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Wholesale Real Estate Contract Template for Saudi Arabia

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Key Requirements PROMPT example:

Wholesale Real Estate Contract

"I need a Wholesale Real Estate Contract for a commercial warehouse property in Riyadh, Saudi Arabia, with assignment rights to multiple potential buyers and a requirement for Shariah-compliant financing, to be completed by March 2025."

Document background
The Wholesale Real Estate Contract is essential for property transactions in Saudi Arabia where an intermediary (wholesaler) contracts to purchase property with the intention of assigning the contract to an end buyer for a profit. This document is particularly useful in fast-moving real estate markets where investors seek to capitalize on property opportunities without taking final ownership. The contract must comply with Saudi Arabian real estate laws, including the Real Estate Law (Royal Decree No. M/50), and incorporate Shariah-compliant provisions. It contains comprehensive details about the property, parties involved, assignment rights, due diligence requirements, and closing procedures. The document is structured to protect all parties' interests while ensuring transparency and legal compliance in the Saudi Arabian real estate market.
Suggested Sections

1. Parties: Identification of all parties involved, including the original property owner, wholesaler, and end buyer

2. Background: Context of the transaction, including property overview and transaction purpose

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

4. Property Details: Comprehensive description of the property, including legal description and registration details

5. Purchase Price and Payment Terms: Details of the purchase price, payment schedule, and payment methods

6. Assignment Rights: Terms governing the wholesaler's right to assign the contract to end buyers

7. Due Diligence: Requirements and timeframes for property inspection and document review

8. Closing and Transfer: Procedures and requirements for closing the transaction and transferring ownership

9. Representations and Warranties: Statements of fact and guarantees by each party regarding the property and transaction

10. Shariah Compliance: Provisions ensuring the transaction complies with Islamic law principles

11. Default and Remedies: Consequences of breach and available remedies

12. Governing Law and Jurisdiction: Specification of Saudi law application and dispute resolution procedures

Optional Sections

1. Financing Contingency: Used when the transaction depends on obtaining specific financing arrangements

2. Property Management: Required when interim property management arrangements are needed between contract and closing

3. Multiple Buyer Provisions: Included when multiple potential end buyers might be involved

4. Foreign Ownership Provisions: Required when non-Saudi parties are involved in the transaction

5. Broker Provisions: Included when real estate brokers are involved in the transaction

6. Environmental Conditions: Required for properties with potential environmental concerns or requirements

7. Development Rights: Included when the property has specific development potential or restrictions

8. Tenant Rights: Required when the property is currently leased or has existing tenants

Suggested Schedules

1. Property Description Schedule: Detailed legal and physical description of the property

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

3. Due Diligence Checklist: List of required documents and inspections

4. Payment Schedule: Detailed breakdown of payment terms and dates

5. Property Condition Report: Current condition assessment and any identified issues

6. Regulatory Approvals: Copies of relevant permits and governmental approvals

7. Property Plans and Drawings: Technical drawings, floor plans, and site plans

8. Existing Encumbrances: List of any existing liens, mortgages, or other encumbrances

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

Commercial Property

Property Development

Construction

Real Estate Investment

Property Management

Legal Services

Banking and Finance

Insurance

Urban Development

Relevant Teams

Legal

Real Estate

Compliance

Risk Management

Property Management

Investment

Operations

Finance

Due Diligence

Business Development

Relevant Roles

Real Estate Investment Manager

Property Developer

Real Estate Broker

Legal Counsel

Compliance Officer

Real Estate Analyst

Property Acquisition Manager

Contract Administrator

Real Estate Portfolio Manager

Investment Director

Property Valuation Specialist

Real Estate Operations Manager

Risk Management Officer

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

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