How to Sell Off-Plan Property in Dubai

Dubai’s real estate market is dynamic and fast-paced, offering numerous opportunities for investors. If you’ve purchased an off-plan property and are considering selling it before completion, this guide will help you. From understanding the basics to executing the sale, follow these steps to ensure a smooth transaction.

• Understanding Off-Plan Property Sales in Dubai
• Tips to Sell Off-Plan Property Before Completion

A Guide to Selling Off-Plan Property in Dubai

What Is Off-Plan Property?
Off-plan property refers to real estate purchased before construction is completed, based on plans and models. Investors often buy off-plan properties at lower prices, hoping for capital appreciation and customization options.

Key Documents for Selling Off-Plan Property

1. Sale and Purchase Contract: Agreement signed between the developer and the buyer.
2. No-Objection Certificate (NOC): Obtained from the developer to approve the sale, typically costing AED 5,000. It can be obtained through the Dubai REST app.
3. Identification Documents: UAE ID for residents; valid passport for non-residents.

Setting the Price and Advertising
Set a competitive price based on the market. Use a real estate agent or brokerage to list the property on major platforms and reach potential buyers through their network.

Receiving Offers and Issuing Receipts
When an offer is accepted, issue receipts for any down payments. These are needed for the buyer to register the property and complete the sale.

Registering the Sale with the Dubai Land Department
To finalize the sale, register the transaction with the Dubai Land Department via a service center, the Dubai REST app, or the Oqood portal for developers. This process typically takes 25-35 minutes.

Property Sale Registration and Transfer Process in Dubai

1. Registering Sale via Service Center

• Visit a Real Estate Registration Trustee Centre and ensure all documents are ready and uploaded.
• Employee inputs sale details, and you pay the required fees: 2% of the sale value from both seller and buyer, plus additional property-related fees.
• Receive the payment receipt and an e-Certificate of title via email.

2. Registering via Dubai REST App

• For Sellers: Log in, select the property to sell, upload details and buyer’s information, then submit.
• For Buyers: Select ‘Buy a Property,’ enter the seller’s reference number, verify details, upload documents, and complete the payment.

3. Registering Off-Plan Property via Oqood Portal (for Developers)

• Developers use the Oqood portal, providing required documents and paying self-registration fees.
• Receive the Provisional Registration e-Certificate.

Fees Overview

• Sale Registration: 2% of sale value for both parties, plus extra fees for maps and other documents.
• Developer Self-Registration: AED 1,000.
• Payment options include ePay, Sadad Dubai, Noqodi, or manager’s cheque.

Final Ownership Transfer

• Complete the sale by transferring property ownership with DLD. The developer updates records, officially transferring the title deed to the buyer.

Essential Documents for Property Transfer in Dubai

• Transferor letter.
• UAE ID or power of attorney (if the owner is absent).
• Valid passport copies for non-residents.
• Trade licenses for companies.

Steps for Service

• Visit DLD’s Customer Happiness Centre.
• Submit documents; employee enters transaction details.
• Pay fees and receive a payment receipt.
• Transaction undergoes audit and approval.
• Approved e-certificate of title and e-map are emailed.

Service Fees

• AED 250 for title certificate.
• AED 100-225 for land map, depending on location.
• AED 250 for apartment/villa map.
• AED 10 each for knowledge and innovation fees per drawing.

Payment Options

• Cash, cheque, credit card, or ePay.

Documents Issued

• e-certificate of title and e-map.

Service Duration

• Approximately 25 minutes.

Tips for Selling Off-Plan Property Pre-Completion

• Competitive Pricing: List 10-15% below expected post-completion value.
• Flexible Payment Plans: Attract buyers with low initial down payments.
• Effective Marketing: Highlight unique features, location, and developer reputation.
• Agent Network: Partner with experienced agents for broader reach.