Terms and Conditions - Online Reservation Application

  1. Any purchaser interested in reserving a property through this online application (the “Purchaser”), shall at his/its full responsibility provide and submit complete and accurate contact information and documents, as required on/by the online application.
  2. After the Purchaser has selected his/its property of choice through this online application (the “Property”), the Purchaser shall pay by credit card a deposit of AED 37,000/- (Thirty Seven Thousand Arab Emirates Dirham) (the “Deposit”) to reserve the selected Property (the “Reservation”) for a period of (5) five calendar days (the “Reservation Period”), starting from the date the Deposit was made.
  3. Before the expiry of the Reservation Period, the Purchaser shall sign the offer to purchase of the Property (the ”Offer to Purchase”) as per the terms and conditions of the vendor of the Property (the “Vendor”), submit the signed Offer to Purchase to the Vendor and pay in full to the Vendor the first instalment (the “First Instalment”) of the purchase price of the Property (the “Purchase Price”) in the amount and by means of payment determined by the Vendor in its absolute discretion. The Deposit may, at the Vendor’s absolute discretion, be applied towards the First Installment and the difference between the Deposit and the First Installment will need to be paid by the Purchaser before the expiry of the Reservation Period or applied to the subsequent instalments of the Purchase Price. Until the signing of the Vendor’s sales and purchase agreement of the Property (the “SPA”), the Offer to Purchase shall constitute a binding and enforceable contract on the Purchaser to purchase the Property and the Purchaser unconditionally, irrevocably and finally agrees to purchase the Property from the Vendor at the Purchase Price and in accordance with the payment schedule determined by the Vendor, in its absolute discretion. If the Purchaser fails to sign the Offer to Purchase and/or pay the First Instalment in full within the Reservation Period for any reason whatsoever, the Reservation shall automatically terminate (unless the Vendor decides otherwise at its absolute discretion) upon the expiry of said period and the Deposit shall be forfeited to the Vendor, without need for notice, court judgment or any further proceedings (legal or otherwise).
  4. The Purchaser irrevocably and finally acknowledges accepts and agrees that during the Reservation Period and/or during a period of (120) one hundred twenty days from the date of signing of the Offer to Purchase, the Vendor may decide not to proceed in the sale of the Property at any time, and may terminate the Reservation and/or the Offer to Purchase without the need to disclose the reason for termination, and without the need for any notice, proceedings (legal or otherwise) and/or court judgment, and without any liability whatsoever on the Vendor. In case of such termination, the Vendor shall refund the paid Deposit and/or the paid First Instalment, as applicable, to the Purchaser without any interest and without any other compensation of any kind. The Purchaser hereby explicitly and finally waives any rights to claim any interest or compensation in respect of the foregoing that might be provided/allowed under any applicable laws.
  5. Except in case of termination by the Vendor in accordance with Clause (4) above, the Deposit and/or the First Instalment, as applicable, are not refundable to the Purchaser for any reason whatsoever. The Reservation and/or the Offer to Purchase are not transferable or assignable and cannot be used to purchase the Property in the name and/or for the benefit of third parties. Any such purchase, attempted transfer or assignment will be considered null and void. For the avoidance of doubt, and without any limitation, real estate agents/agencies are not allowed to reserve through this online application any Property in favour or for the benefit of any of their clients.
  6. In addition to the Purchase Price, the Purchaser agrees to pay at the first request of the Vendor all pre-registration and/or final registration charges and any other related amounts, as may be levied by the relevant Land Department and/or ERES from time to time, for the transfer and registration of the Property with the relevant Land Department. The pre-registration and/or final registration charges may be changed by the Land Department, ERES and/or the Vendor from time to time, and the Purchaser undertakes to pay any additional or changed charges.
  7. The Purchaser shall sign the SPA no later than (5) five working days from the date on which the Purchaser is notified by the Vendor to sign the SPA. For the avoidance of doubt, the signature of the Purchaser on the SPA shall not affect the rights of the Vendor under the above Clause (4). If the Purchaser fails to sign the SPA within the prescribed period for any reason whatsoever, the Offer to Purchase shall automatically terminate upon the expiry of said period and the Deposit and the First Instalment shall be forfeited to the Vendor, without need for notice, court judgment or any further proceedings (legal or otherwise). The Purchaser acknowledges and agrees that the SPA may contain provisions that the Property shall not be subject to resale prior to the handover of the Property, unless the prior written approval of the Vendor is obtained.
  8. Failure of the Purchaser to purchase the Property and pay any and all payments towards the Purchase Price and any other related fees, charges and expenses, shall entitle the Vendor to immediately and automatically terminate the sale and forfeit the Deposit and the First Instalment, without need for notice or any further proceedings (legal or otherwise) and/or court judgment. This is without prejudice to the Vendor’s right to recover any additional amount from the Purchaser as compensation.
  9. All other terms and conditions of the Vendor, the Offer to Purchase, SPA and/or any other documents issued by the Vendor, at its absolute discretion, shall apply to the sale of the Property.
  10. Neither the online posting of any Property nor this online application or the Reservation constitute a binding agreement of sale from the Vendor or a promise to sell from the Vendor. The signature by the Vendor on the SPA shall constitute an approval by the Vendor to sell the Property to the Purchaser. The sale of any Property is subject to approval by the Vendor, at its absolute discretion, and the agreement by the Purchaser of the Vendor's terms and conditions of sale.
  11. The Purchaser agrees to comply with all regulations, laws and requirements in all relevant jurisdictions (inter alia all relevant exchange control requirements) and obtain all licenses, consents or permissions required to enter into and perform his/its obligations under the Reservation, the Offer to Purchase, the SPA, and/or under any document executed or to be executed in connection thereof.
  12. The Purchaser hereby represents and warrants to the Vendor that he/it has read, understood, and agreed to all the terms and conditions of this Reservation and he/it is entering into a transaction with the Vendor at his/its own risk, responsibility, and liability. The Vendor, its parent company, their affiliates and subsidiaries, the respective shareholders and partners, directors, employees, agents and representatives shall not be held responsible or liable in any manner whatsoever for any loss, costs, damages, or liabilities whatsoever incurred and in any way related to or connected with this subject, whether now or in the future, and the Purchaser irrevocably and unconditionally discharges and releases them from all such obligations and liabilities.
  13. The Purchaser irrevocably and finally agrees and authorizes the Vendor (including its parent company and their affiliates and subsidiaries) (together the “Group”) to collect, transfer, store and use the Purchaser’s information for any legitimate purpose inter alia for internal record keeping, to contact the Purchaser either directly or through any third party service provider and/or to comply with any legal requirements. The Purchaser accepts and agrees that although the Group employs security measures in order to protect the information of its customers, the Group cannot guarantee that the security measures will protect against the loss or misuse of the Purchaser’s information and accordingly the Group shall bear no responsibility of any kind in respect thereof.
  14. The Vendor and/or its parent company reserves their right at any time and at their absolute discretion, to amend these Terms and Conditions from time to time, or cancel/suspend the online application process/portal, without the need for notices and without any liability whatsoever.
  15. Additional terms and conditions may apply.