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For Sale By Owner

DubaiGirl1148038

43

Posts

EW NEWBIE

Latest post on 12 November 2011 - 18:00

Hello ladies,

In the US, we have a system to sell/buy apartments that is called for sale by owner - without using real estate agents. Is there such a system in UAE? We own a 2 bedroom apartment, and would like to sell it but dont want to pay agent fees from both sides. Could I post it on this site - is there a dedicated forum?

Thanks a lot for recommendations/advice.
DubaiGirl

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JaneClare1345586

17

Posts

EW NEWBIE

Latest post on 12 November 2011 - 21:19

Hi there...not quite as simple as it sounds, particularly if the Seller has a mortgage to clear. All MOUs etc should be legally binding, if you don't know what to look for it can be very dangerous, to say the least. Its usually the buyer who pays the 2% fee, so its very strange for a Seller not to want to go through proper channels when they don't have to pay for it etc. There is a company called MAK property conveyance.......they ensure all is correct, and charge both sides. Better to be safe than sorry!!!! Yes, it might be alot easier to buy/sell prop in Dubai, but, there are a lot more crooks around ready to rip you off. PLEASE TAKE CARE !!!

192

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EW NEWBIE

Latest post on 12 November 2011 - 20:07

You could sell it yourself on Dubizzle. Direct from owner. Second Claire to say that you can sell yr property on Dubizzle directly from owner. I'm sure buyers will be happy to avoid the RE agents and pay only the fee to land dept. You and the buyer can get a law firm to do the MOU for 5k intead of 2% to RE agency. HTH nB: shoud have added also the lawyer could also hold the deposit cheque if the buyer has to take a mortgage... Untill the transfert day at the land dept. <em>edited by Paris6 on 12/11/2011</em>

2383

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EW EXPERT

Latest post on 12 November 2011 - 18:43

Don't know if the system here has changed in the last few years, but when we sold our apartment it was marketed at the price we wanted 'net to owner' so that the purchaser paid the fees. Having done it, I wouldn't have liked to have done it alone. IF the procedure is still the same, but as I said it could have changed, I would be inclined to use an agent as there are government departments that you will need to visit and it helps to have someone with you who knows what they are doing. I'm sure someone on here will recommend a good agent if you decide to go that route. We had an excellent Arabic / English speaking agent but unfortunately she is no longer in Dubai. <em>edited by amelia on 12/11/2011</em>

2958

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EW EXPERT

Latest post on 12 November 2011 - 18:17

You could sell it yourself on Dubizzle. Direct from owner.

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