Luxury Realtor dxb

19/01/2023

SOBHA Hartland 2 - Meydan
8 Million Sq.Ft

Mixed Use Development with Apartments, Villas, Man-Made Forests, Clubhouse, Schools and much more.

122 Villas in Total
(95 are 5 BHKs) and others are 6 BHK and Mansions

All villas will have a forest, swimming pool, internal lift and accessible rooftop with them.

A separate clubhouse for Villa community will be built as well.

Completion Timeline - Dec 2025

08/11/2022

28/09/2022

HOW TO RESALE OFF-PLAN PROPERTY IN DUBAI

To start the selling process you must have:

✓ Certificate of ownership for property under construction – Oqood

It is received by the developer and sent to the buyer by email.

✓ No Objection Certificate (NOC) from the developer

You must pay a certain percentage of the property value. Usually, 30%, unless otherwise specified in the Sales and Purchase Agreement (SPA).

SALES PROCESS

The agent lists the property on real estate portals
↓
When a buyer appears, the transaction process starts
↓
Several documents are signed, and can be done remotely:

• Form F or MOU (Memorandum of Understanding) – an agreement between the seller and the buyer

• Agreement between the buyer and the agent, as well as between the seller and the agent

• Addendum to contact – an additional agreement where the costs of the parties are signed
↓
The buyer deposits 10% to guarantee the transaction
↓
Registration of NOC at the developer's office
↓
Registration of the transaction in the Trustee office – a licensed office where the sale, exchange of funds and re-registration takes place

SELLER'S EXPENSES

✓ Agent commission 2%
✓ NOC ~$1,400
✓ Power of attorney (POA), if the transaction takes place remotely ~$550

WHAT IF YOU HAVE NOT PAID THE REQUIRED % TO THE DEVELOPER

The buyer can pay it for the seller, however, the buyer must have a sufficient incentive:

✓ Low price
✓ High demanded unit

For example, you buy an apartment for $1 million at the launch, invest 40%, that is, $400,000, and resell it for $1.2 million at a later stage of construction.

Profitability: 200,000 ÷ 400,000 = 50%

But you should be financially prepared as reselling may take time. You might have to pay more than 30% or even full cost to the developer while you wait for a buyer or a good resell price.

Do you have any questions? ➤ Ask me experts in the comments and DM.

27/09/2022

Spot cash award 🥇!

Read flyer for details

22/09/2022

Have coffee, tea or juice with me!

Are you an Investor open to expanding your portfolio to dubai real estae?
or
Are you an individual , an agency who work with HNIs or UHNIs looking to expand their investment portfolio.

Here a morning coffee , tea or juice invite where I take you on a tour at Sobha Realty Harland , a 8Million acres Community with iconic views in Mohammed bin Rashid city ( named after our ruler) in meydan, the heart of dubai , few munites to downtown.

Cheers 🥂 to making success together