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The Real Estate Purchase And Sale Agreement is a fundamental legal document used in Saudi Arabia for property transactions between buyers and sellers. It serves as the primary instrument for documenting the terms and conditions of real estate transfers, ensuring compliance with Saudi law and Sharia principles. This document is essential for both residential and commercial property transactions, incorporating mandatory requirements for property registration, ownership transfer, and payment terms. It becomes particularly crucial when dealing with high-value properties, foreign ownership considerations, or complex commercial arrangements. The agreement must address specific Saudi regulatory requirements, including Real Estate Transaction Tax (RETT) obligations, municipal approvals, and proper registration with relevant authorities. It provides comprehensive protection for all parties by clearly defining their rights, obligations, and remedies while ensuring the transaction meets all legal and religious requirements under Saudi law.

1. Parties: Identification of the seller and purchaser, including full legal names, addresses, and official identification numbers

2. Background: Context of the transaction and brief description of the property being sold

3. Definitions: Definitions of key terms used throughout the agreement

4. Property Description: Detailed description of the property including location, boundaries, size, and title deed details

5. Purchase Price: The agreed purchase price and payment terms, including deposit requirements and payment schedule

6. Completion: Details of the completion process, timing, and requirements for transfer of ownership

7. Seller's Warranties: Warranties regarding property ownership, absence of encumbrances, and compliance with laws

8. Property Condition: Statement of the property's condition and any agreed repairs or modifications

9. Title and Registration: Process for title transfer and registration with relevant authorities

10. Costs and Taxes: Allocation of transaction costs, fees, and taxes between parties

11. Risk and Insurance: Transfer of risk and insurance requirements until completion

12. Default and Termination: Consequences of default and circumstances for termination

13. Notices: Process for serving notices between parties

14. Governing Law: Confirmation of Saudi law governance and Sharia compliance

15. Dispute Resolution: Process for resolving disputes between parties