Seller Guide

LYD Seller Guide

Your home is a huge part of your life, both financially and emotionally. So the decision to sell a house is not one to be made lightly. You need to determine a marketing strategy. Price the house to attract buyer interest. There are a million other details to sort out. Partner with your local agent. You can depend on LYD Real Estate to guide you through your house-selling process with confidence.

How to choose a realtor?

When looking for agents to work within the UAE, ask for the company’s registration number with RERA. It is also useful to ask about the company’s area(s) of expertise and range of services. LYD Real Estate agents have access to unparalleled tools and resources & world-class education and training that makes them excel in their areas of expertise.

RERA registered brokers

Every individual working under a brokerage firm and as a real estate agent in Dubai requires individual registration with the authorities and is issued a photo identity card with a license number from RERA (Digital ID).
Agents have to attend and pass the RERA real estate course and exam, and they will be provided with an annual RERA card which is renewable. Every agent must be registered under the umbrella of a real estate company.

List price, sales price, CMA value and appraised value

List Price

The list price is the asking price of the property; this is negotiable. Normally seen in online property portals.

Sale Price

The sale price is what the owner will settle at. Data available from DLD

CMA Value

The real estate agent can provide a comparative market analysis for free to give the buyer a sound idea of what is sold and at what rate, and what is available in the market for a comparable property. The list price is at the discretion of the Seller.

Appraised Value

This is the price provided by specially appointed agencies by the banks to approve mortgage amounts. There is a fee of about AED 3,000-5,000 charged by the banks for this service.

Need help leasing your property? Schedule a call with Real Estate

Listing your property for sale

To list your property, you need to sign a listing form (Form A) which carries all relevant information of the property.

Documents needed are:

Title Deed of the Property or Oqood

POA – Power of Attorney, attested in Dubai Court – if the owner of the unit appoints someone to sign on their behalf. The validity of POA is 2 years and it is renewable.

Valid Passport copy

Signed listing agreement (Form A)

Getting information on property market value

Speak to your agent who is specialized in your community. He/she will be able to advise you on the current market value of your property. You can find out the value of your property through your agent who can provide you with a comparative market analysis.
LYD Real Estate Agents have access to statistical data and real-time transactions for all properties in Dubai.

Setting the price on your property

LYD Real Estate agents will strive to obtain the highest possible value for your property, through a home enhancement recommendation and a customised marketing plan.
Please refer to LYD Real Estate agents for more details on the benefits of the exclusive listing.

Preparing your house for sale

The property should be in good and clean condition, as the condition of the property reflects on the price.

Exclusive listing with us will get you lot of advantages:

– Professional photography and video production – Complimentary

– Open House – Complimentary-

– Premium and Featured listings on property portals – Complimentary

Registration cost of title deed

The registration cost of the Title Deed should be shared between the buyer and the seller, but in practice today, it is paid by the buyer. Standard fees are 4% of the property sale price.

Rented property:

Rent will be calculated on a pro-rata basis. The rent from the transfer date till the contract expiry will be reimbursed to the buyer along with the tenant security deposit.

Other costs for sellers to consider

  • • Clearance of mortgage (cancellation fees) – maximum AED 10,000 Clearance of service charges/maintenance fees
  • Settlement of DEWA / District cooling Developer’s NOC if required – AED 500 – 5,000
  • Transfer fees with the land department + mortgage discharge fee
  • Agency Commission – the standard is 2% of the sale price. The commission can be shared by both parties, and this is agreed upon beforehand.
  • Commission should always be paid to a company, never to an individual. The commission is to be paid at the time of transfer.

Documents required for selling your property.

Depending on the status of your property, either complete or incomplete, you will need the following documents:

If Seller is an Individual:

  • Valid Passport copy
  • Valid visa page (for UAE Residents)
  • Emirates ID copy (for UAE Residents)
  • Valid visit visa (for non-residents)
  • Title deed or Oqood developers contract + Original SPA
  • Form A signed.
  • Proof of address
  • Property Completion certificate
  • No objection letter from the developer to transfer property.
  • Receipts of payment to the developer
  • Cheque copy of Security Deposit (if applicable)
  • Proof of payment of service fees if the property is completed.
  • Dewa and Service charge payment
  • Power of Attorney document (if applicable). If POA is issued outside UAE, it must be attested by the UAE Foreign Affairs
  • Ministry locally in UAE.
  • Passport copy of POA holder (if applicable)
  • POA on behalf of the joint Seller, attested by the UAE Foreign Affairs Ministry locally in UAE (if applicable)
  • If the outside broker is involved, Agent to Agent agreement (Form I) is stamped and signed with complete client details (to be
  • prepared before MOU is signed)

If Seller is a Company:

  • Trade license copy
  • M.O.A. copy
  • Title deed or Oqood developers’ contract + Original SPA
  • Passport copy of Signatory.
  • Form A signed.
  • Dewa and Service charge payment
  • Power of Attorney document (if applicable). If POA is issued outside UAE, it must be attested by the UAE Foreign Affairs Ministry locally in UAE.
  • Passport copy of POA holder (if applicable)

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