The Real Estate Offer And Acceptance Form is a crucial document in UAE property transactions, designed to comply with federal and emirate-specific real estate regulations. It is primarily used when a potential buyer wishes to formalize their interest in purchasing a property and the seller wishes to accept such offer. The document serves as the initial binding agreement between parties and includes critical information such as property details, purchase price, payment terms, and conditions for completion. In the UAE's sophisticated real estate market, particularly in Dubai and Abu Dhabi, this form must adhere to RERA guidelines and other regulatory requirements. It forms the basis for subsequent property registration and transfer processes, making it an essential step in real estate transactions. The document is designed to protect both parties' interests while ensuring compliance with local laws and regulations governing property transactions.
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1. Parties: Details of the seller (vendor) and buyer (purchaser), including full legal names, Emirates ID numbers, passport numbers, and contact information
2. Background: Brief context of the transaction and property being offered for sale
3. Definitions: Key terms used throughout the document, including Property, Purchase Price, Deposit, Completion Date, etc.
4. Property Details: Comprehensive description of the property including address, size, type, registration details, and RERA property identification number
5. Purchase Price: Total purchase price, currency, and payment structure
6. Payment Terms: Detailed breakdown of payment schedule, deposit amount, and payment methods
7. Completion Terms: Conditions for completion, timeframe, and completion date
8. Property Handover: Terms and conditions for the physical handover of the property
9. Seller's Warranties: Warranties regarding property ownership, no encumbrances, and authority to sell
10. Registration: Requirements and process for property registration with relevant authorities
11. Governing Law and Jurisdiction: Confirmation of UAE law application and relevant emirate's courts' jurisdiction
1. Condition of Property: Used when specific conditions or defects of the property need to be documented
2. Broker Details: Include when a licensed real estate broker is involved in the transaction
3. Mortgage Details: Required when the purchase involves mortgage financing
4. Service Charges: Included for properties in managed communities or buildings with service charges
5. Tenant Rights: Required when the property is being sold with existing tenants
6. Parking Allocation: Used when specific parking spaces are included in the sale
7. Furniture and Fixtures: Include when the sale includes specific furniture or fixtures
8. Developer Approval: Required for properties where developer approval is needed for transfer
1. Property Layout Plan: Official floor plan and layout details of the property
2. Title Deed Copy: Copy of the current title deed showing ownership details
3. Payment Schedule: Detailed breakdown of payment installments and due dates
4. Property Photographs: Current photographs of the property's condition
5. Inventory List: List of included fixtures, fittings, and furniture if applicable
6. NOC Template: Template for No Objection Certificate from developer or relevant authorities
7. Due Diligence Documents: Copies of utility bills, service charge statements, and maintenance records
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Real Estate Agent
Property Manager
Legal Counsel
Compliance Officer
Real Estate Director
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Property Consultant
Transaction Manager
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Contract Administrator
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