What RERA forms do you need when buying Real Estate in Dubai

FORM A – AGENCY CONTRACT AGREEMENT/LISTING FORM

Once a seller has found the agent who wants to advertise their property, the seller and listing agent must sign RERA Form A. Clauses in RERA Form A include:

• An outline of the agreement between the seller and the listing agent.

• Property details like financial information, service charges, mortgage status, and payment schedules.

• Details regarding how the property will be marketed. The seller is not authorized to advertise the property on any portal without a written agreement. The RERA rent calculator and RERA index calculator may be used to estimate appropriate rental prices. Additionally, utilizing the RERA rental index calculator can help align asking prices with current market trends.

Form B – Buyer’s Agent Agreement

Hiring a qualified agent that will only work for the buyer. In this case, a buyer’s agent fills out Form B and the buyer(s) sign the agreement. This document is essential for establishing a clear framework that includes RERA regulations specific to buyer representation.

It’s worth noting that the buyer can decide to terminate the agreement with the agent for any reason. However, they must give at least 7 days written notice to the agent stating the reason for termination. For a proper termination, Form U must be executed (mentioned later in this article).

A Buyer’s agent is able to attend inspections and auctions as well as interact with a listing agent, only if it is on the appropriate Form I – Agent to Agent Agreement - mentioned in the next point. This interaction often involves the use of RERA contact numbers to facilitate communication.

FORM I – AGENCY 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. It is crucial for agents to understand the RERA real estate regulations that govern such interactions.

Form I is mainly applicable when several agents are involved in one joint transaction concerning property sale or lease. It is critical in maintaining compliance with RERA regulations. The use of RERA real estate forms ensures that all parties are adequately informed and legally protected.

Form F – Purchase Agreement Contract

Form F is the purchase agreement in which it details the property, price, and terms and conditions of the property intended to be purchased. RERA Form F is crucial for defining the legal framework of the property transaction. This form, along with the RERA property finder, aids in ensuring transparency and fairness in the transaction process.

When the form is signed by the buyer and the seller and is witnessed and dated by the agent, then it becomes a valid contract. RERA legal guidelines and the RERA license verification play vital roles in validating the legitimacy of the agents involved.

Form U – Notice of Termination of Agreement

By using Form U, terminating an agreement (Form A/Form B) with a real estate agent is the proper way. It ensures that all legal requirements are met and both parties are protected under RERA's legal guidelines. Additionally, RERA complaint procedures can be initiated if any disputes arise post-termination.