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Private Real Estate Sale Contract Template for Saudi Arabia

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Key Requirements PROMPT example:

Private Real Estate Sale Contract

"I need a Private Real Estate Sale Contract for selling my residential villa in Riyadh to a local buyer, with completion scheduled for March 2025 and payment to be made in three installments."

Document background
The Private Real Estate Sale Contract is a fundamental legal document used in Saudi Arabia for transferring ownership of real estate property between private parties. It serves as the primary agreement in real estate transactions, incorporating essential elements required by Saudi law and Shariah principles. This document is typically used when individuals or companies wish to purchase or sell real estate properties in Saudi Arabia, whether residential, commercial, or industrial. The contract must comply with the Real Estate Registration Law, municipality regulations, and other relevant Saudi legislation. It includes crucial details about the property, parties involved, purchase price, payment terms, warranties, and completion requirements. The document is particularly important as it forms the basis for property registration with relevant authorities and ensures the transaction meets all legal requirements for property transfer in Saudi Arabia.
Suggested Sections

1. Parties: Identification of the seller and buyer with full legal names, addresses, and identification numbers as per Saudi requirements

2. Background: Context of the sale and brief description of the property being transferred

3. Definitions: Key terms used throughout the agreement including Property, Completion Date, Purchase Price, and other relevant terms

4. Sale and Purchase: Core agreement to sell and purchase the property, including the exact description of the property and consideration

5. Purchase Price: Detailed breakdown of the purchase price, payment schedule, and payment methods in compliance with Shariah principles

6. Property Title and Registration: Confirmation of clear title and process for property registration transfer at the relevant municipality

7. Completion: Requirements and process for completion of the sale, including documentation and registration requirements

8. Seller's Warranties: Warranties regarding property ownership, absence of encumbrances, and compliance with regulations

9. Buyer's Warranties: Warranties regarding ability to purchase and compliance with relevant laws

10. Handover: Process and timing for physical handover of the property and transfer of utilities

11. Taxes and Fees: Allocation of responsibility for various taxes and fees including Real Estate Transaction Tax

12. Governing Law: Confirmation of Saudi law and Shariah principles as governing law

13. Execution: Signature blocks and execution requirements

Optional Sections

1. Mortgage Provisions: Required if the purchase involves mortgage financing, including coordination with financial institutions

2. Foreign Ownership Compliance: Required for non-Saudi buyers, including specific compliance requirements with foreign ownership laws

3. Condition Precedents: Include if completion is subject to specific conditions such as regulatory approvals or third-party consents

4. Property Management: Include if there are ongoing property management arrangements that need to be transferred

5. Existing Tenancies: Required if the property is sold with existing tenants and lease agreements

6. Development Obligations: Include if the property involves undeveloped land with development requirements

7. Dispute Resolution: Optional detailed dispute resolution process, including potential arbitration provisions

Suggested Schedules

1. Property Details: Detailed description of the property including title deed number, location, boundaries, and area

2. Property Plan: Official property plans and drawings from the municipality

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

4. Payment Schedule: Detailed breakdown of payment installments and timing

5. Property Inspection Report: Technical report on property condition and any identified issues

6. Permits and Certificates: Copies of relevant permits, certificates, and regulatory approvals

7. Utility Accounts: List of utility accounts and status of payments

8. Existing Contracts: Copies of relevant contracts affecting the property (if any)

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

Relevant legal definitions








































Clauses






































Relevant Industries

Real Estate

Construction

Banking & Finance

Legal Services

Property Development

Investment Management

Hospitality

Retail

Professional Services

Islamic Finance

Relevant Teams

Legal

Real Estate

Compliance

Property Management

Investment

Operations

Risk Management

Corporate Secretariat

Business Development

Facilities Management

Relevant Roles

Real Estate Manager

Property Lawyer

Legal Counsel

Compliance Officer

Real Estate Broker

Property Developer

Investment Manager

Contract Manager

Real Estate Agent

Risk Manager

Company Secretary

Property Portfolio Manager

Acquisition Manager

Real Estate Investment Analyst

Chief Legal Officer

Property Operations 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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