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Seller Contract For House Template for United Arab Emirates

A comprehensive legal document governed by UAE law that formalizes the sale of residential property between a seller and buyer. This contract outlines all essential aspects of the property transaction including purchase price, payment terms, property details, warranties, and completion requirements in accordance with UAE real estate regulations. It incorporates specific UAE property law requirements, including compliance with Real Estate Regulatory Agency (RERA) guidelines and local emirate-specific regulations, while ensuring all necessary steps for legal property transfer are documented and agreed upon.

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What is a Seller Contract For House?

The Seller Contract For House is a crucial legal document used in the United Arab Emirates real estate market for residential property sales transactions. This document is essential when transferring ownership of residential property and must comply with UAE federal laws and emirate-specific regulations. The contract includes detailed provisions covering property specifications, payment terms, warranties, and completion requirements, while ensuring compliance with UAE property laws and RERA regulations. It serves as the primary agreement between parties and forms the basis for property registration with relevant authorities. The document is particularly important in the UAE context where property transactions must follow strict regulatory requirements and documentation standards.

What sections should be included in a Seller Contract For House?

1. Parties: Identification of the seller and buyer with full legal names, Emirates ID numbers, and contact details

2. Background: Brief context of the sale, including property overview and intention to sell/purchase

3. Definitions: Key terms used throughout the agreement including Property, Completion Date, Purchase Price, etc.

4. Property Details: Comprehensive description of the property including title deed number, plot number, and exact location

5. Purchase Price: Agreed purchase price and payment structure, including deposit and balance payment terms

6. Payment Terms: Detailed payment schedule, method of payment, and bank account details

7. Completion Requirements: Conditions to be met before completion, including documentation and regulatory requirements

8. Seller's Warranties: Warranties regarding property ownership, absence of disputes, and property condition

9. Buyer's Obligations: Requirements for the buyer including payment, documentation, and regulatory compliance

10. Property Handover: Process and timing for physical handover of the property

11. Registration and Transfer: Procedures for property registration with relevant authorities

12. Costs and Fees: Allocation of transaction costs, registration fees, and broker commissions

13. Termination: Circumstances under which the agreement can be terminated and consequences

14. Governing Law and Jurisdiction: Confirmation of UAE law application and jurisdiction for disputes

15. Notices: Process for formal communications between parties

What sections are optional to include in a Seller Contract For House?

1. Mortgage Status: Required if the property has an existing mortgage that needs to be cleared

2. Tenant Rights: Required if the property is currently tenanted with existing lease agreements

3. Furniture and Fixtures: Include when sale includes specific furniture or fixtures

4. Maintenance Contracts: Required if there are ongoing maintenance contracts to be transferred

5. Service Charge Settlement: For properties in managed communities with outstanding service charges

6. Broker Arrangements: Required if real estate brokers are involved in the transaction

7. Defect Liability: For new properties or those with known defects requiring attention

8. Power of Attorney: Required if either party is acting through an authorized representative

What schedules should be included in a Seller Contract For House?

1. Schedule 1 - Property Details: Detailed property specification, floor plans, and area calculation

2. Schedule 2 - Title Documents: Copies of title deed and other ownership documents

3. Schedule 3 - Payment Schedule: Detailed breakdown of payment installments and due dates

4. Schedule 4 - Property Condition Report: Current condition assessment and any agreed repairs

5. Schedule 5 - Included Items: List of fixtures, fittings, and furniture included in the sale

6. Appendix A - Required Documents: Checklist of documents required from both parties

7. Appendix B - Handover Protocol: Detailed procedure for property inspection and handover

8. Appendix C - Regulatory Forms: Standard forms required by UAE authorities for property transfer

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents

Publisher

Ƶ

Cost

Free to use

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