��������Ƶ

The Agreement To Sell (Real Estate) is a crucial legal instrument used in Saudi Arabian property transactions to formalize the transfer of real estate ownership. This document is essential when any party (individual or corporate) wishes to sell or purchase real estate property in Saudi Arabia, ensuring compliance with both Shariah Law principles and modern Saudi real estate regulations. The agreement captures all necessary elements of the transaction, including detailed property description, price, payment terms, and conditions for transfer. It's particularly important given Saudi Arabia's evolving real estate landscape under Vision 2030, which has introduced new regulations for property registration and foreign ownership. The document must be executed in accordance with local requirements, including proper authentication and registration with relevant authorities, and may need additional provisions depending on the property type (residential, commercial, or industrial) and buyer classification (local or foreign).

1. Parties: Identification of the Seller and Buyer with full legal names, addresses, and ID/CR numbers as per Saudi requirements

2. Background: Context of the sale 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, size, boundaries, and title deed details

5. Purchase Price: Agreed purchase price, payment schedule, and method of payment

6. Payment Terms: Detailed breakdown of payment structure, installments, and due dates

7. Title and Ownership: Confirmation of seller's ownership and guarantee of clear title

8. Completion Process: Steps for completing the sale, including registration requirements and timeline

9. Seller's Obligations: Responsibilities of the seller including property handover and documentation

10. Buyer's Obligations: Responsibilities of the buyer including payments and due diligence

11. Representations and Warranties: Statements and guarantees from both parties regarding the property and transaction

12. Property Condition: Current state of the property and any known defects or issues

13. Risk and Insurance: Transfer of risk and insurance requirements during the sale process

14. Default and Termination: Consequences of breach and conditions for agreement termination

15. Governing Law: Confirmation of Saudi Law and Shariah principles as governing law

16. Dispute Resolution: Process for resolving disputes including jurisdiction and arbitration

17. Notices: How formal communications between parties should be made

18. Execution: Signature requirements and execution process