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The Residential Purchase Agreement is a fundamental legal document used in Saudi Arabian real estate transactions for the sale and purchase of residential properties. It is essential for documenting the transfer of residential property ownership while ensuring compliance with Saudi civil law, Islamic Sharia principles, and local real estate regulations. This agreement is typically used when individuals or entities wish to purchase residential properties in Saudi Arabia, whether they are completed properties or off-plan purchases. The document includes crucial elements such as property details, price and payment terms, conditions for completion, and various warranties and undertakings. It must account for specific Saudi Arabian requirements including property registration procedures, municipality approvals, and where applicable, foreign ownership restrictions. The agreement serves as the primary reference document for the transaction and may be required by various authorities, financial institutions, and property registries to process the property transfer.

1. Parties: Identification of the seller and buyer with full legal names, national ID numbers/Iqama numbers, and contact details

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

3. Definitions: Key terms used throughout the agreement, including technical and legal terminology

4. Property Details: Comprehensive description of the property, including location, dimensions, deed number, and registration details

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

6. Payment Terms: Detailed breakdown of payment structure, timing, and method of payment in compliance with Sharia principles

7. Completion: Process and requirements for completing the sale, including registration requirements and timing

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

9. Property Inspection: Buyer's rights and process for property inspection before completion

10. Transfer of Ownership: Process and requirements for legal transfer of property ownership

11. Taxes and Fees: Allocation of responsibility for various taxes, registration fees, and other transaction costs

12. Default and Termination: Consequences of default by either party and conditions for termination

13. Governing Law: Confirmation of Saudi law and Sharia principles as governing law

14. Execution: Signature requirements and execution process