Sales Process – Ready Property

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 Sale Process - Ready Properties

1) Establish the sale price through negotiation with buyer and seller

2) Ensure all documents with you

• Title Deed
• Passport of all owners
• Passport of all buyers

3) Check whether the seller has a mortgage & whether buyer needs
mortgage.

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 Process for Cash Seller/ Cash Buyer

1) Prepare MOU/Form F between the parties

2) Check buyer time scales to ensure MOU dates are relevant

(Re money to Dubai)

Take 10% Security deposit from both buyer and seller (This stays
with Premier Estates)

3) 10 days prior to transfer, seller must apply for NOC from master
developer. This can take 5-7 working days dependent on the
developer and there is a charge (Seller pays the charge)

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 Process for Cash Seller/ Cash Buyer

4) When NOC is issued, both parties proceed to the Transfer Office.

Documents required as follows:

• Original passports – Both parties

• Original NOC
• Manager’s Cheque only for full payment to seller
• Manager’s Cheque for 4% DLD + AED 580 Admin Fee
• AED 4,000 cash for Transfer Office
• Managers Cheque for 2% Agency Fees

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 Process for Cash Seller/ Mortgage Buyer

1) Prepare MOU/Form F between the parties

2) Check buyer funding time scales to ensure MOU dates are

relevant and add Pre-Approval Document

3) Add valuation clause to MOU/Form F (We

have prepared documents)

4) Buyer will send signed MOU/Form F to Bank and Bank will connect
for valuation timings.

5) Once valuation is done buyer will receive Offer Letter

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 Process for Cash Seller/ Mortgage Buyer

6) 10 days prior to transfer, seller must apply for NOC from master
developer. This can take 5-7 working days dependent on the
developer and there is a charge (Seller pays the charge)

7) When NOC is issued, this is sent to buyer’s bank & they will raise
cheques for seller. They will advice transfer timing etc.

Documents required as follows:

• Original passports – Both parties

• Original NOC
• Manager’s Cheque only for full payment to seller
• Manager’s Cheque for 4% DLD + AED 580 Admin Fee
• AED 4,000 cash for Transfer Office
• Managers Cheque for 2% Agency Fees
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 Process for Mortgage Seller/ Mortgage Buyer

1) Prepare MOU/Form F between the parties

2) Check buyer funding time scales to ensure MOU dates are

relevant and add Pre-Approval Document

3) Ensure Pre-Approval in place & seller liability amount is checked

4) Draw up MOU/Form F & incorporate valuation clause

5) Valuation is then carried out

6) Once valuation is done, Liability Letter is requested from seller’s

bank

7) Liability Letter goes to the buyer’s bank

8) Bank raises Cheque to clear seller’s liability 7

 Process for Mortgage Seller/ Mortgage Buyer

9) Clearance documents are issues from seller’s bank (Can take 10

days). Only buyer’s bank can collect it.

10) Letter appeared to Developer is taken to apply for NOC

11) When NOC is issued, both parties proceed to the Transfer Office.

Documents required as follows:

• Original passports – Both parties

• Original NOC
• Manager’s Cheque only for full payment to seller
• Manager’s Cheque for 4% DLD + AED 580 Admin Fee
• AED 4,000 cash for Transfer Office
• Managers Cheque for 2% Agency Fees
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