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 usufructed 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 clear terms of contract termination.
DOCUMENTS REQUIRED FOR BUYING A PROPERTY IN SHARJAH
You’ll need the following documents to buy a property in the emirate.
- 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
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.
FAQS ABOUT CONTRACTS AND DOCUMENTATION FOR BUYING A PROPERTY IN SHARJAH
CAN FOREIGNERS BUY PROPERTY IN SHARJAH?
Yes. According to the Executive Council Resolution No. 26 of 2014, foreigners in Sharjah have the right to usufruct a property for 100 years. The free zones in Sharjah also offer 100% ownership of properties.
CAN I GET A VISA IF I BUY A PROPERTY IN SHARJAH?
If you invest AED 1M in a property, you can apply for a 6-month multi-entry residence visa valid for three years. Or, if you want to live in the Golden City, here’s a guide to Dubai visas.
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.
If you’re looking for the best areas to live in Sharjah, Al Nahda, Al Majaz and Al Taawun are popular options. If you are an international investor, here is a look at the most popular areas to buy a property in Sharjah for foreigners. Those planning a move, you can hire any of the best movers in Sharjah.
You can also read our guide on rules for foreigners buying property in the UAE.
