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Sellers’ Guide:

As weary as buying or investing in a property can be, selling your investment or property is an entirely different struggle. Your investment is very close to your heart, it is a product of your blood, sweat and tears and therefore, it should not go in wrong hands and you should still get the same value for it monetarily and emotionally that you initially invested. Thus, in a time like this, you need proper guidance and direction more than ever. An adviser who can command you in the right direction and orchestrate you to take the most viable decision. It is in these times that people tend to turn to EbbStone Real Estate Co.

EbbStone Real Estate Co. prides itself in having one of the most bonafide teams who have been in the market for years and possess the technical and psychological capability of guiding the clients in the best way out. We possess a reputation of being one of Dubai’s most trusted brokers and with a sparking track record of selling hundreds and thousands of properties at great prices in the past, our clients trust us with the value for their properties. Industry knowledge, tricks of the trade and a strong engagement with people of the business over the past years attribute to our unmatched efficiency in getting our clients the best rates for their properties in Dubai.

EbbStone Real Estate Co. – The Perfect Platform:

EbbStone Real Estate Co. has always believed in investing in the right things. With extensive Customer Relationship Management tools brought into practice over the years, we are equipped with the smartest digital applications and platforms that track and store data in huge amounts. These CRM systems have huge databases that store client information and list out potential clients and buyers for our sellers meeting their preferred criteria and requirements. These listings generate lots of buyer interests translating this data into a steady flow of qualified and highly scrutinized clients viewing your property, which helps you achieve a solid market price.

In addition to all this, our brokers are extraordinary as they are all RERA certified and with an in-depth knowledge and information on changing industry trends, requirements and preferences, they coil out the best options for you.  EbbStone Real Estate Co. offers specialized packages that range from the Basic ones providing you with a list of potential buyers for your property to Premium ones where our experienced Brokers & Agents actually do everything for you and ensure you find the best most competitive selling rate for your property.

Initial Steps:

The whole selling process usually takes between 4-8 weeks depending on some direct factors influencing the procedure like seller’s financial budget, constraints and the condition of the property. We always advise our clients to put themselves in buyers’ shoes and then imagine what would a buyer’s expectations and premonitions be when making an investment in their property. It helps them understand the client’s perspective better and then condition their property and pitch it in a more relatable and proper manner.

Our Agents handhold you through it all advising whether or not you need to renovate the property a bit? How many RERA certified agencies should you market your property in? What marketing strategy would suit your property better? How to achieve it? Etc. etc. These are some very important questions that should be addressed before pushing out your property in the public eye and our experts help you with all these. This is why finding the right agent is of extreme importance when selling out your property. EbbStone Real Estate Co. boasts of an extensive team of such seasoned and vetted agents who can help you with your property sell out and gives you, our clients, an open option to choose the ones that suit them the best.

Make your Property Visible & Open:

It is of extreme significance that you make your property visible to the market and a larger audience. For this, you do not only need to put a visible sign outside your property telling people that its up for sale but also, market it in the best way with utmost visibility across the region. This way, our agents can help you achieve great leads and offers with a high potential of turning productive. Just be honest and direct with your agent regarding every single meticulous detail from the condition of your property to the pricing you have in mind etc. and leave the rest to them.

Sign on the Dotted Line:

Once a price has been agreed and a contract/Form F signed by both parties, the sale documents are prepared, which include Purchase Sales Agreement, an original title deed, floor plans, and location map. This is how it goes next:

The seller and buyer sign a Memorandum of Understanding (MOU) through the real estate agent and the buyer pays a 10% deposit held by the broker. If financing is involved, the buyer’s bank conducts an independent property survey to determine the buyer’s loan amount, and to ensure the sale price is at a fair market level – a property assessment is required before transfer. Following the assessment, the buyer’s bank issues a final offer letter (not required for cash buyers).

 

In case the Property is Mortgaged:

The scenario switches a little if the property is mortgaged. In this case, the seller obtains a liability letter from their bank (cash sellers will not need this step), valid for 15 days. Once the liability letter is received, the buyer’s bank pays off the seller’s mortgage. The seller may be required to sign some documents, as advised by the buyer’s bank or mortgage consultant. After mortgage settlement by the buyer’s bank, the seller’s bank issues clearance documentation, around 5 days after the loan has been cleared. The buyer’s bank must settle the seller’s mortgage, prior to No Objection Certificate (NOC) application — which is the developer’s consent that the property is free of debt, ties or liens and can be transferred.

All parties (buyer/seller/agent/conveyancer) meet at the developer’s office to apply for a NOC. The property also requires clearance for any outstanding service charges. The NOC is submitted to the buyer’s bank, which then prepares the final transfer documentation. All parties (buyer, seller, buyers bank or mortgage consultant, agent or conveyancer) meet at a RERA approved transfer center (or developer’s office for property still under construction) to issue the buyer or buyer’s bank a title deed with new ownership details.

As of January 2018, fees are subject to 5% VAT.

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