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Private Real Estate Sale Contract
"I need a Private Real Estate Sale Contract for selling my residential villa in Riyadh to a local buyer, with completion scheduled for March 2025 and payment to be made in three installments."
1. Parties: Identification of the seller and buyer with full legal names, addresses, and identification numbers as per Saudi requirements
2. Background: Context of the sale and brief description of the property being transferred
3. Definitions: Key terms used throughout the agreement including Property, Completion Date, Purchase Price, and other relevant terms
4. Sale and Purchase: Core agreement to sell and purchase the property, including the exact description of the property and consideration
5. Purchase Price: Detailed breakdown of the purchase price, payment schedule, and payment methods in compliance with Shariah principles
6. Property Title and Registration: Confirmation of clear title and process for property registration transfer at the relevant municipality
7. Completion: Requirements and process for completion of the sale, including documentation and registration requirements
8. Seller's Warranties: Warranties regarding property ownership, absence of encumbrances, and compliance with regulations
9. Buyer's Warranties: Warranties regarding ability to purchase and compliance with relevant laws
10. Handover: Process and timing for physical handover of the property and transfer of utilities
11. Taxes and Fees: Allocation of responsibility for various taxes and fees including Real Estate Transaction Tax
12. Governing Law: Confirmation of Saudi law and Shariah principles as governing law
13. Execution: Signature blocks and execution requirements
1. Mortgage Provisions: Required if the purchase involves mortgage financing, including coordination with financial institutions
2. Foreign Ownership Compliance: Required for non-Saudi buyers, including specific compliance requirements with foreign ownership laws
3. Condition Precedents: Include if completion is subject to specific conditions such as regulatory approvals or third-party consents
4. Property Management: Include if there are ongoing property management arrangements that need to be transferred
5. Existing Tenancies: Required if the property is sold with existing tenants and lease agreements
6. Development Obligations: Include if the property involves undeveloped land with development requirements
7. Dispute Resolution: Optional detailed dispute resolution process, including potential arbitration provisions
1. Property Details: Detailed description of the property including title deed number, location, boundaries, and area
2. Property Plan: Official property plans and drawings from the municipality
3. Title Documents: Copies of title deed and other ownership documents
4. Payment Schedule: Detailed breakdown of payment installments and timing
5. Property Inspection Report: Technical report on property condition and any identified issues
6. Permits and Certificates: Copies of relevant permits, certificates, and regulatory approvals
7. Utility Accounts: List of utility accounts and status of payments
8. Existing Contracts: Copies of relevant contracts affecting the property (if any)
Authors
Property
Title Deed
Purchase Price
Completion Date
Completion
Business Day
Effective Date
Encumbrances
Property Documents
Due Diligence Period
Municipality
Notary Public
Real Estate Transaction Tax
Title Registration Office
Handover Date
Handover Protocol
Seller's Warranties
Buyer's Warranties
Deposit
Force Majeure
Permitted Use
Property Plan
Registration Fees
Relevant Authority
Shariah Principles
Transfer Date
Utility Services
VAT
Working Hours
Fixtures and Fittings
Property Rights
Common Areas
Building Regulations
Zoning Requirements
Material Adverse Change
Outstanding Liabilities
Payment Schedule
Possession
Registration Procedures
Property Description
Purchase Price
Payment Terms
Title Transfer
Completion
Property Registration
Warranties and Representations
Due Diligence
Handover
Seller's Obligations
Buyer's Obligations
Property Condition
Encumbrances
Tax Obligations
Municipality Compliance
Shariah Compliance
Registration Requirements
Risk and Insurance
Force Majeure
Termination
Default
Remedies
Notices
Entire Agreement
Amendment
Severability
Governing Law
Dispute Resolution
Costs and Expenses
Further Assurance
Assignment
Third Party Rights
Counterparts
Language
Property Access
Utility Transfer
Indemnification
Real Estate
Construction
Banking & Finance
Legal Services
Property Development
Investment Management
Hospitality
Retail
Professional Services
Islamic Finance
Legal
Real Estate
Compliance
Property Management
Investment
Operations
Risk Management
Corporate Secretariat
Business Development
Facilities Management
Real Estate Manager
Property Lawyer
Legal Counsel
Compliance Officer
Real Estate Broker
Property Developer
Investment Manager
Contract Manager
Real Estate Agent
Risk Manager
Company Secretary
Property Portfolio Manager
Acquisition Manager
Real Estate Investment Analyst
Chief Legal Officer
Property Operations Manager
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