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Real Estate Sales Contract
"I need a Real Estate Sales Contract for selling my commercial warehouse in Riyadh Industrial City to a local Saudi company, with completion scheduled for March 2025 and payment to be made in two installments."
1. Parties: Identification of seller and purchaser with full legal names and details as per official documents
2. Background: Context of the sale and brief description of the property being transferred
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Details: Comprehensive description of the property including location, boundaries, and title deed details
5. Purchase Price and Payment Terms: Agreed purchase price, payment schedule, and method of payment
6. Completion and Transfer of Ownership: Process and requirements for completing the sale and transferring ownership
7. Seller's Warranties: Warranties regarding property ownership, absence of encumbrances, and legal status
8. Property Condition: Current condition of the property and any agreed repairs or modifications
9. Registration and Documentation: Requirements for official registration and documentation of the sale
10. Costs and Taxes: Allocation of transaction costs, fees, and applicable taxes
11. Governing Law and Jurisdiction: Confirmation of Saudi law application and dispute resolution process
12. Notices: Process for formal communications between parties
13. Execution: Signature requirements and execution process
1. Foreign Ownership Compliance: Required when purchaser is non-Saudi, detailing compliance with foreign ownership regulations
2. Financing Arrangements: Included when purchase involves bank financing or installment payments
3. Property Management Transition: Required for properties with existing tenants or management arrangements
4. Due Diligence Conditions: Included when sale is subject to due diligence investigations
5. Development Obligations: Required for undeveloped land with development requirements
6. Shariah Compliance Declaration: Specific declaration of compliance with Islamic principles when required by parties
7. Broker Arrangements: Included when real estate brokers are involved in the transaction
1. Property Description Schedule: Detailed technical description of the property including plans and specifications
2. Title Documents: Copies of title deed and other ownership documents
3. Payment Schedule: Detailed breakdown of payment installments and dates if applicable
4. Property Inspection Report: Report detailing current condition and any defects
5. Inventory Schedule: List of any fixtures, fittings or furniture included in the sale
6. Required Permits: Copies of relevant permits and certificates
7. Outstanding Liabilities: Details of any existing liabilities or obligations attached to the property
Authors
Real Estate
Construction
Banking and Finance
Legal Services
Property Development
Investment and Asset Management
Hospitality
Retail
Industrial
Commercial Property
Legal
Real Estate
Compliance
Finance
Business Development
Risk Management
Property Management
Investment
Operations
Corporate Affairs
Real Estate Manager
Legal Counsel
Property Developer
Investment Manager
Compliance Officer
Real Estate Broker
Property Manager
Contract Manager
Business Development Manager
Finance Director
Chief Executive Officer
Real Estate Attorney
Property Acquisition Manager
Asset Manager
Risk Manager
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