The Real Estate Purchase Offer is a crucial document in UAE property transactions that initiates the formal process of property acquisition. It serves as the preliminary agreement between buyer and seller, setting out the essential terms of the proposed transaction. This document must be drafted in compliance with UAE federal laws and emirate-specific regulations, particularly considering requirements set by authorities such as RERA in Dubai or municipal authorities in other emirates. It is typically used when a potential buyer has identified a property of interest and wishes to formalize their intention to purchase, whether for residential, commercial, or investment purposes. The document includes critical information such as property specifications, price, payment terms, conditions precedent, and completion requirements, while accounting for UAE-specific considerations such as property registration procedures, ownership restrictions for foreign buyers, and escrow requirements.
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1. Parties: Identification of the Purchaser and Seller with full legal names, addresses, and Emirates ID/passport numbers as required by UAE law
2. Background: Brief context of the transaction and property overview
3. Definitions: Key terms used throughout the offer document
4. Property Details: Comprehensive description of the property including unit number, building name, land details, and RERA registration details
5. Purchase Price: Total purchase price in AED and payment terms including deposit requirements
6. Payment Terms: Detailed breakdown of payment schedule, method of payment, and escrow requirements if applicable
7. Due Diligence Period: Timeline and conditions for property inspection and document verification
8. Conditions Precedent: Essential conditions that must be met before proceeding with the purchase
9. Completion Requirements: Steps required for transaction completion including registration requirements
10. Seller's Warranties: Warranties regarding property ownership, encumbrances, and compliance with laws
11. Purchaser's Warranties: Warranties regarding financial capability and compliance with UAE property ownership laws
12. Default and Termination: Consequences of default by either party and termination provisions
13. Governing Law and Jurisdiction: Confirmation of UAE law application and jurisdiction
1. Mortgage Clause: Required if purchaser intends to obtain mortgage financing
2. Foreign Ownership: Required for non-UAE/GCC nationals, addressing specific ownership restrictions
3. Off-Plan Provisions: Required for off-plan properties, including construction milestones and developer obligations
4. Furniture and Fixtures: Required if the offer includes specific furniture or fixtures
5. Property Management: Required for properties within managed communities
6. Service Charges: Required for properties with ongoing service charges or maintenance fees
7. Tenancy Status: Required if property is currently tenanted
8. Agent Provisions: Required if real estate agents are involved in the transaction
1. Schedule 1 - Property Details: Detailed property specification, floor plans, and area statement
2. Schedule 2 - Payment Schedule: Detailed breakdown of payment installments and due dates
3. Schedule 3 - Property Documents: List of title documents, certificates, and permits
4. Schedule 4 - Fixtures and Fittings: Inventory of included and excluded items
5. Schedule 5 - Form of Transfer: Template for property transfer documentation
6. Appendix A - Property Photos: Current photographs of the property
7. Appendix B - RERA Approvals: Copies of relevant RERA certificates and approvals
Relevant legal definitions
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Relevant Industries
Real Estate
Construction
Property Development
Banking & Finance
Legal Services
Investment & Asset Management
Property Management
Hospitality
Retail
Commercial Property
Relevant Teams
Legal
Real Estate
Compliance
Sales
Business Development
Finance
Investment
Property Management
Contracts Administration
Risk Management
Relevant Roles
Real Estate Agent
Property Manager
Legal Counsel
Compliance Officer
Real Estate Director
Investment Manager
Property Developer
Sales Manager
Business Development Manager
Contract Manager
Real Estate Broker
Financial Advisor
Mortgage Specialist
Property Valuation Expert
Transaction Manager
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