can talk to us for guidance and information on this matter.
There are also several things that you should avoid doing while selling your home in Dubai. Here are some of them:
- Asking For an Unrealistic Price: You need to be real about the price you set for your home. Make sure that you do not ask for unrealistic rates, like prices too high than the current market rate in your neighborhood.
- Get Emotional: Selling a home can be an emotional thing for many people, but make sure to keep your emotions apart from a business deal. Getting emotional and backing out at the last minute can be an incredibly wrong decision to take while selling your home in Dubai.
- Selling Your Home at The Incorrect Time: There are specific periods in a year when the real estate market booms. Scorching summer heat can be of the worst times to sell your Dubai home due to the lack of buyers during this time. Then there is the holiday season when people tend to spend their time with their families rather than buying properties. So, make sure you get your house listed on the market at right time.
- Hiding Property Issues: Do not hide issues with your property while putting it on the market. These things never stay hidden, and when they come out, they can negatively impact the whole process. Talk to the buyers and inform them about issues in your property while it is on the market.
Selling your abode can be a tough job, but sometimes, it is the most responsible and profitable thing to do. So, if you think that you have the opportunity to sell a house at a reasonable price, don’t hesitate to take that option.