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Wholesale Real Estate Contract
"I need a Wholesale Real Estate Contract for a commercial warehouse property in Riyadh, Saudi Arabia, with assignment rights to multiple potential buyers and a requirement for Shariah-compliant financing, to be completed by March 2025."
1. Parties: Identification of all parties involved, including the original property owner, wholesaler, and end buyer
2. Background: Context of the transaction, including property overview and transaction purpose
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Details: Comprehensive description of the property, including legal description and registration details
5. Purchase Price and Payment Terms: Details of the purchase price, payment schedule, and payment methods
6. Assignment Rights: Terms governing the wholesaler's right to assign the contract to end buyers
7. Due Diligence: Requirements and timeframes for property inspection and document review
8. Closing and Transfer: Procedures and requirements for closing the transaction and transferring ownership
9. Representations and Warranties: Statements of fact and guarantees by each party regarding the property and transaction
10. Shariah Compliance: Provisions ensuring the transaction complies with Islamic law principles
11. Default and Remedies: Consequences of breach and available remedies
12. Governing Law and Jurisdiction: Specification of Saudi law application and dispute resolution procedures
1. Financing Contingency: Used when the transaction depends on obtaining specific financing arrangements
2. Property Management: Required when interim property management arrangements are needed between contract and closing
3. Multiple Buyer Provisions: Included when multiple potential end buyers might be involved
4. Foreign Ownership Provisions: Required when non-Saudi parties are involved in the transaction
5. Broker Provisions: Included when real estate brokers are involved in the transaction
6. Environmental Conditions: Required for properties with potential environmental concerns or requirements
7. Development Rights: Included when the property has specific development potential or restrictions
8. Tenant Rights: Required when the property is currently leased or has existing tenants
1. Property Description Schedule: Detailed legal and physical description of the property
2. Title Documents: Copies of title deed and related ownership documents
3. Due Diligence Checklist: List of required documents and inspections
4. Payment Schedule: Detailed breakdown of payment terms and dates
5. Property Condition Report: Current condition assessment and any identified issues
6. Regulatory Approvals: Copies of relevant permits and governmental approvals
7. Property Plans and Drawings: Technical drawings, floor plans, and site plans
8. Existing Encumbrances: List of any existing liens, mortgages, or other encumbrances
Authors
Real Estate
Commercial Property
Property Development
Construction
Real Estate Investment
Property Management
Legal Services
Banking and Finance
Insurance
Urban Development
Legal
Real Estate
Compliance
Risk Management
Property Management
Investment
Operations
Finance
Due Diligence
Business Development
Real Estate Investment Manager
Property Developer
Real Estate Broker
Legal Counsel
Compliance Officer
Real Estate Analyst
Property Acquisition Manager
Contract Administrator
Real Estate Portfolio Manager
Investment Director
Property Valuation Specialist
Real Estate Operations Manager
Risk Management Officer
Transaction Manager
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