How to Sell Off-Plan Property in Dubai

Find a buyer, negotiate the deal, and get NOC from the developer. Before finalizing, ensure that all documentation is in place. Now, sign the contract; your off-plan property has sold out. 

Dubai’s real estate market offers a plethora of investment options. One of them is selling off-plan properties in Dubai. The demand for such sort of properties is rapidly increasing in Dubai because of significant value appreciation upon completion and smaller initial deposits. 

Off-Plan Properties In Dubai:

Off-plan property is a type of property that is yet to be developed. Properties that are sold out during pre-construction or under-construction phases are referred to as off-plan properties. It is deemed a beneficial investment option because of low upfront costs, lower prices, suitable payment terms, and capital appreciation. These types of properties can also be sold out even before completion. Yes. It is possible to resell an off-plan property in Dubai.

If you want to resell your off-plan property, then we have got you covered. Give it a read and understand the selling process and ownership transfer of an off-plan property in Dubai, UAE.

How To Sell Off-Plan Property In Dubai:

First of all, you should verify the terms and conditions mentioned in the contract before initiating the process of reselling your off-plan property. 

It is pertinent to mention that you need to meet the requirements set by developers in the contract. As soon as you meet these set criteria, you can start off reselling process for your off-plan property.

Determine Your Eligibility

First of all, you should determine whether you can resell a specific off-plan property or not. Owners are normally required to pay a minimum of 30% of the total amount before reselling a property. If you have paid 30% of the total amount, you are permitted to resell your property.

Find A Buyer

Many people in Dubai are interested in buying off-plan properties for various reasons. You need to find the most viable and suitable buyer. You can seek the assistance of a real estate company such as Kelt & Co Realty to find a suitable buyer for your off-plan property. Kelt & Co Realty will not only find investors but also strive to get the maximum possible ROI.

Decide Sales Terms

After finding a buyer, start negotiating terms and conditions. Your real estate agent can work on your behalf and decide what suits you the most. Besides deciding on payment and its method, you can also decide on things such as transfer dates and other special conditions.

Get NOC From The Developer

Now, the seller should approach the developer and obtain a No-Objection certificate (NOC). It is mandatory to obtain an NOC if you want to resell your under-construction property in Dubai. This letter ensures that the developer has no objection to this reselling matter. The NOC is basically deemed permission from the developer to the current owner to sell the property to another buyer.

Sign The Contract

After agreeing on specific terms and conditions related to that property, it is time to craft and sign the contract. You must ensure that the contract includes everything, such as the buyer’s obligations to the developer, installment payments, etc.

Transfer of Ownership:

The final step is the transfer of ownership. The seller receives payment for the sale of the property. He also receives a payment that he has already paid to the developer. The buyer is the new owner now.  Upon signing the contract and transferring the property, the buyer is responsible for all outstanding dues.

Summing Up:

Pre-construction and under-construction properties are called off-plan properties. A significant number of people purchase under-construction properties in Dubai for various reasons. If you have purchased a property that is yet to be completed, it means you have purchased an off-plan property. This sort of property can also be sold out before the completion of development work.

Under-construction properties can be sold again if the owner intends to resell. The owner needs to follow the set criteria. It is a prerequisite to pay 30% of the total amount before selling an under-construction property. A seller can get the services of a real estate agency to find an investor. He needs to get an NOC from the developer, and then he is free to resell his property.

Want to Resell Your Off-Plan Property In Dubai? Consult With Us:

Kelt & Co Realty is a real estate agency that helps people buy and sell real estate in Dubai. It also facilitates people who intend to resell their off-plan properties in Dubai. This property company finds the most suitable investor, negotiates on the owner’s behalf and generates maximum ROI out of the deal. If you, too, want to resell your under-construction property in Dubai, get our services and make the desired profit. 

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