Bahrain's Rera launches property seller-broker contract template
Rera boss, Shaikh Mohamed Bin Khalifa Al Khalifa, says utilisation is not mandatory, but will benefit parties in 'straightforward sales'
Bahrain’s Real Estate Regulatory Authority (Rera) has launched a property seller-broker contract that according to Rera chief executive, Shaikh Mohamed Bin Khalifa Al Khalifa, will assist all parties by bringing clarity to the sales process.
The template was developed following consultation with key stakeholders, and Rera's boss said that the document would help improve trust and confidence in the kingdom's property sector.
He added: “The utilisation of this contract, while not mandatory, is expected to benefit all stakeholders, particularly those engaging in straightforward sales of single-unit properties like apartments or villas.”
Over the coming months, Rera will create an assortment of contract templates and additional policies to assist with the process of buying and selling real estate, Bahrain's state news agency, BNA, announced.
Bahrain's property seller-broker contract template can be downloaded from Rera's website: www.rera.gov.bh.