What’s Contract A in Dubai Real Estate?
Contract A, also known as Form A, is a RERA approved form that is signed between the seller and the real estate agent. Once the contract is signed between the two, the agent will then be authorised to market your unit. However, sellers can decide the marketing platforms and terms. The listed broker will then not be allowed to market on any other portal, except the ones you have agreed upon.
RERA form A also pins payment schedules, mortgage of the property and service charges in Dubai. The signed seller and agent agreement must be approved by DLD’s Trakheesi system. The system will allot a permit number to the property broker for marketing and advertising.
Besides, the seller can sign Form A with three property brokers at a time, as per the RERA laws. Also, if there are more than one property owners, then Form A must be signed by all of them. Once the property is listed for sale, the agents should ensure that they have complete details of the seller.
The seller can terminate their contract with the property broker, irrespective of the reason. However, a seven days written notice is to be presented to the real estate agent, along with the reason for termination. In this matter, Form U must be signed to process the termination of Contract A.