FAQ's on Selling Residential Property in the Northern EmiratesHome > Residential > Sell > FAQ's on Selling Residential Property in the Northern Emirates
What properties does Better Homes deal in specifically?
Better Homes sells, leases, and manages both residential and commercial property. This includes leasehold, freehold properties, land, hotels, towers, and communities. However, only those properties specifically located in freehold areas are available to non-UAE nationals to purchase.
What can I do to fasten the selling process?
First impressions are very important. Get your home in perfect condition. Make all necessary repairs before putting your home on the market. Most home buyers want to buy a home that’s in 'ready to move in' condition, without having to arrange for fix-up work.
Can I resell this property?
Yes. Freehold ownership provides the owner with absolute ownership and with rights to sell the property. However, there are slight deviations in rules and regulations levied by different developers. Resale of ready-now properties are possible at any time, while resale of off-plan properties is possible only after a certain number of installments have been paid.
What does 'original price' mean?
The original price is the price at which the developer released the property for sale initially.
What does 'selling price' mean?
The selling price is the price at which the property is currently in the market.
What does 'premium' mean?
The premium is the difference between the base price and the selling price. In other words, it is the initial investor’s profit. For example, the developer originally sold the property at AED 1,000,000 to Mr. Smith. After a period, Mr. Smith now wishes to sell it at AED 1,200,000. The premium is AED 200,000.
What are the projected appreciation values over the next two to five years?
It is difficult to project appreciation values, as the market is very new. However, we are confident that when the market stabilises, property in the Northern Emirates will make for a good long-term investment.
Does Better Homes charge a fee?
Yes, we charge an agency fee of up to 3%.
What other costs are applicable?
Other purchasing costs may include a transfer fee to the developer of resale properties. This is usually between *1% and 7% (depending on the development) of the base price of the property.
*To be confirmed with the developer and Lands Department. |
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