With a booming real estate market, the property-buying processes are quite streamlined in Dubai. Thanks to the Dubai Land Department (DLD), the property sector is governed by a set of strict regulations in place. The authority continuously improves its services to provide the best customer experience. One recent digital addition is DLD’s smart evaluation instant sale feature.
This feature has transformed real estate transactions, increasing efficiency and reducing time. With the instant sales feature, users can evaluate property values in seconds. Scroll down to learn more about its usage and benefits.
- DLD’s Smart Evaluation Instant Sale Feature
- How the Feature Works
- How to Use the Feature
- Benefits of the Feature
- FAQs
DLD’s Smart Evaluation Instant Sale Feature
The Dubai Land Department (DLD) is continuously streamlining real estate transactions with its innovative features and services. It is to attract more people to invest in Dubai’s real estate. One recent addition by DLD in 2023 is the ‘Smart Evaluation Instant Sale Feature’.
DLD initiated this feature as part of the Dubai Economic Agenda D33. As an Artificial Intelligence (AI) powered initiative, it uses AI to determine a property’s value.
It eliminates the need for time-consuming physical audits. This feature has been revolutionising property buying and selling in the emirate.
With it, users can evaluate the value of apartments or villas in freehold areas of Dubai and then instantly sell their properties. However, it only works for residential properties and does not apply to commercial transactions. Here is who can benefit from this feature:
- Sellers: Sellers can easily evaluate their property value without paying extra money to consultants or property inspectors.
- Buyers: Buyers can know the fair market value based on real-time data.
- Investors: Investors can know about the market value that helps them buy or sell the property for profit.
- Real estate agents and brokers: Similar to sellers, real estate agents can instantly evaluate property values for their clients.
How the Feature Works
Here is how the DLD’s smart evaluation instant sale feature works:
- Buyers and sellers meet at the real estate trustee’s office.
- Users fill out the property details such as location, size, and type on the DLD platform.
- The system compares property details with similar units and historical transactions.
- DLD generates a report within fifteen seconds highlighting a property’s estimated value.
- If the buyer and seller accept the property’s sale price, they can proceed with the instant sale option.
- DLD issues title deeds within minutes along with other necessary legal documents.
- Both parties can sign the digital agreement and complete the real estate transaction.
How to Use the Feature
Using this feature is convenient with a cost-effective online service available. Here is how to evaluate a property value using the DlD’s smart evaluation instant sale feature:
- Go to DLD’s official website or download the Dubai REST application.
- Log in or sign up using Emirates ID or registered username and password.
- Access the smart evaluation instant sale feature.
- Fill out the property details such as size and location.
- Wait for AI processing and comparison with similar properties.
- View the estimated property value and decide to complete or discard the sales transaction.
Benefits of the Feature
Now what distinguishes the instant sale feature from the traditional sales evaluation? Let’s go through the benefits of this feature:
- Instant sale helps quickly evaluate property value by entering property details. AI processing saves time and buyers can easily sell their properties. A traditional evaluation, in comparison, requires property audits which can take much time.
- An instant sale feature requires all parties to be present at the trustee’s office. The property price is also evaluated based on real-world values which makes it a more authentic approach.
- Although the instant sale feature is not free, it is much more affordable than the traditional property valuation.
FAQs
The DLD’s smart evaluation instant sale feature works only for residential properties, specifically those in freehold areas.
No, the instant sale feature has some associated charges. These charges vary by property size and location.
Using a smart evaluation instant sale feature is quite simple. Log in to the official website of DLD or Dubai REST app, enter property details, and wait for AI smart valuation.
The DLD’s smart evaluation instant sale feature can help identify property value before tenancy contracts or Ejari registration in Dubai.
That was all about DLD’s smart evaluation instant sale feature. Use the service to evaluate properties within seconds and benefit from this digital revolution. Before listing your property for sale, increase your property value in Dubai with minor tweaks such as home maintenance.
Additionally, follow our guide to property selling in Dubai, outlining effective marketing and pricing.
Stay tuned to the Property Finder blog for more property-selling tips.
