For Sale By Owner Property Contract Template for Saudi Arabia

The For Sale By Owner Property Contract is a crucial legal instrument in Saudi Arabia for property owners who choose to sell their property directly without full real estate agency services. This document is designed to comply with both Islamic Sharia principles and Saudi civil law requirements, including the Real Estate Registration Law and related regulations. It provides a comprehensive framework for documenting property sales, including detailed property descriptions, payment terms, warranties, and transfer procedures. The contract is particularly relevant in today's market where many property owners prefer direct transactions to reduce costs while maintaining legal compliance. It includes all necessary provisions to protect both parties' interests, ensure proper property transfer registration, and address specific Saudi Arabian regulatory requirements such as municipality approvals and, where applicable, foreign ownership restrictions.

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: Context of the sale, including brief property description and seller's confirmation of ownership rights

3. Definitions: Key terms used throughout the agreement, including property-specific terminology and legal concepts

4. Property Details: Comprehensive description of the property, including title deed number, location, boundaries, and total area

5. Purchase Price: Agreed purchase price, payment terms, and method of payment in compliance with Sharia principles

6. Payment Schedule: Detailed breakdown of payment installations, dates, and payment verification process

7. Property Transfer: Process and timing of transferring property ownership through official channels

8. Seller's Warranties: Seller's guarantees regarding property ownership, absence of disputes, and property condition

9. Buyer's Obligations: Buyer's commitments regarding payment, documentation, and compliance with transfer requirements

10. Property Handover: Conditions and process for physical property handover, including utilities transfer

11. Default and Remedies: Consequences and remedies for breach of contract by either party

12. Governing Law: Confirmation of Saudi law application and Sharia compliance

13. Notices: Process for formal communications between parties

14. Execution: Signature requirements and execution process