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Contract For Buying A House From Owner
"I need a Contract For Buying A House From Owner in Saudi Arabia for a cash purchase of a villa in Riyadh, with completion scheduled for March 2025 and including specific provisions for the transfer of existing maintenance contracts and garden equipment."
1. Parties: Identification of the seller (current owner) and buyer with full legal names, national ID numbers, and contact details
2. Background: Context of the sale and confirmation of the seller's legal ownership and right to sell
3. Definitions: Key terms used throughout the agreement including Property, Completion Date, Purchase Price, and other relevant terms
4. Property Details: Comprehensive description of the property including address, deed number, boundaries, size, and registration details
5. Purchase Price: Agreed purchase price and payment terms, including deposit and completion payment arrangements
6. Payment Terms: Detailed breakdown of payment schedule, method of payment, and currency
7. Completion Requirements: Conditions to be met before completion, including documentation and registration requirements
8. Seller's Warranties: Warranties regarding property ownership, absence of encumbrances, and compliance with regulations
9. Property Transfer: Process and requirements for legal transfer of ownership through relevant authorities
10. Costs and Taxes: Allocation of transaction costs, fees, and any applicable taxes between parties
11. Governing Law: Confirmation of Saudi law and Sharia principles as governing law
12. Dispute Resolution: Process for resolving disputes, including jurisdiction of Saudi courts
1. Mortgage Provisions: Required if the purchase involves mortgage financing, detailing lender requirements and arrangements
2. Property Inspection: Details of property inspection requirements and outcomes, if inspection is a condition of sale
3. Vacant Possession: Required if property is currently occupied and needs to be vacated
4. Utilities Transfer: Procedures for transferring utility accounts, if included in the agreement
5. Maintenance Period: If seller agrees to address any maintenance issues post-sale
6. Foreign Ownership Provisions: Required if buyer is non-Saudi, including necessary permits and approvals
7. Property Management: Required if property is part of a managed complex or development
8. Furniture and Fixtures: Required if sale includes specific furniture or fixtures
1. Property Title Deed: Copy of original title deed and registration documents
2. Property Plans: Official plans showing property boundaries and construction approvals
3. Inventory List: List of included fixtures, fittings, and any furniture if part of sale
4. Payment Schedule: Detailed breakdown of payment installments and dates
5. Property Inspection Report: Technical report on property condition if conducted
6. Utility Accounts: List of current utility accounts and standing charges
7. Municipality Certificates: Relevant certificates showing compliance with local regulations
8. Previous Maintenance Records: Documentation of major maintenance or renovations
Authors
Property
Purchase Price
Deposit
Completion Date
Completion
Title Deed
Seller
Buyer
Business Day
Effective Date
Encumbrances
Property Documents
Registration Authority
Municipality
Notary Public
Transfer Date
Due Diligence Period
Warranties
Possession Date
Force Majeure
Utilities
Fixtures and Fittings
Property Plan
Sale Registration
Sukuk (if financing involved)
Vacant Possession
Applicable Law
Sharia Principles
Title Search
Zakat
Municipal Approval
Deed Number
Purchase Documents
Completion Payment
Default
Permitted Use
Property Register
Transaction Costs
Handover Protocol
Inspection Period
Material Defect
Official Valuation
Registration Fees
Transfer Procedures
Purchase Price
Payment Terms
Title Transfer
Property Registration
Warranties and Representations
Due Diligence
Completion Requirements
Property Inspection
Default and Remedies
Force Majeure
Governing Law
Dispute Resolution
Notices
Assignment
Entire Agreement
Amendments
Severability
Costs and Expenses
Municipal Compliance
Sharia Compliance
Property Handover
Utilities Transfer
Insurance
Tax and Zakat
Condition Precedent
Further Assurance
Termination
Survival
Indemnification
Real Estate
Property Development
Construction
Banking & Finance
Legal Services
Property Management
Insurance
Islamic Finance
Legal
Real Estate
Compliance
Property Management
Finance
Risk Management
Documentation
Islamic Banking
Real Estate Lawyer
Property Manager
Legal Counsel
Compliance Officer
Real Estate Agent
Property Developer
Mortgage Advisor
Islamic Finance Consultant
Title Officer
Property Evaluator
Notary Public
Legal Document Specialist
Real Estate Transaction Manager
Property Registration Officer
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