The basic provisions that are required to be included in all off-plan sale contracts are as follows:
- The name and address of both the buyer and the developer;
- The developer's license number;
- The name, location and license number of the development (the project) to be inserted when available;
- The target date of completion of the unit and the target date of handover to the buyer;
- The description and specifications of the unit including:
- dimensions of the unit;
- associated rights (e.g. any rights of way over roads or paths, any rights to use parts of the development e.g. a swimming pool or gym);
- any rights to use a car parking space; and
- any special rights for that unit in relation to the common property;
- All details of the common areas in the development;
- The payment plan described below should be followed in the template;
- Payments under the contract shall be made into the escrow account.
NOTE: Any Template contract that does not contain the above provisions may be rejected by RERA.