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Agreement For Flat Sale
I need an Agreement For Flat Sale for a two-bedroom apartment in Dubai Marina, with installment payments over 6 months and including provisions for the existing tenant to remain until March 2025.
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 sale, including brief property description and seller's ownership status
3. Definitions: Definitions of key terms used throughout the agreement, including 'Property', 'Completion Date', 'Purchase Price', etc.
4. Sale and Purchase: Core agreement to sell and purchase the property, including the basic terms of the transaction
5. Purchase Price: Detailed breakdown of the purchase price and payment schedule, including any deposits
6. Payment Terms: Specific payment mechanisms, timelines, and conditions for payment
7. Completion: Requirements and process for completion of the sale, including documentation and registration requirements
8. Seller's Obligations: Detailed list of seller's commitments and warranties regarding the property
9. Buyer's Obligations: Detailed list of buyer's commitments and obligations regarding the purchase
10. Property Condition: Description of the property's condition and any warranties or disclaimers
11. Title and Registration: Provisions regarding clean title and the registration process at the relevant land department
12. Default and Termination: Consequences of default by either party and termination provisions
13. Notices: Process and requirements for formal communications between parties
14. Governing Law and Jurisdiction: Specification of UAE law as governing law and relevant courts' jurisdiction
15. Execution: Signature blocks and execution requirements
1. Mortgage Provisions: Include when the buyer is obtaining mortgage financing, detailing requirements and conditions
2. Service Charges: Include for properties in managed communities or buildings, detailing service charge obligations
3. Handover Procedures: Include for new properties or those requiring specific handover arrangements
4. Defect Liability: Include for new properties to specify defect liability period and remediation process
5. Furniture and Fixtures: Include when the sale includes specific furniture or fixtures
6. Power of Attorney: Include when either party is acting through an attorney
7. Foreign Ownership: Include when the buyer is a foreign national, addressing specific requirements
8. Escrow Arrangements: Include for off-plan properties or when using escrow services
9. Tenancy Provisions: Include when the property is currently tenanted
1. Property Description Schedule: Detailed description of the property including unit number, floor, building, area, and boundaries
2. Payment Schedule: Detailed breakdown of payment installments and due dates
3. Title Documents: Copies of title deed and other ownership documents
4. Property Plans: Floor plans and location maps of the property
5. Inventory List: List of included fixtures, fittings, and furniture (if applicable)
6. Building Rules and Regulations: Copy of applicable building or community rules
7. Service Charge Schedule: Details of service charges and payment requirements
8. Handover Protocol: Detailed procedure for property inspection and handover
9. Required Documents List: List of documents required from each party for completion
Authors
Real Estate
Property Development
Construction
Banking & Finance
Legal Services
Property Management
Insurance
Investment
Residential Property
Commercial Property
Legal
Real Estate
Sales
Compliance
Property Management
Business Development
Operations
Finance
Risk Management
Document Control
Real Estate Agent
Property Developer
Legal Counsel
Property Manager
Sales Manager
Mortgage Advisor
Compliance Officer
Real Estate Director
Property Consultant
Contract Manager
Transaction Coordinator
Real Estate Partner
Property Lawyer
Business Development Manager
Investment Manager
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