The Real Estate Buyers Agreement Form is a crucial document used in the United Arab Emirates for property transactions between buyers and sellers. It is designed to comply with UAE federal laws and emirate-specific regulations governing real estate transactions. This agreement is essential for both residential and commercial property purchases, incorporating necessary provisions for property registration, payment terms, and transfer of ownership. The document must align with requirements set by local land departments and account for specific considerations such as foreign ownership restrictions in certain areas. It serves as the primary contract protecting both parties' interests and typically includes detailed property specifications, payment schedules, completion requirements, and warranties. The agreement is particularly important in the UAE market where property transactions must follow strict regulatory requirements and documentation standards.
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1. Parties: Identification of the Seller and Buyer with full legal names, Emirates ID numbers, and contact details
2. Background: Brief context of the transaction and confirmation that the Seller owns the property and has the right to sell
3. Definitions: Key terms used throughout the agreement including Property, Completion Date, Purchase Price, etc.
4. Property Details: Comprehensive description of the property including location, size, title deed number, and any inclusions/exclusions
5. Purchase Price: The agreed purchase price and currency
6. Payment Terms: Detailed breakdown of payment schedule, deposit requirements, and payment methods
7. Completion: Conditions for completion, timeline, and process for transfer of ownership
8. Seller's Obligations: Seller's commitments including providing clear title, necessary documentation, and property handover conditions
9. Buyer's Obligations: Buyer's commitments including payment obligations, due diligence responsibilities, and registration requirements
10. Warranties: Seller's warranties regarding property ownership, condition, and any encumbrances
11. Default and Termination: Consequences of default by either party and conditions for termination
12. Governing Law and Jurisdiction: Confirmation of UAE law application and jurisdiction for disputes
13. Notices: Process and requirements for formal communications between parties
14. Execution: Signature blocks and execution requirements
1. Mortgage Contingency: Include when buyer's purchase is contingent on obtaining mortgage financing
2. Property Inspection: Include when there's a condition precedent for property inspection
3. Furniture and Fittings: Include when the sale includes specific furniture or fittings
4. Service Charge Provisions: Include for properties in managed communities with service charges
5. Developer Approval: Include when developer's approval is required for the transfer
6. Foreign Ownership: Include specific provisions when the buyer is a non-UAE national
7. Power of Attorney: Include when either party is acting through an attorney
8. Tenancy Provisions: Include when the property is currently tenanted
1. Schedule 1 - Property Details: Detailed property specification, including floor plans and area calculation
2. Schedule 2 - Payment Schedule: Detailed breakdown of payment installments and due dates
3. Schedule 3 - Included Fixtures and Fittings: Inventory of items included in the sale
4. Schedule 4 - Form of Transfer/Title Deed: Template or requirements for the property transfer document
5. Appendix A - Property Documents: Copies of title deed, floor plan, and other relevant property documents
6. Appendix B - Due Diligence Documents: List of required documents for due diligence
7. Appendix C - Handover Protocol: Procedure and checklist for property handover
8. Appendix D - Required Registrations: List of necessary registrations and approvals required for transfer
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Banking & Finance
Construction
Property Development
Legal Services
Property Management
Investment & Asset Management
Property Insurance
Facilities Management
Urban Development
Relevant Teams
Legal
Real Estate
Compliance
Sales
Property Management
Contract Administration
Due Diligence
Risk Management
Investment
Business Development
Relevant Roles
Real Estate Agent
Property Lawyer
Legal Counsel
Property Manager
Sales Director
Compliance Officer
Real Estate Investment Manager
Property Developer
Contract Manager
Real Estate Transaction Specialist
Property Consultant
Mortgage Advisor
Due Diligence Officer
Real Estate Portfolio Manager
Legal Director
Property Sales Executive
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