How do I sell off the plan property in Dubai?

How do I sell off the plan property in Dubai?

The process of re-selling off-plan property in Dubai is similar to selling ready properties. You will need to first find a buyer who is willing to purchase the property. This buyer will need to need to get a No Objection Certificate (NOC) from the developer which registers the new buyer with the developer.

What does off plan mean in Dubai?

An off-plan property is an unconstructed property purchased directly from a developer or in some cases a first owner. In the case where the buyer is buying directly from the developer at time of purchase the buyer usually pays a 10-20% down payment and signs SPA (Sales Purchase Agreement).

How does off plan property work?

What does buying off-plan mean? Buying off-plan means committing to buy a property before it’s finished being built. This often means before it’s started to be built, but not necessarily: even if the property is well on its way to being finished, it’s still technically an off-plan purchase.

What are the risks of buying off-plan?

Risk of Delays When looking at buying off-the-plan you will be given an estimated time of completion. This could change due to unexpected circumstances. For example, suppliers could be out of stock or renting equipment delayed. Prepare for delays; make sure you have somewhere to live until your unit is complete.

How do you sell off plan?

The first step to selling your off plan property is to contact the developer and find out how much of the property must be paid off in order to obtain a sale No Objection Certificate (NOC). The exact figure or percentage will vary for different developers but is usually somewhere around 30-40%.

Can you sell off plan property in Dubai?

This value can vary from developer to developer, so if you plan to sell off-plan property in Dubai before completion, make sure to confirm with the developer you are working with before making the sale. Eligibility to re-sell an off-plan property can also depend on other terms set in the contract by the developer.

Who are the off plan developers in Dubai?

Off Plan Developers Emaar Properties Dubai Properties Damac Properties Azizi Developments Meraas Dubai Developments Dubai Creek Harbour Dubai Hills Estate Downtown Dubai Emaar Beachfront Palm Jumeirah © Copyright 2020, All Rights Reserved.

How can I buy property in Dubai and get residency?

First procedure is to buy a property in Dubai if you don’t already own one here. As a rule of thumb, in addition to paying the purchase price of the property, you will spend on average 6.5% on top. 4% of that will go to Dubai Land Department for Registration and 2% will be brokerage commission.

How to qualify for investor visa in Dubai?

The minimum threshold to qualify for investor visa in Dubai through property investment is AED 1 million. This investment can be in multiple properties however all properties should be ready and have a title deed issued by Dubai Land Department. Q: Can I Buy Any Property In Dubai And Get Residency?