Document background
The Pre Sale Agreement Property is a crucial document in UAE real estate transactions, particularly in major development hubs like Dubai and Abu Dhabi. It is used when selling property that is yet to be constructed or is under construction, commonly known as 'off-plan' sales. The agreement must comply with strict UAE regulatory requirements, including RERA regulations and Land Department guidelines. It typically includes detailed provisions for payment schedules through regulated escrow accounts, construction milestones, property specifications, and completion timelines. This document is essential for protecting both developer and purchaser interests, ensuring transparency in the transaction, and meeting local regulatory requirements for property registration and transfer. The agreement forms the foundation for the eventual transfer of property ownership upon completion and full payment.
