Property Selling Process
Step 1 - Property Valuation
Our agent will assess the state of your property and any improvements you have made and then value it according to the going market rate of your area and type of property. The valuation is particularly important as if you have a buyer who will purchase via a mortgage provider, they will not value your property higher than is realistic.
Step 2 - Choose an agent
Upon choosing Lannhill you can count on a professional team, which will work hard for you seven days a week to market your property via our web-site, all major property portals, as well as our extensive client network.
Step 3 - Sign an agency agreement
Once you've decided which agent you want to use, including Lannhill, we will sit down with you and discuss what services you need us to provide to you in detail. We will then draw up an agreement highlighting the conditions and fees.
Step 4 - Clean & prepare
The more presentable a property the higher the price it will fetch. As Dubai's market is maturing buyers have become more discerned. Therefore make sure you have your property professionally cleaned inside out, after checking for any required maintenance (including plumbing and A/C) and repair work have it painted - properly. Even in an area of high demand a property, which looks like it hasn't been looked after, will take more time to sell or you will be forced to reduce the asking price. If you have a garden call a gardener if needed, make sure the greenery is green – not burnt. This means during the summer months investing in someone watering your garden regularly whilst the property stands empty. If you have tenants, you have to take into account that the buyer will have to take them over until the end of their tenancy contract. Inform your tenant of your possible sale and cooperate with them on the viewing of the property.
Step 5 - Market the property
Too often you find properties advertised where image and the individual property don't match. We will put together an honest description of your property highlighting its selling points and include photos showing it in its best light.
Of course you can market your own property on places like Dubizzle, but we can do the job for you, offering a more integrated marketing package, including Dubizzle, Propertyfinder and the likes.
Step 6 - Accompanied Viewings
Our RERA licensed agents will take potential buyers around your property at a time that suits them. Meaning we're available during evenings and weekends as well, when most have time. We don't just send anyone but an agent with in-depth knowledge on your property; prospective buyers are less likely to deal with and agency, which looks like they have no idea what they are talking about. A professional knowledgeable attitude, including of the market in general and regulations instills trust and is crucial for making a sale.
Step 7 - Receiving an offer
Keeping your minimum requirements in mind we will try and get you the best offer. However, if we feel that the property will move slowly i.e. in an area of low demand/oversupply we may suggest you to be flexible with asking price, depending on whether you can afford to keep the property and whether we believe it could still gain value over the short-term.
Step 8 - Agreeing to Sell
Once you've agreed to an offer we will initiate the sales process, including the vetting of the prospective buyer. We will discuss how the property will be paid for and agree on a handover date. We may ask for a deposit to secure the property.
Step 9 - Signing of agreement
Once the agreement is drafted, reviewed and accepted by both sides, it will be signed and the sales proceeds will be deposited in our trust account to be handed over to you as they keys get handed over.
Step 10 - Lannhill Conveyancing & Transfer of Ownership Title
Lannhill Conveyancing will make sure that the title deed of your property is transferred to the buyer and properly registered with Dubai's Land Department (DLD). The DLD fee to Transfer the ownership will be 4% percent of the purchase price, this will usually be paid by the Buyer.