Important Things You Should Know Before Signing Sale-Purchase Agreement in Dubai, UAE

1. Important Things You Should Know Before Signing Important Things You Should Know Before Signing Sale Sale- -Purchase Agreement in Dubai, UAE Purchase Agreement in Dubai, UAE SPA (Sale and Purchase Agreement) is a most frequently used jargon in commercial SPA (Sale and Purchase Agreement) is a most frequently used jargon in commercial transactions especially in the real transactions especially in the real- -estate sector. To finalise estate sector. To finalise a deal of either a property or a deal of either a property or any other movable or immovable asset, a well any other movable or immovable asset, a well- -drafted SPA is required. drafted SPA is required. Although having a SPA is one of the primary and most important requirements for the Although having a SPA is one of the primary and most important requirements for the parties, yet parties fail to scrutinise this document to understand th parties, yet parties fail to scrutinise this document to understand their legal status eir legal status according to the laws of the UAE. It is always according to the laws of the UAE. It is always advised by a property lawyer in Dubai advised by a property lawyer in Dubai,, or or wherever you live, to carefully review the contents of the SPA before signing it or wherever you live, to carefully review the contents of the SPA before signing it or parties must seek legal assistance. parties must seek legal assistance.

2. Here are some important things that you should consider before signing a sale Here are some important things that you should consider before signing a sale purchase agreement in Dubai. purchase agreement in Dubai. 1. Review the License of Developer 1. Review the License of Developer It is vital for the buyer to review the permits of the developer and to certify if the It is vital for the buyer to review the permits of the developer and to certify if the developer is registered with the Dubai land department. This step is easy and developer is registered with the Dubai land department. This step is easy and necessary because no one wants to sign the deal with a wrong developer. Department necessary because no one wants to sign the deal with a wrong developer. Department of land, of land, Dubai has provided a list of developers registered with them, during which Dubai has provided a list of developers registered with them, during which one can determine if the developer is holding a valid license an registered with the one can determine if the developer is holding a valid license an registered with the authority. authority. 2. Seek Registration Record of Project 2. Seek Registration Record of Project Every real estate project in Dubai is registe Every real estate project in Dubai is registered with both the Land Department or red with both the Land Department or Oqood as authorised by the Real Estate Regulatory Department of Dubai (RERA). Oqood as authorised by the Real Estate Regulatory Department of Dubai (RERA).

3. Through suitable access to the website of either authority, one can ensure if the project Through suitable access to the website of either authority, one can ensure if the project is registered or not as the authority has provided is registered or not as the authority has provided a non a non- -exhaustive list of permitted exhaustive list of permitted projects in Dubai. projects in Dubai. 3. Obtain a Copy of Title Deed 3. Obtain a Copy of Title Deed The buyer needs to check if the actual owner of the property, as what is mentioned in The buyer needs to check if the actual owner of the property, as what is mentioned in the title deed is mentioned in the SPA. Therefore, reviewing the title deed of the the title deed is mentioned in the SPA. Therefore, reviewing the title deed of the pr property is supreme. Aside from reviewing the title deed, the buyer must also review operty is supreme. Aside from reviewing the title deed, the buyer must also review the privileges awarded to the owner of the property an should confirm if there are any the privileges awarded to the owner of the property an should confirm if there are any restrictions. And in addition to the title deed, the buyer can also search for a copy restrictions. And in addition to the title deed, the buyer can also search for a copy of of community declaration for understanding the rights to use of the property. community declaration for understanding the rights to use of the property. 4. Check Thoroughly the Payment Schedule 4. Check Thoroughly the Payment Schedule Considering a general scenario, the payment schedule term offered by the developers Considering a general scenario, the payment schedule term offered by the developers are often too lengthy and extensive. However, that is are often too lengthy and extensive. However, that is one of the important document as one of the important document as it is only the obligation of the buyer under the contract. And it must be reviewed it is only the obligation of the buyer under the contract. And it must be reviewed cautiously for checking if it meets the construction stages offered by the developer. cautiously for checking if it meets the construction stages offered by the developer. 5. Study the Dispute Resolution Clause 5. Study the Dispute Resolution Clause Buyers must ca Buyers must carefully study the governing law for ensuring if the law modifiable the refully study the governing law for ensuring if the law modifiable the contract is of the UAE. Besides, they must check the method for resolving disputes that contract is of the UAE. Besides, they must check the method for resolving disputes that can be either through the UAE courts or self can be either through the UAE courts or self- -governing arbitration cents. In case of governing arbitration cents. In case of

4. contract opt contract opts for arbitration, buyers must seek legal advice from a professional lawyer s for arbitration, buyers must seek legal advice from a professional lawyer in Dubai. in Dubai. Conclusion: Conclusion: These are some important things that you should consider before signing the sale These are some important things that you should consider before signing the sale- - purchase agreement in Dubai. You can also take the help of a reliable propert purchase agreement in Dubai. You can also take the help of a reliable property lawyer y lawyer in Dubai for knowing everything about the agreement before signing it. in Dubai for knowing everything about the agreement before signing it. CONTACT US CONTACT US Call: Call: (+9714) 3298711 (+9714) 3298711 Email: Email: proconsult@uaeahead.com proconsult@uaeahead.com Website: Website: www.uaeahead.com www.uaeahead.com