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House Purchase Contract
"I need a House Purchase Contract for a furnished villa in Dubai Marina, with completion scheduled for March 2025, including provisions for a foreign buyer requiring mortgage financing and developer approval for the transfer."
1. Parties: Detailed identification of the seller and buyer, including Emirates ID numbers, passport details, and contact information
2. Background: Recitals establishing the seller's ownership, property status, and intention to sell
3. Definitions: Key terms used throughout the agreement, including Property, Completion Date, Purchase Price, and other relevant definitions
4. Property Details: Comprehensive description of the property including location, size, title deed number, and registered details with the Land Department
5. Purchase Price: Agreed purchase price, payment schedule, and method of payment
6. Payment Terms: Detailed breakdown of payment installments, deposit requirements, and final payment conditions
7. Completion Requirements: Conditions to be met before completion, including documentation and regulatory requirements
8. Transfer of Ownership: Process and requirements for transferring ownership at the relevant Land Department
9. Seller's Warranties: Warranties regarding property ownership, absence of encumbrances, and compliance with laws
10. Buyer's Obligations: Requirements for the buyer including payment obligations and documentation requirements
11. Registration and Fees: Responsibility for registration fees, transfer fees, and other associated costs
12. Default and Termination: Consequences of default by either party and termination provisions
13. Governing Law and Jurisdiction: Specification of UAE law as governing law and relevant emirate courts' jurisdiction
1. Mortgage Contingency: Required when buyer's purchase is contingent on obtaining mortgage financing
2. Property Inspection: Details of property inspection rights and procedures, if agreed between parties
3. Furniture and Fixtures: List of included/excluded items when property is sold furnished
4. Foreign Ownership Declaration: Required for foreign buyers, confirming eligibility to own property in the specified area
5. Service Charge Provisions: Required for properties in managed communities, detailing service charge obligations
6. Tenant Rights: Required if property is currently tenanted, addressing existing tenancy rights
7. Developer Approval: Required for properties in master communities requiring developer approval for transfer
8. Power of Attorney: Optional section when either party is acting through an authorized representative
1. Schedule 1 - Property Specification: Detailed description of the property including floor plans, area calculations, and boundaries
2. Schedule 2 - Payment Schedule: Detailed breakdown of payment installments and due dates
3. Schedule 3 - Title Documents: Copies of title deed and other ownership documents
4. Schedule 4 - Property Condition Report: Current condition of the property and any agreed repairs or modifications
5. Schedule 5 - Included Fixtures and Fittings: List of items included in the sale
6. Appendix A - Required Documentation: List of documents required from both parties for completion
7. Appendix B - Land Department Requirements: Specific requirements from the relevant Land Department for transfer
8. Appendix C - Service Charge Statement: Current status of service charges and any outstanding amounts
Authors
Real Estate
Legal Services
Banking and Finance
Property Development
Construction
Insurance
Property Management
Investment and Asset Management
Legal
Real Estate
Compliance
Property Management
Sales
Documentation
Investment
Risk Management
Client Relations
Operations
Real Estate Lawyer
Property Manager
Real Estate Agent
Mortgage Advisor
Legal Counsel
Compliance Officer
Property Developer
Investment Manager
Real Estate Investment Advisor
Contract Manager
Document Controller
Property Consultant
Due Diligence Officer
Transaction Manager
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