What’s Contract B in Dubai Real Estate?
Form B RERA Dubai is a contract between property buyers and brokers. This RERA form mandates buying any property in Dubai through a real estate agent. In an ideal scenario, you should list a qualified property broker, certified by RERA. Form B lists the type of property you are looking for and the budget limits. The RERA certified real estate agents hold sound knowledge to meet your criteria. Once buyer and agent agreement is signed, the listed broker will only work for buyers and will find the properties matching the stated requirements. On behalf of the buyer, the broker interacts with the seller’s listing agent (as per FORM I – Agent to Agent form RERA), attends auctions and inspects the property.
Form B is signed by the agent and signed by the buyer. Please note that the buyer and seller, both 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 termination.