Selling an off-plan property in Dubai
You can sell an off-plan property before handover by assigning the rights to a new buyer. We guide you through the developer’s consent, the transfer and all the formalities.
Selling off-plan, known as an assignment, is the transfer of the rights to a property under construction to a new buyer, before handover. You are not selling a finished property, but the contract with the developer and what you have already paid into it. It follows its own rules, which we explain here.
- What you sell
- the rights under the developer contract (assignment)
- Precondition
- a minimum payment threshold, set by the developer
- Developer consent
- required (NOC for the assignment)
- Registration
- transfer at Oqood / DLD level
- Assignment fee
- set by the developer
When you can sell off-plan at all
Not every property under construction can be sold at any moment. First you have to check whether the developer allows it at all, and on what terms.
The level of payments made so far is usually key, because many developers require a minimum threshold to be reached before they agree to an assignment.
- Most developers require a minimum threshold of the price to be paid before they agree to an assignment.
- The threshold and the rules differ between developers and projects, so we check them at source.
- The transfer requires the developer’s consent in the form of a NOC for the assignment.
Before you start looking for a buyer, it is worth confirming these terms at source. Give us the project and the level of payments and we will check whether an assignment is already possible.
How an assignment works
An assignment runs in a set order, and it helps to know it from the start. This way you know what happens at each stage and what it requires of you.
Below is the whole process, from checking the terms to transferring the rights to a new buyer.
- Checking the terms of the assignment with the developer and the level of payments made so far.
- Setting the price and finding a buyer ready to take on the contract and the remaining instalments.
- Obtaining the NOC for the assignment from the developer.
- Settlement: the buyer repays the part you have paid and takes on the future payments.
- Transferring the rights at Oqood or DLD level and updating the contract with the developer.
We guide you through each of these steps in person, with no guesswork. Let us check it together and set up the assignment so it runs smoothly.
Who buys off-plan units second-hand
A second-hand off-plan unit is bought by a narrower, but very specific, group than a finished property. It is worth knowing who these buyers are, because it shapes how we run the sale.
They are usually people who want to enter a popular project on better terms than the developer’s current price list.
- Buyers who missed the original launch but want to enter a popular project.
- People looking for a better entry than the developer’s current price list.
- Buyers who are suited by the part already paid and the payment schedule in place.
Reaching these people is our job, because what counts is a buyer who can carry the remaining instalments. Let us know and we will run the sale to exactly such a buyer.
Frequently asked questions.
Can I sell an off-plan property before handover?
Usually yes, in the form of an assignment, provided the developer allows it and you have paid the minimum threshold of the price. The threshold and the rules differ between developers, so we check them at source.
What is an assignment of a property in Dubai?
It is the transfer of the rights under the developer contract to a new buyer before handover. You sell not a finished property, but the contract and the part paid so far, and the buyer takes on the remaining instalments.
Is the developer’s consent needed?
Yes. For an assignment the developer issues a NOC, and the transfer is registered at Oqood or DLD level. The developer usually also charges an assignment fee.
How much does it cost to sell off-plan as an assignment?
There is an assignment fee set by the developer and the agent’s commission. The exact sums depend on the project, so we set them out before the sale begins.
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Want to exit off-plan before handover? Let us check the terms and run the assignment.
We start with your developer’s rules and the level of payments. We take the rest off your hands.