The Different Types of RERA forms buyers and sellers should know

The process of buying and selling properties in Dubai can be complicated if you are not familiar with the documentation necessary to complete a deal. The Real Estate Regulatory Agency of the Dubai Land Department has different types of forms that are required to be filled when a buyer or seller is dealing with properties in Dubai. Here are the most important forms that the first-timer in Dubai must know before selling or buying any property in the city.

Form A

Form A also referred to as the broker’s agreement or listing form is an official agreement between the real estate agent and the seller for listing the property in the market. This form will allow the seller to list the property in the real estate market with a permit number ensuring that no other parties can advise the property other than the agreed agents. The form consists of financial details, service charges, mortgage status, and payment schedules. The form will also include the details of how the property will be marketed. The property can have 3 active agents advertising the permitted listing.

Form B

Form B also referred to as the Buyer’s contract is the official document between a professional real estate agent and a property buyer. It is always recommended to purchase a property with a real estate agent providing full service with all the official procedures. This RERA form will be signed by the buyer and the appointed agent to proceed with property viewing and purchasing.

Form I

This form is a contract between agent to agent. This RERA agreement is signed when two agents decide to work together on a listed property. The form serves a purpose to protect the agent listings, agent clients, and maintain a professional relationship between the two agents.

Form F

Form F also referred to as the Memorandum of Understanding is a contract between the buyer and seller. It is also known as the purchase agreement. Form F is an important agreement signed between the two parties and it is a valid contract that the RERA refers to while following the purchase/sale process. The form outlines everything from the property to the financial details and the commissions that are required to be paid to the agents. The contract is valid only when both parties agree to sign it after agreeing to the terms and conditions. This is a mandatory form in Dubai for any real estate transaction.

Form U

Form U is used to terminate the contract between the two parties involved in a transaction or listing. Both buyers and sellers can use form U to terminate Form A or B.