Can I sell my property in Dubai even if it’s still in mortgage?

Yes, it is possible to sell a property in Dubai even if it is still under a mortgage. However, there are certain considerations and steps involved in the process -


Inform the Bank

The first step is to inform the bank or financial institution that holds the mortgage on the property. They need to be aware that you intend to sell the property and will provide guidance on the necessary procedures.


Obtain a No Objection Certificate (NOC)

The bank will issue a No Objection Certificate (NOC) stating that they have no objection to the sale of the property. This certificate is required by the Dubai Land Department during the transfer process.


Valuation and Sale Price

Determine the market value of your property and set a sale price accordingly. It is important to consider the outstanding mortgage amount when determining the final sale price.


Find a Buyer

Advertise your property for sale and find a potential buyer. You can engage a real estate agent or list your property on various online platforms and classifieds to attract potential buyers.


Sales Agreement and Transfer

Once you have a buyer, you will need to draft a sales agreement that outlines the terms and conditions of the sale. The buyer will typically pay a deposit, and both parties will sign the agreement. The buyer will also need to obtain mortgage approval from their bank.


Property Transfer

The property transfer process involves submitting the necessary documents to the Dubai Land Department. This includes the sales agreement, NOC from the bank, and other required documents. The Land Department will facilitate the transfer of ownership from you to the buyer.


Mortgage Settlement

At the time of the property transfer, the outstanding mortgage amount will be settled using the sale proceeds. The bank will receive the remaining mortgage balance, and any surplus funds will be given to you as the seller.






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