Selling a property on your own in Dubai requires careful preparation, a thorough understanding of the local market, and compliance with legal requirements. Here are the key steps to follow:

1. Determine the Right Price for Your Property

Pricing your property correctly is crucial. Research similar properties in your area (comparable sales) to understand the market rate. You can use online platforms, property listing websites, and recent sales data to gauge the current market value. Consider factors like location, size, amenities, and condition when setting your price.

2. Get a Professional Property Valuation

To avoid underpricing or overpricing, it may be wise to hire a professional property valuer. An expert valuation will give you an accurate market price based on factors such as location, property type, and market conditions. This can also help you justify your price to potential buyers.

3. Prepare Your Property for Sale

First impressions matter. Take the time to ensure your property is clean, well-maintained, and presentable. Consider making small upgrades or repairs that can boost your property’s appeal, such as repainting walls, fixing plumbing issues, or upgrading appliances. You may also want to stage the property to help potential buyers envision themselves in the space.

4. Market Your Property Effectively

One of the most important aspects of selling For Sale by Owner is effective marketing. To attract serious buyers, you’ll need to ensure your property reaches a wide audience:

• Online Listings: Post your property on popular real estate websites and social media platforms such as Property Finder, Bayut, and Dubizzle. High-quality photos and a well-written description will help your property stand out.
• Virtual Tours & Videos: Consider offering virtual tours or professional videos of your property to give remote buyers a detailed view.
• Word of Mouth: Inform friends, family, and colleagues about the sale. Networking can often result in connections to potential buyers.
• Signage: Place a “For Sale” sign outside your property if allowed by your community regulations. This can attract local interest from passersby.

5. Screen Potential Buyers

Screening buyers is essential to ensure that they are financially capable of completing the transaction. Ask for pre-approval letters from banks or other evidence of their financial readiness to buy the property. This will help avoid wasting time on buyers who may not be serious or financially prepared.

6. Negotiate the Sale Price and Terms

One of the advantages of FSBO is the ability to handle negotiations directly with the buyer. Be prepared to negotiate the price, closing date, and other terms of the sale. It’s important to stay firm on your desired price but be open to discussions and compromise when necessary. Make sure to have a clear understanding of the terms that you’re willing to accept before entering negotiations.

7. Prepare the Legal Documentation

Selling property in Dubai involves legal requirements that must be followed to ensure the transaction is valid. These include:

• Sale and Purchase Agreement (SPA): Draft a legal agreement outlining the terms of the sale, including the agreed-upon price, payment method, and transfer of ownership.
• Title Deed: Ensure you have the property’s title deed available for transfer. The Dubai Land Department (DLD) will require this document to finalize the sale.
• No Objection Certificate (NOC): If your property is under a mortgage, you’ll need an NOC from the bank to confirm that the loan has been settled or is in the process of being paid off.

While you can create these documents yourself, it’s always wise to consult with a lawyer to ensure the contracts are legally sound and protect your interests.

8. Close the Deal

Once you’ve agreed on the terms with the buyer and prepared the necessary documents, you’ll need to arrange for the transfer of ownership. This is done through the Dubai Land Department, where both parties will need to sign the documents and pay the relevant fees. You’ll also need to pay the applicable transfer fees, which are typically 4% of the property’s sale price.