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The Residential Real Estate Purchase Contract is a fundamental legal document used in Saudi Arabia for facilitating the transfer of residential property ownership. This contract type is essential for any residential property transaction in the Kingdom, whether involving individual or corporate buyers and sellers. It must comply with Saudi Arabia's property laws, Shariah principles, and regulations set by the Real Estate General Authority (REGA). The document includes crucial elements such as property details, payment terms, warranties, and completion requirements, while ensuring adherence to local registration and documentation requirements. It's particularly important as it serves as the primary record of the transaction terms and is required for official property registration with Saudi authorities. The contract accounts for specific Saudi Arabian requirements such as title deed verification, municipality approvals, and proper authentication by authorized notaries.

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

2. Background: Context of the sale and confirmation that the property is legally owned by the seller and eligible for transfer

3. Definitions: Key terms used throughout the agreement, including property-specific terminology and relevant legal concepts under Saudi law

4. Property Details: Comprehensive description of the property including title deed number, location, boundaries, size, and any registered encumbrances

5. Purchase Price: Agreed purchase price, payment schedule, and method of payment in compliance with Shariah principles

6. Payment Terms: Detailed breakdown of payment structure, including deposit, installments, and final payment requirements

7. Completion Requirements: Conditions and documentation required for completing the sale, including registration requirements

8. Seller's Warranties: Warranties regarding property ownership, absence of disputes, and compliance with zoning laws

9. Property Handover: Terms and conditions for physical possession transfer and utilities transfer

10. Registration and Transfer: Process and requirements for official property registration with relevant authorities

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

12. Default and Termination: Consequences of breach and contract termination procedures

13. Governing Law and Jurisdiction: Confirmation of Saudi law application and competent courts for dispute resolution