how to sell a property in Dubai

Discussion in 'Dubai property' started by appletrees12, May 20, 2016.

  1. Domain Conveyancing

    Domain Conveyancing New Member

    A couple of things here;

    1) There is no regulation on who has to pay commission; real estate brokers will always try to get a commission from each party, especially if this is a transaction with a broker for each party. However, there is a Form called Form I, which is an inter-agency form, whereby these brokers share the single commission, usually the Buyer's. Savvy Sellers will be aware that 8 times out of ten, the Buyer pays the commission and its up to the agents to decide who is paying. Beware the agents who refuse to release details of the offer until you agree to pay them a commission!
    2) Real Estate agents are not allowed by RERA (the Real Estate Regulatory Authority) to act as POA for their clients. You will need to obtain an independent service provider for this. POA, for example from the UK, is issued as such; signed at Notary Public, Stamped at Foreign and Commonwealth Office (or equivalent), Stamped at UAE Embassy London, and then couriered to UAE for final stamp at UAE MOFA here.
     
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