Put Our Experience to Work for You.
When you list your home with Source Properties agents, you will experience the very best service the real estate industry has to offer. Our agents are equipped with the knowledge, tools and support required to market your home for a quick, efficient sale.
If the property is cash:
The seller obtains No Objection Certificate (NOC) application — which is the developer’s consent that the property is free of debt, ties or liens and can be transferred.
All parties (buyer/seller/agent/conveyancer) meet at the developer’s office to apply for an NOC. The property also requires clearance for any outstanding service charges. The NOC will be issued to the name of the buyer, which then prepares the final transfer documentation. All parties (buyer, seller, agent or conveyancer) meet at a Trustee office Dubai Land Department (DLD) transfer center to issue the buyer a title deed with new ownership details.
If the property is mortgaged:
The seller obtains a liability letter from their bank (cash sellers will not need this step), valid for 15 days. Once the liability letter is received, the buyer’s bank pays off the seller’s mortgage. The seller may be required to sign some documents, as advised by the buyer’s bank or mortgage consultant. After mortgage settlement by the buyer’s bank, the seller’s bank issues clearance documentation, around 5 days after the loan has cleared. The buyer’s bank must settle the seller’s mortgage, prior to No Objection Certificate (NOC) application — which is the developer’s consent that the property is free of debt, ties or liens and can be transferred.
All parties (buyer/seller/agent/conveyancer) meet at the developer’s office to apply for an NOC. The property also requires clearance for any outstanding service charges. The NOC is submitted to the buyer’s bank, which then prepares the final transfer documentation. All parties (buyer, seller, buyer’s bank or mortgage consultant, agent or conveyancer) ) meet at a Trustee office Dubai Land Department (DLD) transfer center to issue the buyer or buyer’s bank a title deed with new ownership details.
**As of January 2018, fees are subject to 5% VAT.