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Amendment To Contract For Sale Of (Real Estate) Template for Saudi Arabia

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Key Requirements PROMPT example:

Amendment To Contract For Sale Of (Real Estate)

"I need an Amendment to Contract For Sale Of (Real Estate) to modify the closing date to March 15, 2025, and adjust the payment schedule for a commercial property in Riyadh, ensuring compliance with Saudi law and including provisions for bank financing."

Document background
The Amendment To Contract For Sale Of (Real Estate) is a crucial document used in Saudi Arabian real estate transactions when parties need to modify terms of an existing property sale agreement. This document becomes necessary when circumstances require changes to the original contract, such as adjustments to payment terms, closing dates, or property specifications. It must comply with Saudi Arabia's Real Estate Registration Law, Sharia principles, and recent reforms by the Real Estate General Authority (REGA). The amendment ensures legal continuity of the original agreement while incorporating agreed changes, requiring proper authentication and registration with Saudi authorities. This document is particularly important given Saudi Arabia's strict requirements for real estate documentation and the need for clarity in property transactions.
Suggested Sections

1. Parties: Identification of all parties to the original contract and amendment, including full legal names and details as per Saudi requirements

2. Background: Reference to the original contract including its date and registration details, and brief context for the amendment

3. Definitions: Key terms used in the amendment, including reference to definitions from the original contract that remain applicable

4. Amendment Details: Specific modifications to the original contract, clearly stating both the original and new provisions

5. Effect on Original Agreement: Statement confirming all other terms of the original agreement remain in full force and effect

6. Governing Law: Confirmation that Saudi Law and Sharia principles govern the amendment

7. Execution: Formal execution block meeting Saudi legal requirements, including space for official authentication if required

Optional Sections

1. Consideration: Required if the amendment involves any change in price or additional payment

2. Regulatory Compliance: Required if the amendment needs to address specific regulatory requirements or permits

3. Third Party Consents: Include when the amendment requires approval from mortgagees, regulatory bodies, or other third parties

4. Registration Requirements: Include when specific registration or documentation requirements apply to the amendment

5. Effective Date: Include when the amendment takes effect on a date different from the execution date

Suggested Schedules

1. Schedule 1 - Original Contract: Copy or extract of the original contract being amended

2. Schedule 2 - Modified Terms: Detailed listing of specific terms being modified, if extensive

3. Schedule 3 - Property Details: Updated property details if any changes to the property description or boundaries

4. Schedule 4 - Required Approvals: Copies of any required third-party approvals or regulatory permits

5. Appendix A - Updated Payment Schedule: If the amendment involves changes to payment terms or amounts

Authors

Alex Denne

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

Relevant legal definitions






























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Relevant Industries

Real Estate

Construction

Banking & Finance

Legal Services

Property Development

Commercial Property

Residential Property

Industrial Property

Hospitality

Retail

Relevant Teams

Legal

Real Estate

Compliance

Risk Management

Property Management

Sales

Documentation

Corporate Affairs

Investment

Operations

Relevant Roles

Real Estate Attorney

Property Manager

Legal Counsel

Real Estate Agent

Contract Manager

Compliance Officer

Real Estate Development Manager

Property Sales Director

Legal Documentation Specialist

Real Estate Transaction Coordinator

Risk Management Officer

Corporate Counsel

Real Estate Investment 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,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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