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If you have a commercial property you wish to sell, the first thing to do is get it registered with a trustworthy real estate agency. An agent would be able to give you the correct appraisal depending on various factors like location, builder, age of the property and others. Agents are also well-abreast of the market trends and real estate fluctuations so as to provide clients a valuable advice on their asset.
When choosing your real estate agent, it is better to ensure that he is accredited and licensed by the Real Estate Regulatory Agency (RERA). He should also provide you with a marketing coverage and availability of viewing appointments. A reliable agency also helps in taking high-definition photographs of the property and promoting it through their sources.
Since first impressions are very important, it would be necessary to touch up on any repair and maintenance jobs your property may require. Landscaping should be neat and tidy. Brush a fresh coat of paint and fix a few cracks, and deep clean the whole property to spruce up your asset and add more visual appeal.
The agent would then suggest a suitable market price, after which the property is put up in the market for a definite period.
Once a sale is made, the buyer and seller will sign a contract approved by RERA known as an agreement of sale together with a memorandum of understanding (MOU). The buyer is required to pay an initial deposit of 10% and the rest of the fees according to the terms and conditions agreed upon. Most property agents facilitate all processes till the transfer of the title deed is complete.
Some property agents provide the concierge seller service, which allows you to sell your property fast and at the highest achievable price. After you sign up with them, your property will be listed with many reputed real estate agencies and online marketing channels including leading daily newspapers in the UAE.
Handy Hints on selling your commercial property
• Getting your property listed with a real estate agent is important
• Ensure that you hire a RERA-certified and reliable property agent
• Be sure to spruce up your asset before putting it in the market
Source: Zenifer Khaleel, Special to Properties
The writer is a freelancer