The Contract For Selling A House Privately is a crucial legal document used in Saudi Arabia for residential property transactions between private parties. This agreement is designed to comply with Saudi Arabian real estate laws and Sharia principles, providing a comprehensive framework for property transfers. It is typically used when parties wish to conduct a direct sale without full real estate agency involvement, though professional legal guidance is still recommended. The document includes essential elements such as property specifications, payment terms, warranties, and transfer procedures, all structured to meet the requirements of the Saudi Ministry of Justice and real estate authorities. It's particularly relevant in the context of Saudi Arabia's evolving real estate market and recent regulatory changes affecting private property transactions.
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1. Parties: Identification of the seller and buyer with full legal names, national ID numbers, and contact details
2. Background: Brief context of the sale and confirmation that the seller is the legal owner of the property
3. Definitions: Key terms used throughout the agreement including Property, Completion Date, Purchase Price, etc.
4. Property Details: Comprehensive description of the property including title deed number, location, size, and boundaries
5. Purchase Price: Agreed purchase price and payment terms in compliance with Sharia law
6. Payment Terms: Schedule of payments, deposit amount, and completion payment details
7. Completion Requirements: Conditions to be met before completion, including documentation and registrations
8. Seller's Warranties: Warranties regarding property ownership, condition, and absence of encumbrances
9. Property Transfer: Process and requirements for legal transfer of the property
10. Costs and Taxes: Allocation of transaction costs, taxes, and fees between parties
11. Governing Law: Confirmation of Saudi law and Sharia principles as governing law
1. Condition of Property: Detailed description of property condition, used when selling property as-is or with known defects
2. Fixtures and Fittings: List of items included/excluded in the sale, used when specific items need to be clarified
3. Vacant Possession: Terms regarding current occupancy and delivery of vacant possession, used when property is tenanted
4. Due Diligence Period: Terms for buyer's inspection period, used when buyer requires time for property inspection
5. Financing Conditions: Conditions related to buyer's financing arrangements, used when purchase depends on financing
6. Defect Resolution: Process for addressing discovered defects, used when property requires repairs
7. Multiple Owners: Additional terms for multiple sellers/buyers, used when property has multiple owners
1. Property Title Deed: Copy of official property ownership documentation
2. Property Plans: Official plans showing property boundaries and construction details
3. Inventory List: Detailed list of fixtures, fittings, and items included in the sale
4. Property Photographs: Documentation of property condition at time of contract
5. Payment Schedule: Detailed breakdown of payment installments and dates
6. Required Certificates: Copies of building permits, certificates, and regulatory approvals
7. Property Inspection Report: Technical report on property condition if available
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Legal Services
Banking & Finance
Construction
Property Development
Property Management
Islamic Finance
Professional Services
Residential Property
Relevant Teams
Legal
Real Estate
Compliance
Property Management
Documentation
Advisory Services
Transaction Processing
Risk Management
Contract Administration
Relevant Roles
Real Estate Lawyer
Property Agent
Legal Counsel
Compliance Officer
Real Estate Manager
Property Developer
Title Officer
Real Estate Consultant
Islamic Finance Advisor
Property Valuation Specialist
Contract Manager
Legal Documentation Specialist
Real Estate Transaction Manager
Property Rights Specialist
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