Sell property fast by knowing the process!
So you’ve decided to sell property in RAK that you own! Even with the existing laws, the whole process might get long and delayed if you aren’t aware of the sale process. It is only wise to know it all to avoid losses in time and money!
Sell your property- a guide
This is the foremost step that is listing your home. Get a clear understanding of the brokerages and specialist brokers in y our area and know their transaction record. Comprehend the marketing strategies and know how suitable or useful they are in listing your property. Merely putting a property listing means you must assure your home is listed and a broker presents it in the multiple marketing channels so that maximum viewing is generated offering a smooth transition. At Ganjina real estate, we assist you in deciding the right listing price that will help you find a buyer without much delay.
It is important to work with a professional real estate agency, to ensure your property is sold at the current market price. The real estate agent should be responsible for showing your property, advertising, and completing the legal requirements of selling your property. It is recommended to work with an agent having a strong portfolio and marketing tools. Once you choose us, you will notice the difference in quality and commitment towards getting your property sold.
After some time, you will start receiving offers. There is a need to study all these and pick the offer that meets your interest. Concentrate on the offer you chose and authorize the agent to initiate the paperwork. Once the offer is accepted, the agent collects a security deposit equivalent to 10% from the buyer and the Sale agreement/Memorandum of Agreement(MOU) is signed by both parties. This security deposit is used against buyer defaulting the terms of the Sale agreement or the MOU and protects the Seller.
After the MOU has been signed by both parties, the Seller is responsible to clear all outstanding dues with the developer and acquire the No Objection Certificate(NOC)to sell property. Any Mortgage has to be cleared, it is either cleared by the Seller, buyer or the Buyer’s mortgage provider.
Property transfer at Land Department
The property is now ready and so now the seller, the buyer, the mortgage consultant, if required and the real estate agent will meet in the RAK Land Department for registration and to finalize the payment and paper work. Based on the bank, buyer dealing and the seller receiving cheques may vary, so ensure the bank issues a letter informing the cheque will be handed over on the exact specified date.
If a bank is not involved, the Buyer will be issuing a Manager’s check to the Seller after rental income and other amounts have been adjusted from the Sale amount.
Selling your home cannot be taken lightly. The term ‘sell my property fast’ is a big decision.. Trust and transparency plays a vital role and finding the right, trustworthy realtor is a vital.