I am about to market my one bed apartment for sale with an agent. If I am in UK then how will the sale transaction take place. I am in possession of the title deed. Is it safe to send this to agent or is it better to be there in person at time of transaction. Any advice would be appreciated.
Selling your property through a real estate agent while you are in UK is a simple and safe process. It was explained in detail by Mr. Zeeshan in a previous post. You can follow the link below to view the post. You can also find some interesting tips over there.
As Mr. Saud has already given you a link, you must check that for all the details given by Mr. Zeeshan regarding property sale. I would suggest you that before handing your property to any agent, do your search about the market price of your property. You can give details of your property over here and we will try to give you a rough estimate of market value of your 1 Bedroom Apartment.
Rest of the things are, contact few agents from "Agent Section" of bayut.com, try to make a deal with the agent who will tell you a good estimate of market value of your property out of all. As most of the agents will try to tell you lower than actual market price of your property. That is why search is quite essential before handing your property to any agent.
When you will be done with this process, Agent will ask you to provide few ownership documents like title deed. After allowing an agent to market your property, the process will continue till he will get a serious buyer for your property. Once you are done with it, you will need to sign MOU and deal will be finalized by agent.
Lastly, you might need to be physically present at the time of transaction (handing over of funds) at the land department, unless you decide to hand-over the power of attorney to someone who will represent you at the land department. The power of attorney template can be acquired from any agent and needs to be attested by the UAE embassy in London.
Hi everyone,
Thank you for your quick responses, this website is a Godsend!
I have contacted a reputable agency which has given me a guide price of dhs 280,000 to dhs 320,000. They said they would be willing to advertise for dhs 320,000, they stated that they already had one bed apts for dhs 340,000 which weren't selling! Also is it better to use a few agents to market property at same time, would three be ok or do you suggest more or less, please advice me.
You are most welcome Kauser I also like bayut.com a lot. Answering your question about marketing the property through more than one agent I would say that it is always better to do that and using three property agents to market your property would be fine. By doing this you can compare the price each agent suggests for your apartment and you have better chances to hit a nice deal as well.
Furthermore, I would recommend you to do your own research to determine the suitable price for your apartment. You can also provide the details of your apartment on this forum if you want the community members to give you a rough estimate of your apartment's asking price.
I agree to you that bayut.com responds quite quickly that is why I keep on checking this portal for different queries.
As all of us know that buying process is quite slow in Dubai right now. Therefore, I have suggested you to contact few agents to market your property due to certain reasons.
1. First and the foremost reason is that agents are a competent source of marketing your property. They can advertise your property through different forums like newspapers, property portals or different websites. That is why, you must contact as many agents as possible but make sure the agents belong to reputable companies. I think if you are satisfied with the choice of three you must go for it so you can easily manage the things with them.
2. Once the agents will advertise your property on different forums, greater are the chances that you will get a serious inquiry soon.
3. If you will get the multiple inquiries from different agents, the ball is in your court to get the maximum value out of your property. For example, If you get an offer at Dh320,000 and other at Dh340,000, then you can inform the first agent regarding the offer and his buyer might offer even a higher price than 340K. Let them fight for your property and maximize your return.
Also, if you have made your search about the market value of your apartment and the price which agents have told you is almost same then you must go for it and get your property marketed at the same price.
Lastly, if you want to go for a quick sale, then you must market your property at the lower end of the market range.
Hi Kauser,
Nice to hear about that you are very much satisfied with the quick responses from bayut community members.
As far as using agents to market your property, well dear using few agents would be I guess a better option or otherwise you have to face many buyers from different agents which would be much exhausted. Keep it simple, two agents are enough and do your research about the ups and downs of your property as well.
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