Document background
The Owner Finance Real Estate Contract is essential for transactions in Saudi Arabia where traditional bank financing is not preferred or available. This document type is particularly useful for property sellers willing to finance the purchase directly while maintaining Shariah compliance. It must adhere to Saudi Arabian real estate laws, Islamic finance principles, and local registration requirements. The contract typically includes comprehensive details about the property, payment structure, ownership transfer conditions, and security arrangements. It's commonly used in both residential and commercial real estate transactions, requiring careful consideration of both civil law requirements and religious principles. The document must be properly registered with relevant authorities and often requires review by Shariah advisors to ensure compliance with Islamic finance principles.
