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Commercial Property Purchase Contract
"I need a Commercial Property Purchase Contract for acquiring a 5,000 square meter industrial warehouse in Riyadh Industrial City, Saudi Arabia, with completion scheduled for March 2025, including specific provisions for existing tenant transfer and environmental compliance requirements."
1. Parties: Identification of the seller and purchaser, including full legal names, addresses, and commercial registration details
2. Background: Context of the transaction and confirmation that the property is legally owned by the seller and eligible for sale
3. Definitions: Key terms used throughout the agreement, including property-specific terminology and legal concepts
4. Sale and Purchase: Core terms of the transaction, including clear identification of the property and agreement to sell and purchase
5. Purchase Price: Detailed breakdown of the purchase price, payment terms, and method of payment
6. Completion: Process and requirements for completing the transaction, including timing and location
7. Property Title and Registration: Provisions regarding transfer of title and registration with relevant authorities
8. Seller's Warranties: Warranties regarding ownership, authority to sell, and property condition
9. Due Diligence: Buyer's rights and process for property inspection and document verification
10. Compliance with Laws: Confirmation of compliance with Shariah principles and Saudi regulations
11. Handover: Terms and process for physical handover of the property
12. Taxes and Fees: Allocation of responsibility for various taxes, registration fees, and other costs
13. Governing Law and Jurisdiction: Confirmation of Saudi law application and dispute resolution mechanisms
1. Financing Arrangements: Required if the purchase involves Islamic financing or mortgage arrangements
2. Foreign Ownership Provisions: Required if the purchaser is a foreign entity, addressing specific regulatory requirements
3. Conditions Precedent: Needed if completion is subject to specific conditions being met
4. Tenant Provisions: Required if the property is sold with existing tenants and lease agreements
5. Development Obligations: Needed if the property requires specific development or modification post-purchase
6. Environmental Provisions: Required for properties with potential environmental concerns or specific requirements
7. Service Contracts: Needed if there are ongoing service contracts that need to be transferred or terminated
1. Property Description: Detailed description of the property, including boundaries, area, and official title details
2. Property Plan: Official plans and drawings of the property and any buildings
3. Title Documents: Copies of relevant title documents and ownership certificates
4. Payment Schedule: Detailed breakdown of payment installments and timing if applicable
5. Existing Tenancies: Details of any existing lease agreements and tenant information
6. Property Inventory: List of fixtures, fittings, and equipment included in the sale
7. Due Diligence Results: Summary of technical, legal, and financial due diligence findings
8. Regulatory Approvals: Copies of relevant permits, licenses, and regulatory approvals
Authors
Real Estate
Commercial Property Development
Retail
Manufacturing
Hospitality
Healthcare
Education
Logistics
Banking and Finance
Professional Services
Industrial
Technology
Legal
Real Estate
Finance
Operations
Compliance
Risk Management
Facilities Management
Corporate Development
Investment
Property Management
Asset Management
Chief Executive Officer
Chief Financial Officer
Real Estate Director
Property Manager
Legal Counsel
Corporate Lawyer
Facilities Manager
Investment Manager
Development Director
Operations Director
Commercial Director
Compliance Officer
Risk Manager
Asset Manager
Property Acquisition Manager
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