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Contract To Sell (Real Estate)

Contract To Sell (Real Estate) Template for Saudi Arabia

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Key Requirements PROMPT example:

Contract To Sell (Real Estate)

"I need a Contract to Sell (Real Estate) for a commercial office building in Riyadh, Saudi Arabia, with the sale to be completed by March 2025, including provisions for existing tenants and staged payments."

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Document background
The Contract to Sell (Real Estate) is a fundamental legal instrument used in Saudi Arabian property transactions, essential for documenting and executing real estate sales in compliance with both civil law and Sharia principles. This document is required whenever there is a transfer of real estate ownership within Saudi Arabia, whether for residential, commercial, or industrial properties. It must adhere to the Real Estate Registration Law, Foreign Investment Law (if applicable), and various municipal regulations. The contract serves as the primary agreement between parties, detailing all aspects of the property sale including price, payment terms, property specifications, and transfer procedures. It is designed to protect both buyer and seller interests while ensuring transparency and legal compliance in the property transfer process.
Suggested Sections

1. Parties: Detailed identification of the Seller and Buyer, including their full legal names, national ID/CR numbers, and addresses

2. Background: Context of the sale, brief description of the property, and purpose of the agreement

3. Definitions: Definitions of key terms used throughout the agreement

4. Property Description: Comprehensive description of the real estate, including title deed number, location, dimensions, and boundaries

5. Purchase Price: Agreed purchase price, payment schedule, and method of payment

6. Payment Terms: Detailed payment structure, installments if any, and consequences of default

7. Completion: Process and timeline for transfer of ownership and registration

8. Seller's Warranties: Warranties regarding ownership, absence of encumbrances, and property condition

9. Buyer's Obligations: Responsibilities of the buyer including payment and documentation requirements

10. Property Handover: Terms and conditions for physical possession transfer

11. Title Transfer: Process for legal title transfer at the relevant authority

12. Termination: Circumstances under which the contract may be terminated and consequences

13. Governing Law: Confirmation of Saudi Law and Sharia compliance

14. Notices: Communication methods and addresses for formal notices

15. Entire Agreement: Standard entire agreement clause confirming this is the complete agreement between parties

Optional Sections

1. Broker Provisions: Required when a licensed real estate broker is involved in the transaction

2. Foreign Ownership Compliance: Required when the buyer is a non-Saudi national or entity

3. Development Obligations: Required for undeveloped land sales with development conditions

4. Mortgage Provisions: Required when the purchase involves mortgage financing

5. Condition Precedents: Required when the sale is subject to specific conditions being met

6. Municipal Approvals: Required when specific municipal permits or approvals are needed

7. Strata Title Provisions: Required for apartments or units in multi-owner buildings

8. Off-Plan Provisions: Required when selling property that is still under construction

Suggested Schedules

1. Property Details Schedule: Detailed technical description of the property including plans, dimensions, and boundaries

2. Title Documents: Copies of title deed and other ownership documents

3. Payment Schedule: Detailed breakdown of payment installments and dates if applicable

4. Property Inspection Report: Current condition report and any identified defects

5. Existing Tenancies: Details of any existing lease agreements affecting the property

6. Property Plans: Architectural plans, layouts, and approved drawings

7. Due Diligence Documents: Copies of permits, certificates, and compliance documents

8. Handover Checklist: List of items and conditions for physical handover of the property

Authors

Alex Denne

Head of Growth (Open Source Law) @ 黑料视频 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions













































Clauses








































Relevant Industries

Real Estate

Construction

Property Development

Banking & Finance

Investment

Hospitality

Retail

Commercial Property

Residential Property

Industrial Property

Infrastructure Development

Urban Planning

Relevant Teams

Legal

Real Estate

Compliance

Finance

Property Management

Investment

Business Development

Risk Management

Operations

Corporate Affairs

Facilities Management

Asset Management

Relevant Roles

Real Estate Manager

Property Developer

Legal Counsel

Compliance Officer

Real Estate Broker

Property Manager

Investment Manager

Facilities Manager

Corporate Lawyer

Contract Manager

Business Development Manager

Asset Manager

Chief Financial Officer

Real Estate Investment Director

Risk Manager

Transaction Manager

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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