IMPORTANT RERA FORMS/CONTRACTS IN DUBAI FOR YOUR NEXT PROPERTY TRANSACTION

When buying or selling a property in Dubai, one is bound to come across the mention of Contract A, Contract B, and Contract F. Also, most agents come across Form I (A2A Agreement) daily. So what are these forms and contracts; Let me explain in detail below the importance and significance of these documents. Thanks to the digitization initiatives of the Dubai government, it is important to note that these documents are digitally created and use digital signatures, making the process smooth and easy

CONTRACT A:?Agency Contract Agreement/Listing Form

The seller and listing agent need to sign RERA Contract A after the seller has chosen the agency that wishes to market their property. RERA Contract A contains the following clauses:

• An overview of the terms of the listing agent-seller agreement.
• Particulars about the property, such as the status of the mortgage, payment due dates, and financial data.
• Information about the marketing strategy to be used for the property. Without a signed agreement, the seller is not permitted to list the property on any platform.

Contract A will be accepted by the DLD's Trakheesi system upon signature, at which point a permit number will be issued for the property advertisement. It is noteworthy that when a property is put up for sale, the broker needs to obtain the seller's information. In the event that multiple individuals jointly own the property, they are required to sign Contract A with RERA. A property owner may only deal with a maximum of three brokers and complete three Form A at a time (one form for each broker), per RERA regulations. As an alternative, the property owner may work with just one broker and have an "Exclusive" Form A.

Agents can use the following link to get access to how to create Contract A: https://dubailand.gov.ae/media/xcrjstjp/brokers-journey-to-create-contract-a_en.pdf

CONTRACT B:?Buyer’s Agent Agreement

To purchase real estate in Dubai, you must have an RERA Form B. If you are looking for offices for sale in Dubai, this is also essential. When a buyer designates an agent to locate a home for sale, they are required to sign Contract B. It's critical to select a real estate agent with RERA certification who can show you houses according to your needs and price range. To designate an agent to locate your ideal property, you must sign Contract B with DLD.

All required data, including the following, must be included in RERA Form B:

• The property type the buyer is interested in
• The property’s location
• The buyer’s budget
• Requirements of the buyer

It should also include contract termination terms, compensation percentage, and agency commission.

As per RERA law, the buyer is obligated to terminate this agreement unilaterally for a specific reason. If such a situation arises, the buyer needs to fill out Form U with a detailed description of the reason for terminating further cooperation with the agent.

Agents can use the following link to get access to how to create Contract B: https://dubailand.gov.ae/media/0n2dbynt/broker-s-journey-to-create-contract-b_en.pdf

FORM I: Agency Agreement/A2A Agreement

Form I is an agreement between two agents who act on behalf of the buyer and the seller. The form protects the agent’s rights, listings and clients. Form I also ensures a professional relationship between two or more agents.

Form I is mainly applicable when several agents are involved in one joint transaction concerning property sale or lease.

CONTRACT F: Contract of Sale/MOU

The Memorandum of Understanding, or RERA Contract F, is Dubai's crucial real estate document. The buyer-seller purchase agreement terms and conditions are detailed in Contract F by RERA Dubai. After deciding on a price and the buyer selecting the property, the contract is signed by both parties.

To finalise the transaction, you need this contract to purchase an apartment or villa in Dubai. The property, financial, and commission to be paid to the buyer's and seller's agents will all be covered by Dubai Land Department Contract F. Notably, though, the Contract F by RERA is only a legally binding agreement if both the buyer and the seller have signed it. The agent's witness and date are also required.

The RERA Contract F must be completed for any real estate transaction to proceed. Schedules, attachments, or incorporations by reference are typically added to Form F by parties engaging in a separate sale agreement (SPA).

Agents can use the following link to get access to how to create Contract F: https://dubailand.gov.ae/en/about-dubai-land-department/broker-s-journey-to-create-contract-f/#/