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Real Estate Contract Buyers
"I need a Real Estate Contract Buyers agreement for purchasing a 2-bedroom apartment in Dubai Marina, UAE, with completion scheduled for March 2025, including standard payment terms and transfer procedures."
1. Parties: Identification of the Seller and Buyer with full legal names, Emirates ID numbers, and contact details as required by UAE law
2. Background: Context of the transaction including property overview and intention of the parties
3. Definitions: Key terms used throughout the agreement including Property, Completion Date, Purchase Price, and other relevant definitions
4. Sale and Purchase: Core transaction terms including the agreement to sell and purchase the property
5. Purchase Price: Detailed breakdown of the purchase price, payment schedule, and method of payment in compliance with UAE regulations
6. Deposit: Terms regarding the initial deposit, its payment, and circumstances for refund or forfeiture
7. Conditions Precedent: Prerequisites that must be satisfied before completion, including No Objection Certificates and regulatory approvals
8. Seller's Obligations: Responsibilities of the seller including providing necessary documentation and maintaining the property
9. Buyer's Obligations: Responsibilities of the buyer including payment obligations and obtaining necessary approvals
10. Completion: Process and requirements for completion of the sale, including registration with relevant authorities
11. Title and Registration: Provisions regarding transfer of title and registration requirements with the Land Department
12. Warranties and Representations: Standard warranties from both parties regarding their capacity and the property's status
13. Default and Termination: Consequences of breach and circumstances allowing termination
14. Notices: Process for formal communications between parties
15. Governing Law and Jurisdiction: Confirmation of UAE law application and jurisdiction of UAE courts
1. Mortgage Provisions: Required when the purchase is financed through a mortgage, including bank requirements and approvals
2. Off-Plan Provisions: Necessary for properties purchased before completion, including construction milestones and developer obligations
3. Handover Provisions: Detailed procedures for property handover, particularly relevant for new properties
4. Defect Liability: Particularly important for new properties, detailing the developer's obligations regarding defects
5. Service Charge Provisions: Required for properties in managed communities or buildings
6. Tenant Provisions: Required when the property is sold with existing tenants
7. Furniture and Fittings: Required when the sale includes furniture or specific fittings
8. Property Management: Required for properties requiring specific management arrangements post-sale
1. Property Details: Detailed description of the property including title deed number, plot number, and area details
2. Payment Schedule: Detailed breakdown of payment installments and due dates
3. Property Plans: Official floor plans and location maps as registered with the Land Department
4. Inventory List: If applicable, list of included furniture, fixtures, and fittings
5. Required Documents: List of documents required for completion from both parties
6. Form of Transfer: Standard transfer forms required by the Land Department
7. Due Diligence Documents: Copies of title deed, service charge statements, and other relevant documentation
8. Handover Protocol: Detailed checklist and procedure for property handover
Authors
Business Day
Buyer
Completion
Completion Date
Deposit
Developer
Dubai Land Department
Emirates ID
Encumbrance
Escrow Account
Handover Date
Land Department
Maintenance Charges
Municipality
No Objection Certificate
Parties
Payment Schedule
Property
Purchase Price
Real Estate Register
Registration Fee
Seller
Service Charges
Title Deed
Transfer Date
Unit
Warranties
Purchase Price
Payment Terms
Deposit
Conditions Precedent
Due Diligence
Property Title
Registration
Warranties and Representations
Seller Obligations
Buyer Obligations
Completion
Handover
Default
Termination
Force Majeure
Notices
Assignment
Confidentiality
Dispute Resolution
Governing Law
Entire Agreement
Severability
Property Condition
Insurance
Service Charges
Documentation
Indemnification
Amendment
Survival
Real Estate
Construction
Banking & Finance
Legal Services
Property Development
Property Management
Investment
Insurance
Consulting
Property Technology
Legal
Real Estate
Compliance
Property Management
Operations
Acquisitions
Due Diligence
Contract Administration
Risk Management
Investment
Real Estate Lawyer
Property Manager
Real Estate Agent
Legal Counsel
Compliance Officer
Real Estate Investment Manager
Property Developer
Contract Manager
Real Estate Transaction Specialist
Acquisitions Manager
Legal Director
Real Estate Portfolio Manager
Property Consultant
Due Diligence Specialist
Real Estate Operations Manager
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