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The Owner Financed Sales Contract is utilized in the UAE real estate market when traditional bank financing is not preferred or available, allowing property owners to directly finance the sale of their property to buyers. This arrangement is particularly relevant in the UAE's dynamic real estate market, where flexible financing options are often sought. The document combines elements of both a property sale agreement and a financing agreement, structured to comply with UAE civil and commercial laws, property regulations, and optionally, Islamic finance principles. It includes crucial provisions for property transfer, payment terms, security arrangements, and default remedies, while ensuring alignment with UAE registration requirements and local property laws. The agreement is commonly used for both residential and commercial properties, providing a legally sound framework for seller-financed property transactions.
