{"id":2907,"date":"2022-11-20T07:32:06","date_gmt":"2022-11-20T07:32:06","guid":{"rendered":"https:\/\/emiratesbd.ae\/blog\/?p=2907"},"modified":"2022-11-20T07:32:07","modified_gmt":"2022-11-20T07:32:07","slug":"what-is-the-cost-of-selling-property-in-dubai","status":"publish","type":"post","link":"https:\/\/emiratesbd.ae\/blog\/what-is-the-cost-of-selling-property-in-dubai\/","title":{"rendered":"What is the cost of selling property in Dubai?"},"content":{"rendered":"\n

Preparing to sell your home is a huge decision that involves planning, from selecting an agent to deal with to finding the perfect buyer. In addition, a lot of sellers <\/a>aren\u2019t aware of the additional expenses related to selling a home in Dubai, which could come as a shock later. We\u2019ll look at the expenses involved in selling ready, off-plan, and mortgaged homes in Dubai today. These are the usual costs that any seller might expect; however, additional cost might apply depending on the house.<\/p>\n\n\n\n

What is the cost?<\/strong><\/h3>\n\n\n\n

NOC Fees<\/strong><\/h4>\n\n\n\n

One of the upfront costs that sellers should budget for is the price of issuing the No-Objection Certificate (NOC) in Dubai. To enable the transfer of ownership, you must apply for and pay for a NOC from the property\u2019s developer. This will allow the new buyer to take possession of the property. The NOC, which attests that the seller has no outstanding debts in the form of service fees or other obligations, is issued by the developer in Dubai. Additionally, it states that the developer has no issues with the property being sold. NOC fees in Dubai are typically paid by the seller and range from AED 500 to AED 5,000 on average.<\/p>\n\n\n\n

Agency Fees<\/strong><\/h4>\n\n\n\n

Another charge to sell property in Dubai is the seller\u2019s agent\u2019s commission. Working with a real estate agency in Dubai may greatly increase the visibility of a seller\u2019s home and draw in qualified buyers<\/a>. The standard selling agent commission in Dubai is 2% of the property\u2019s selling price. Form A, one of the RERA forms, must be used by sellers to name a seller\u2019s agent and specifies the percentage of the sale price that will go to the agent.<\/p>\n\n\n\n

Dubai Land Department (DLD) Fees<\/strong><\/h4>\n\n\n\n

Along with the NOC and agency cost, sellers need to include the Dubai Land Department Fees when selling property in Dubai. This charge is normally 4% of the property\u2019s selling price and is shared between the buyer and seller. It is paid to the Dubai Land Department, which controls all real estate transactions in the city. But the sale and purchase agreement between the seller and the buyer specifies the portion that each party owes.<\/p>\n\n\n\n

Transfer of ownership fees<\/strong><\/h4>\n\n\n\n

A final charge for administering the transfer of ownership must be paid to the registration trustee offices of the DLD as part of the costs associated with selling real estate in Dubai. Again, depending on the agreement, this is one of the charges of selling property in Dubai that is either paid in whole by the buyer or shared between the buyer and seller. The transfer fee, however, will vary depending on the sale price of the property. If the property is sold for less than AED 500,000, the fee is AED 2,100. It will be AED 4,200 if the property is sold for more than AED 500,000.<\/p>\n\n\n\n

Early Settlement Fees<\/strong><\/h4>\n\n\n\n

This is one of the expenses to sell property in Dubai when the mortgage <\/a>is settled sooner than expected. Homeowners and investors, on the other hand, will be relieved to learn that the decreased early settlement costs require sellers to pay only 1% of the remaining amount or AED 10,000, whichever is less.<\/p>\n\n\n\n

Blocking charges<\/strong><\/h4>\n\n\n\n

The blocking fees are yet another expense associated with selling a mortgaged home in Dubai. The seller pays this to put the property in the buyer\u2019s name before they pay off the seller\u2019s mortgage. This fee, which typically ranges from AED 1,020 to AED 1,520, is paid to protect the buyer by preventing the sale of the property to anyone else until they have settled the seller\u2019s debt.<\/p>\n\n\n\n

Mortgage Release Fee<\/strong><\/h4>\n\n\n\n

In addition to additional fees to the registration trustee, this is a cost that the seller must cover in order to pay off their existing mortgage. A conventional mortgage has a release cost of AED 1,290, whereas an Islamic mortgage has a release cost of AED 1,560.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Preparing to sell your home is a huge decision that involves planning, from selecting an agent to deal with to finding the perfect buyer. In addition, a lot of sellers aren\u2019t aware of the additional expenses related to selling a home in Dubai, which could come as a shock later. We\u2019ll look at the expenses involved in selling ready, off-plan, and mortgaged homes in Dubai today. These are the usual costs that any seller might expect; however, additional cost might apply depending on the house. What is the cost? NOC Fees One of the upfront costs that sellers should budget for is […]<\/p>\n

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