The Sales and Purchase Agreement (SPA) is a key document that officially outlines the terms between the buyer and the developer. It provides legal protection and ensures transaction transparency.
What is the SPA?
The Sales and Purchase Agreement (SPA) is a legal document that details all the transaction terms, including the property price, payment schedule, responsibilities of the parties, and other important details.
How to Sign the SPA
1. At the Developer’s Office:
- Visit the developer’s office in person to review the agreement, ask any questions, and sign the document on-site.
- Best suited for buyers located in Dubai.
2. Remotely:
- If you cannot attend in person, the developer will send a copy of the SPA via courier service for you to sign.
- You’ll receive the documents at your address, review them carefully, sign them, and return them using the courier service.
- Ideal for international buyers or those unable to visit the developer’s office.
Key Aspects of the SPA
- Outlining Terms:
The SPA documents all essential terms of the transaction — property price, payment schedule, and the obligations of both parties — ensuring transparency and protecting the buyer’s interests.
- Risk Minimization:
The agreement clearly defines the responsibilities of both the buyer and the developer, reducing risks and potential misunderstandings.