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Residential Sale Agreement
"I need a Residential Sale Agreement for a property in Dubai, UAE, for a luxury apartment purchase from a developer, with completion scheduled for March 2025 and including provisions for staged payments and defect liability period."
1. Parties: Identification of the Seller and Buyer with full legal names, Emirates ID numbers, and contact details
2. Background: Context of the sale, brief property description, and confirmation of Seller's right to sell
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Details: Comprehensive description of the property including address, size, registration details, and any included fixtures/fittings
5. Purchase Price: Total purchase price, payment schedule, and method of payment
6. Payment Terms: Detailed breakdown of payment installments, deposit requirements, and completion payment
7. Completion: Conditions for completion, timing, and process for transfer of ownership
8. Seller's Obligations: Seller's commitments including providing clear title, necessary documentation, and property condition warranties
9. Buyer's Obligations: Buyer's commitments including payment, due diligence, and registration requirements
10. Property Registration: Process and requirements for registering the property transfer with relevant authorities
11. Warranties and Representations: Warranties from both parties regarding their capacity to enter agreement and property condition
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 for disputes
14. Notices: Process for formal communications between parties
15. General Provisions: Standard contractual provisions including entire agreement, amendments, and severability
1. Mortgage Contingency: Include when buyer's purchase is contingent on obtaining mortgage financing
2. Property Inspection: Include when sale is contingent on satisfactory property inspection
3. Vacant Possession: Include when property is currently occupied and timing of vacancy needs to be specified
4. Service Charges: Include for properties in managed communities with service charges
5. Parking Allocation: Include when parking spaces are part of the sale in apartment buildings
6. Handover Process: Include detailed handover procedures for new properties
7. Defect Liability: Include for new properties to specify developer's liability period
8. Foreign Ownership: Include specific provisions when buyer is a foreign national
1. Property Floor Plan: Detailed floor plan and area calculation of the property
2. Title Deed Copy: Copy of current title deed showing ownership and any encumbrances
3. Payment Schedule: Detailed breakdown of payment installments and due dates
4. Inventory List: List of fixtures, fittings, and items included in the sale
5. Property Photographs: Current photographs documenting property condition
6. Service Charge Statement: Current statement of service charges and payment status
7. Required Documents List: List of documents required for property transfer
8. Regulatory Permits: Copies of relevant permits and certificates
Authors
Real Estate
Construction
Banking & Finance
Legal Services
Property Development
Property Management
Insurance
Interior Design
Architecture
Facilities Management
Legal
Real Estate
Sales
Compliance
Property Management
Customer Relations
Documentation
Finance
Operations
Risk Management
Real Estate Agent
Property Lawyer
Legal Counsel
Property Developer
Sales Manager
Mortgage Advisor
Property Consultant
Compliance Officer
Real Estate Manager
Title Officer
Contract Administrator
Real Estate Director
Property Valuer
Transaction Coordinator
Customer Service Manager
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