Offer To Purchase Cancellation Letter Template for Saudi Arabia

The Offer To Purchase Cancellation Letter is a critical document in Saudi Arabian real estate transactions, used when a potential buyer needs to formally withdraw their offer to purchase property. This document is typically employed when circumstances change after an initial offer has been made but before the final purchase agreement is executed. It must be drafted in accordance with Saudi Arabian law, including both civil law requirements and Sharia principles. The letter should clearly identify the property in question, reference the original offer, state the intention to cancel, and address any deposit return arrangements. Common situations requiring this document include discovery of property issues during due diligence, failure to secure financing, or changes in the buyer's circumstances. The letter serves as legal protection for both parties and helps prevent future disputes regarding the cancelled transaction.

1. Letter Header: Date, recipient's full name and address, and reference number of original offer

2. Subject Line: Clear indication that this is a cancellation notice for a specific property purchase offer

3. Original Offer Reference: Details of the original offer including date, property description, and offer amount

4. Cancellation Statement: Clear and unambiguous statement of cancellation, citing relevant contractual or legal provisions

5. Reason for Cancellation: Brief explanation of the grounds for cancellation (if applicable)

6. Deposit Handling: Statement regarding the return of any deposits or earnest money

7. Closing: Formal closing, signature block, and contact information