Buying & fees
SPA (Sale and Purchase Agreement)
An SPA is the binding contract between buyer and seller that sets the price, payment terms, and conditions of a property sale.
The Sale and Purchase Agreement is the core legal document governing a property transaction, detailing the purchase price, payment schedule, handover date, and the obligations of each party. In off-plan deals it also covers construction specifications, completion timelines, and remedies for delay. Buyers should review the SPA carefully, ideally with legal advice, because its terms determine their rights before the transfer is registered with ADREC; this is general information and not legal or investment advice.
Related terms
- Oqood (Off-Plan Registration) — Oqood is the registration of an off-plan property purchase, recording the buyer's interest in a unit that is still under development.
- Escrow Account — An escrow account is a regulated bank account that holds off-plan buyer payments and releases them to the developer only as construction progresses.
- NOC (No Objection Certificate) — An NOC is a developer-issued certificate confirming no outstanding dues on a property, allowing a resale transfer to proceed.
- Transfer Fee — A transfer fee is the government charge paid to register a change of property ownership, calculated as a percentage of the sale price.