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Simple Real Estate Sales Agreement
"I need a Simple Real Estate Sales Agreement for a 2-bedroom apartment in Dubai Marina, with completion scheduled for March 2025, including provisions for a 10% deposit and mortgage financing arrangements."
1. Parties: Full legal names and details of the seller and purchaser, including Emirates ID/passport numbers for individuals or trade license details for companies
2. Background: Context of the transaction and brief description of the property being sold
3. Definitions: Key terms used throughout the agreement, including defined terms specific to UAE real estate transactions
4. Property Details: Comprehensive description of the property including title deed number, property size, location, and any registered easements or encumbrances
5. Purchase Price: The agreed purchase price, payment schedule, and method of payment in accordance with UAE regulations
6. Payment Terms: Detailed breakdown of payment installments, deposit requirements, and completion payment arrangements
7. Completion: Conditions for completion, timing, and process for transfer of ownership at the relevant Land Department
8. Seller's Obligations: Responsibilities of the seller including providing necessary documentation and ensuring clean title
9. Purchaser's Obligations: Responsibilities of the purchaser including payment obligations and obtaining necessary approvals
10. Warranties: Standard warranties from both parties regarding capacity to enter into the agreement and property condition
11. Registration: Process and requirements for registering the sale with relevant authorities
12. Governing Law and Jurisdiction: Specification of UAE law as governing law and relevant emirate's courts' jurisdiction
1. Condition of Property: Detailed description of property condition and any agreed repairs - used when selling existing properties
2. Mortgage: Terms relating to existing or new mortgage arrangements - included when property is or will be mortgaged
3. Property Management: Arrangements for property management during transition - relevant for income-producing properties
4. Tenancy: Details of existing tenancy if property is sold with sitting tenants
5. Foreign Ownership: Additional provisions required for foreign buyers - included when purchaser is not a UAE/GCC national
6. Service Charge: Provisions regarding outstanding and future service charges - relevant for properties in managed developments
7. Broker Provisions: Terms relating to real estate brokers' involvement and commission - included when brokers are involved
1. Property Schedule: Detailed technical description of the property including floor plans and specifications
2. Title Documents: Copies of title deed and other ownership documents
3. Payment Schedule: Detailed breakdown of payment installments and due dates
4. Property Condition Report: Detailed report on property condition with photographs
5. Existing Tenancy Documents: Copies of current tenancy contracts and related documents if applicable
6. Service Charge Statement: Statement of current and outstanding service charges
7. Required Permits: Copies of relevant permits and certificates required for the sale
Authors
Real Estate
Construction
Banking & Finance
Legal Services
Property Development
Property Management
Investment & Asset Management
Hospitality
Retail
Commercial Property
Residential Property
Legal
Real Estate
Compliance
Sales
Business Development
Property Management
Asset Management
Investment
Contract Administration
Risk Management
Real Estate Agent
Property Manager
Legal Counsel
Compliance Officer
Real Estate Director
Investment Manager
Property Developer
Sales Manager
Contract Administrator
Real Estate Transaction Coordinator
Business Development Manager
Asset Manager
Property Consultant
Real Estate Portfolio Manager
Chief Investment Officer
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