This Expedites Transactions For Overseas Property Sellers.
Are you a Dubai property owner based in abroad and would like to complete a potential sale quickly? You can do this right now by simply giving a registered broker Power of Attorney (PoA) rights and taking care of what needs to do.
Such PoA rights have become valid as the demand for ready homes in Dubai. Particularly those that the new homebuyer can move into as soon as possible, continues to rise. In these 20 months, the majority of the ready units that listed have all been sold. Giving sellers who are holding such homes and are willing to sell themselves an advantage. Even if they are located abroad…
These investors want to lower their risk of missing a potential instant deal at a clear premium by issuing PoAs. However, it is only recently that estate agents guarantee the ability. To act on behalf of property owners who are not living in the UAE. In the past, brokers were not permitted to have a POA from sellers, according to Hammad Manzoor, Managing Director of Upscale Real Estate in Dubai.
In terms of momentum, Manzoor is spot-on. Month-over-month sales actually increased during the summer. Moreover, the publication of October’s numbers confirms that demand levels are continuing to rise. Since the summer, Dubai has been setting new 10-year records every month.
The Dubai Land Department has done its part to make buying and selling properties in the emirate easier with digital procedures. Since foreign buyers and sellers are involved in the majority of transactions. It helps. Particularly in the luxury segment of the market. Where it is likely that both the buyer and the seller handle all of the necessary paperwork on their behalf while working remotely and through real estate agents.
According to the city’s goals, brokers can now provide a seamless experience to their clients, according to Mohammad Imran Khan, Director at Atomic Properties. We have noticed a surge in activity, sometimes in the off-plan segment. As Power of Attorney can now granted remotely and even online.