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Home For Sale By Owner Purchase Agreement
"I need a Home For Sale By Owner Purchase Agreement in Saudi Arabia for a 3-bedroom villa in Riyadh, with a closing date in March 2025, including provisions for a 20% down payment and the remaining amount to be paid in three installments."
1. Parties: Identification of the seller and buyer with full legal names, national ID numbers, and contact details as required by Saudi law
2. Background: Brief context of the sale transaction and property ownership status
3. Definitions: Key terms used throughout the agreement, including property-specific terminology and legal concepts
4. Property Description: Detailed description of the property including address, deed number, and boundaries as per Saudi property registration requirements
5. Purchase Price and Payment Terms: Agreed purchase price, payment schedule, and method of payment in compliance with Sharia law
6. Property Transfer Procedures: Steps for transferring ownership through official channels including registration at the appropriate municipality
7. Seller's Representations and Warranties: Seller's declarations regarding property ownership, condition, and absence of encumbrances
8. Buyer's Representations and Warranties: Buyer's declarations regarding financial capability and understanding of purchase terms
9. Closing Requirements: Conditions to be met before property transfer, including documentation and payments
10. Property Inspection and Acceptance: Terms regarding property inspection and buyer's acceptance of condition
11. Default and Remedies: Consequences and available remedies in case either party defaults
12. Governing Law and Jurisdiction: Specification of Saudi law and Sharia compliance requirements
13. Notices: How formal communications between parties should be made and delivered
14. Entire Agreement: Statement that the document represents the complete agreement between parties
1. Financing Contingency: To be included if buyer's purchase is contingent on obtaining financing
2. Property Maintenance Until Closing: Include when there's a significant gap between agreement and closing
3. Existing Tenants: Include if property has current tenants and handling of their rights
4. Furniture and Fixtures: Include if specific items are included/excluded from sale
5. Construction Completion: Include for properties under construction or requiring specific modifications
6. Special Conditions for Foreign Buyers: Include if buyer is non-Saudi, addressing special requirements
7. Zakat Implications: Include details about Islamic tax obligations if relevant
8. Agency Disclosure: Include if any party was previously represented by an agent
1. Schedule A - Property Details: Detailed property specifications, boundaries, and registration details
2. Schedule B - Property Plan/Drawing: Official property plans and drawings as registered with municipality
3. Schedule C - Inventory List: List of included fixtures, fittings, and other items in the sale
4. Schedule D - Payment Schedule: Detailed breakdown of payment terms and installments
5. Schedule E - Required Government Forms: Mandatory forms for property transfer in Saudi Arabia
6. Schedule F - Property Inspection Report: Results of property inspection and condition assessment
7. Schedule G - Title Documents: Copies of relevant title documents and ownership proof
8. Appendix 1 - Municipality Certificates: Required municipal certificates and clearances
Authors
Real Estate
Property Development
Construction
Banking and Finance
Legal Services
Insurance
Property Management
Islamic Finance
Urban Development
Residential Property
Legal
Real Estate
Compliance
Property Management
Document Processing
Risk Management
Property Registration
Islamic Banking
Contract Administration
Property Development
Property Owner
Real Estate Lawyer
Legal Counsel
Property Developer
Compliance Officer
Real Estate Manager
Property Registrar
Municipality Officer
Banking Officer
Islamic Finance Advisor
Property Appraiser
Legal Document Specialist
Contract Administrator
Real Estate Investment Manager
Property Transaction Coordinator
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