The Offer To Purchase Form is a crucial document in UAE real estate transactions, serving as the initial formal step in property acquisition. This document is used when a potential buyer wishes to make a formal offer to purchase real estate in the UAE, whether residential or commercial. It must comply with both federal UAE laws and specific emirate-level regulations governing property transactions. The form typically includes detailed information about the property, proposed purchase price, payment terms, conditions precedent, and completion requirements. It is designed to protect both parties' interests while ensuring compliance with local property registration requirements and RERA regulations. The document is particularly important in the UAE market where property transactions must follow strict regulatory guidelines and documentation requirements.
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1. Parties: Identification of the buyer and seller with full legal names, Emirates ID/passport numbers, and contact details
2. Background: Brief context of the transaction and confirmation of seller's ownership rights
3. Definitions: Key terms used throughout the document including Property, Purchase Price, Deposit, Completion Date
4. Property Details: Complete description of the property including address, size, type, and registration details
5. Purchase Price: Statement of the total purchase price and payment terms
6. Payment Terms: Detailed breakdown of payment schedule including deposit and completion payment
7. Conditions Precedent: Essential conditions that must be met before the sale can proceed
8. Completion Requirements: Steps required for completion and transfer of ownership
9. Representations and Warranties: Standard declarations by both parties regarding their capacity and the property's status
10. Default Provisions: Consequences of default by either party
11. Governing Law and Jurisdiction: Confirmation of UAE law application and relevant emirate's courts' jurisdiction
1. Mortgage Contingency: Required if the purchase is contingent on the buyer obtaining mortgage financing
2. Property Inspection: Include when the offer is subject to satisfactory property inspection
3. Vacant Possession: Necessary when the property is currently occupied and timing of vacancy needs to be specified
4. Service Charge Provisions: Required for properties in managed communities or buildings
5. Furniture and Fixtures: Include when specific items are included in the sale
6. Developer Approval: Required for properties where developer consent is needed for transfer
7. Power of Attorney: Include when either party is acting through an authorized representative
1. Property Schedule: Detailed property specifications, including floor plans and area calculations
2. Payment Schedule: Detailed breakdown of payment installments and due dates
3. Included Items: List of furniture, fixtures, and fittings included in the sale
4. Required Documents: List of documents required from both parties for completion
5. Property Title Details: Copy of title deed or relevant ownership documents
6. Due Diligence Checklist: List of checks and verifications to be completed
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