Contracts and Documentation to Buy a Property in Sharjah
Like other emirates, Sharjah has specific legal requirements and procedures governing real estate transactions. From initial agreements to the final transfer of ownership, a comprehensive understanding of the essential paperwork is important to ensure a smooth property acquisition process. Let’s look at the necessary contracts and documentation for buying a property in Sharjah.
LEGAL PROCEDURE TO BUY A PROPERTY IN SHARJAH
Understanding the procedures is paramount to ensuring a smooth and legally sound property acquisition process. Let’s delve into the details of the paperwork and contractual obligations involved in purchasing property in Sharjah.
CONTRACTUAL REQUIREMENTS
A legal requirement for buying a property in Sharjah is to register a usufruct property with the Sharjah Real Estate Registration Department (SRERD). A property agreement is drawn between the buyer and seller. Here’s an overview of what the contract should cover.
- A property agreement should detail the agreed-upon purchase price, payment schedule and other financial terms.
- The lease duration should be stipulated.
- Property contract should also specify the process and conditions of title transfer from the seller to the buyer.
- The real estate agreement should also discuss the clear terms of contract termination.
DOCUMENTS REQUIRED FOR BUYING A PROPERTY IN SHARJAH
You’ll need the following documents when buying properties in Sharjah.
- An Electronic No Objection Certificate (eNOC)
- Emirates ID
- Power of attorney (in case a seller has appointed any other individual)
- Property title deed
- Sales and purchase contract
- Valid building permit issued by Sharjah Municipality within the last three months
- Completion certificate from either the Sharjah Municipality or the Roads and Transport Authority
- Official certificate approving the project’s name, applicable to towers or complexes
- The company’s current commercial licence and Memorandum of Association
- Detailed schedule of all units within the project, provided in both hard copy and soft copies
- Bank guarantee letter formatted according to the Sharjah Real Estate Registration Department (SRERD) template
- A comprehensive list of all buyers associated with the project
- Acknowledgement receipt from the Sharjah Electricity, Water and Gas Authority (SEWA) confirming the submission of electrical plans
In addition to the above-mentioned documents, if you’re an expat, you’ll need to present a copy of your valid passport with a UAE visa.
This brings us to the end of our guide to contracts and documentation for buying a property in Sharjah. With some due diligence, you should be able to meet the requirements for buying Sharjah real estate.
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