Before selling a property in Dubai there are many questions that have be considered:

·         What should be the price of the property

·         Where should it be listed

·         What legal contracts are involved

Without proper answers to these questions one can be lost and end up getting a price much lower than market value. Before you start the selling process consider the questions below and see how W2 Realty can ensure a smooth selling cycle.

I plan to sell my property in Dubai, Where do I start?

The first thing to do when selling a property is to procure the services of a good real estate agent. Dubai’s property market is extremely versatile and constantly changing. By using the services of a professional real estate agent you can rest assured that you will get the best price with the least hassle.

W2 Realty has been working in Dubai for a number of years and has numerous years of experience in the Dubai market. We can guide you at every step of the way from setting the price to finalizing the legal contracts.

Do I really need a Real Estate Agent for property services in Dubai?

The short answer is no. There is no legal requirement that you engage the services of a real estate agent. However trying to sell your property without one would be like trying to put the engine of your car back together without a mechanic. It is something that can be done, but the process will no doubt be a long and complicated one. The same applies for selling property. Without a real estate agent you would personally have to set the proper price, find buyers, negotiate, draw up legal contracts etc.

By working with W2 Realty you can rest assured knowing that the experts are handling all the details for you. We take care of everything from setting the right price to finding the buyer and working with the lawyers.

How is real estate valuation done in Dubai?

As a general rule, real estate prices are based on the following factors:

·         Price of units listed for sale

·         Price at which units were previously sold

·         Locations and amenities of property

Records of previous property transactions can easily be obtained from the Lands Department which stores all such records.

In recent times due to the downturn of the housing market there can be a large disconnect between the prices being asked by seller and what buyers are willing to offer. This volatility in prices can become the source of frustration for sellers who do not do their research properly as they can find their property sitting on the market for extended periods of time.

W2 Realty constantly monitors prices for properties on sale and those that have been recently sold to ensure that the price we advise our customers to set is on par with the current market situation and ensures your property does not sit on the market.

I've had several valuations. Which Real Estate Agent do I choose?

As with any other business transaction, it is very important to feel comfortable with the company you are working with. However in the world on business this comfort level has to be backed up by knowledge and experience. When dealing with a real estate agent the first thing to ensure is that they are certified by RERA to ensure that everything is legitimate and legal. At the very minimum a good real estate agent should also be able to offer you the following information:

·         Facts and figures about the property

·         Accurate and realistic pricing

·         Information about community and surrounding areas

·         Mortgage and legal procedures

If an agent cannot provide you with such information it would be a cause for concern and the agent should be reviewed.

All of our agents are extremely knowledgeable about Dubai and its real estate market. They will not only provide in depth information about the property but can also provide information on locations and processes.

How much do estate agents in Dubai charge, and is this negotiable?

The standard charge for estate agent’s services is 2% of the selling price. During Dubai’s real estate boom this was paid by the buyer. As the market started to cool down the fee was sometimes paid by the seller, however more often than not the fee is built into the price of the property.

If you would like to see your property quickly sold off, extra incentives can be offered to the real estate agents if they are able to sell the property in a designated amount of time.

How do you choose a lawyer for real estate transactions and what are the associated fees?

You are free to choose any lawyer that handles property cases. However if you are working with a real estate agent chances are that they have a network of lawyers that they already work with. It is advised to use these lawyers as they already have a working relationship with the company and the transaction can be completed faster and smoother than if a new lawyer was involved. The fees for lawyers vary from one firm to the next. Choosing the lawyer with the lowest fees can often times come back to haunt you as they will have subpar services and can complicate the entire procedure. To get an accurate picture of how much you will spend, all services and costs should be finalized before starting to work with any law firm.

W2 Realty has access to a large network of lawyers. They all have successful track records with real estate cases and we can help you negotiate a price that you would not be offered to you on your own.