Special power of attorney for sale of property is a legal document that gives the attorney the right to represent the owner of a property, who is the principal, in the sale of this property. This type of power of attorney is carried out by the POA&More team with great professionalism due to the experience they have, and the service can be requested online at competitive prices.
Special Power of Attorney for Sale of Property
A special power of attorney for sale of property in the UAE is a legal document that gives another person (an attorney) the right to represent you in the sale of your property. This means that the attorney can carry out all the legal procedures necessary to complete the sale on your behalf, such as signing contracts and official documents. Why do you need a special power of attorney for sale of property:
- Your absence: If you are traveling or unable to attend in person to complete the sale.
- Speed of completion: An attorney can complete the procedures faster than you, especially in a fast-moving real estate market.
- Experience: If you do not have sufficient experience in real estate transactions, an attorney can provide you with the necessary advice.
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Importance of Power of Attorney in Real Estate Transactions
A special power of attorney for sale of property in the UAE is a legal document that gives another person, the attorney, the right to act on your behalf in specific real estate matters. This document plays a crucial role in facilitating many real estate transactions, especially in light of the active and diverse nature of the real estate market in the UAE. So why is a special power of attorney for sale of property important:
Geographical presence:
Foreign investors: Many real estate investors in the UAE are not permanent residents. The power of attorney allows them to manage their real estate investments without the need to be physically present in the country.
Busy residents:
Even residents in the UAE may be busy with their work or personal lives, making it difficult for them to follow up on all real estate procedures.
Speed of completing transactions:
Save time and effort: The attorney can complete many routine procedures on your behalf, saving you a lot of time and effort.
Specialization:
Legal expertise: Some people may need the help of legal experts in dealing with some complex real estate procedures. An attorney with legal expertise can provide this assistance.
Flexibility:
Emergency Action: In some cases, you may need to make urgent real estate decisions, and having an attorney who can act on your behalf in these situations gives you greater flexibility.
Read more: Fast POA Attestation in Dubai
Legal Requirements for special power of attorney for sale of property
To issue a special power of attorney for sale of property in the UAE, you must meet several legal requirements and administrative procedures. Here are the most important of these requirements:
- Identity: The principal (property owner) and the attorney (person authorized to sell) must have valid IDs, whether passports or residence cards.
- Property ownership document: An original copy of the property title deed must be submitted, proving the principal’s ownership of the property to be sold.
- Accurate description of the property: The property must be accurately described in the power of attorney document, including its location, area, and type (residential, commercial, etc.).
- Powers of the attorney: The powers in the special power of attorney for sale of property that the principal grants to the attorney must be clearly specified in the document, which usually includes the right to negotiate the sale price, sign sales contracts, and receive the price.
- Power of attorney duration: The power of attorney can be specified for a specific period of time, or left open until it is cancelled by the principal.
Power of Attorney for Property Buying and Selling
What is a special power of attorney for sale of property? A special power of attorney is a legal document that allows a specific person (the attorney) to conduct a specific transaction on behalf of another person (the principal). In the context of real estate, a special power of attorney allows an attorney to buy or sell real estate on behalf of the principal, without the need for the principal to be physically present at each transaction.
Why do you need a special power of attorney for sale of property?
- Lack of geographical presence: If you live outside the UAE or cannot be physically present to complete the transaction.
- Busy business: You may have a busy schedule that prevents you from following up on the buying and selling procedures.
- Quick access to opportunities: You may want to seize available real estate opportunities quickly without delay.
- Experience: You may want to seek the expertise of a real estate attorney experienced in the UAE market.
Types of special power of attorney for sale of property
- Purchase power of attorney: Gives the attorney the authority to buy a specific property or a specific type of property.
- Sale power of attorney: Gives the attorney the authority to sell a specific property.
- Purchase and sale power of attorney: Combines the previous powers and gives the attorney the authority to buy and sell.
Procedures for issuing special power of attorney for sale of property
- Selecting an attorney: Choose someone you trust and who has experience in the field of real estate, if possible.
- Document drafting: The document must be clear and specific, and include details of the properties to be sold or purchased, and the powers granted to the attorney.
- Notarization: The power of attorney must be authenticated before a notary public or the competent authority in the Emirates.
- Translation (if necessary): If the document is in a language other than Arabic, it must be translated and the translation certified.
Read more: Special Power of Attorney Form Dubai
Risks and Precautions with special power of attorney for sale of property
In the following lines, we explain in detail a guide on the risks and precautions related to the special power of attorney for the sale of real estate in the Emirates:
Potential risks of the power of attorney:
- Misuse: The attorney may exploit his trust in you and sell the property at a price lower than its market value or transfer the money to his personal account.
- Forgery and manipulation: The attorney may forge your signature on documents or manipulate information.
- Legal disputes: Legal disputes may arise between you and the attorney over the terms of the special power of attorney for the sale of property or how to implement it.
Precautions to be taken:
- Choose someone you trust completely and who has good knowledge of real estate matters.
- Check his reputation and financial background.
- Ask him to provide recommendations from other people who have dealt with him.
- The power of attorney must be clear, accurate, and fully define the attorney’s powers.
- The power of attorney must state the property to be sold and the minimum acceptable price.
- The power of attorney must specify the period of its validity.
- The special power of attorney for the sale of property must be registered in the real estate registry in order to be legally binding.
- Even if you have appointed an attorney, you must follow up on the sale process periodically and make sure that everything is going well.
- Ask the attorney to provide periodic reports on the progress of the sale.
- Before signing any documents, you should consult POA&More because they specialize in real estate matters to ensure your rights and protect your interests.
Read more: Special power of attorney to process documents
How to get a special power of attorney in the UAE with POA&MORE?
In the following lines, we highlight the advantages of obtaining special power of attorney for sale of property through POA&More:
- Access to a wide database of properties: POA&More usually has a comprehensive and comprehensive database of properties available for sale in the Emirates, giving you direct access to a variety of options that suit your clients’ needs.
- Integrated marketing support: The company usually provides a set of integrated marketing services to enhance the sales of the properties it sells.
- Experience and knowledge of the UAE real estate market: POA&More has extensive experience in the UAE real estate market, which enables it to provide you with the necessary advice on appropriate prices, legal procedures, and best practices in the field of real estate sales.
- Extensive network of clients: Through its continuous work in this field, POA&More has built a wide network of clients interested in buying real estate in the Emirates, which increases the chances of finding buyers for your properties quickly.
- Legal and administrative support: The company usually provides the legal and administrative support necessary to complete the sale process successfully, including preparing contracts and ensuring that they comply with the laws and regulations in force in the Emirates.
- Reputation: If POA&More has a good reputation in the market, it will enhance your credibility as a real estate attorney, and attract more clients.