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Simple Real Estate Purchase Agreement Form
"I need a Simple Real Estate Purchase Agreement Form for the sale of a commercial warehouse in Riyadh, with completion scheduled for March 2025, including specific provisions for existing tenant arrangements and property inspection requirements."
1. Parties: Identification of the seller and buyer with full legal names, addresses, and ID/registration numbers
2. Background: Context of the transaction and brief description of the property being sold
3. Definitions: Key terms used throughout the agreement defined for clarity
4. Property Description: Detailed legal description of the property including title deed number, location, boundaries, and total area
5. Purchase Price: Agreed purchase price and payment terms including deposit and completion payment details
6. Payment Terms: Schedule of payments, method of payment, and any conditions attached to payments
7. Completion: Details of the completion process, including timing and location of final transfer
8. Seller's Representations and Warranties: Seller's confirmations regarding property ownership, absence of encumbrances, and authority to sell
9. Buyer's Representations and Warranties: Buyer's confirmations regarding authority and ability to purchase
10. Property Transfer: Process and requirements for legal transfer of the property
11. Costs and Taxes: Allocation of transaction costs, fees, and applicable taxes between parties
12. Governing Law: Confirmation of Saudi law governance and Shariah compliance
13. Execution: Signature blocks and execution requirements
1. Conditions Precedent: Used when completion is subject to specific conditions being met, such as obtaining regulatory approvals or financing
2. Property Inspection: Include when there is a need to specify pre-completion inspection rights and procedures
3. Financing Arrangements: Required when purchase is subject to mortgage or other financing arrangements
4. Foreign Ownership Compliance: Include when buyer is non-Saudi to address specific foreign ownership requirements
5. Property Management During Transition: Used when there is a gap between agreement signing and completion requiring property management provisions
6. Existing Tenancies: Include when property is sold with existing tenants and associated leases
7. Development Rights: Required when property includes undeveloped land or development potential
8. Dispute Resolution: Optional detailed dispute resolution procedures beyond basic governing law clause
1. Property Details Schedule: Detailed technical description of the property including plans, boundaries, and specifications
2. Title Documents: Copies of title deed and other ownership documentation
3. Payment Schedule: Detailed breakdown of payment installments and timing if not paid in full at completion
4. Property Inventory: List of any fixtures, fittings, or furniture included in the sale
5. Required Consents: List of necessary governmental or regulatory approvals required for the transaction
6. Existing Encumbrances: Details of any existing mortgages, liens, or other encumbrances affecting the property
7. Property Compliance Certificates: Copies of relevant compliance certificates and permits
Authors
Real Estate
Construction
Banking & Finance
Legal Services
Property Development
Property Management
Investment & Asset Management
Professional Services
Housing
Commercial Property
Legal
Real Estate
Compliance
Property Management
Asset Management
Investment
Operations
Finance
Risk Management
Corporate Affairs
Real Estate Agent
Property Manager
Legal Counsel
Corporate Lawyer
Property Developer
Investment Manager
Asset Manager
Real Estate Broker
Compliance Officer
Transaction Manager
Real Estate Director
Property Consultant
Legal Director
Finance Manager
Real Estate Investment Analyst
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