The Simple Offer To Purchase Land Form is a fundamental document in Saudi Arabian real estate transactions, used when a potential buyer wishes to formalize their interest in purchasing a land property. This document serves as the initial step in the property acquisition process, setting out the buyer's proposed terms and conditions for the purchase. It is designed to comply with Saudi Arabian real estate laws, regulations, and Shariah principles, while protecting both parties' interests. The form includes essential elements such as property identification, price, payment terms, due diligence provisions, and conditions for closing. It is particularly important in Saudi Arabia where real estate transactions must follow specific legal procedures and documentation requirements, including proper registration with relevant authorities. The document can be used for various types of land purchases, from residential to commercial properties, and can be adapted to accommodate both local and foreign buyers, subject to applicable ownership restrictions.
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1. Parties: Identification of the potential buyer (offeror) and property owner (offeree), including full legal names, national ID numbers/Iqama numbers, and contact details
2. Property Description: Detailed description of the land including title deed number, plot number, location, dimensions, and total area
3. Purchase Price: The offered purchase price in Saudi Riyals (both in numbers and words) and payment terms
4. Earnest Money: Amount of earnest money deposit, payment method, and handling conditions
5. Due Diligence Period: Timeframe for conducting property investigations, title searches, and obtaining necessary approvals
6. Closing Date: Proposed date for completing the transaction and transfer of ownership
7. Property Transfer: Process and requirements for legal transfer of the property through appropriate authorities
8. Offer Expiration: Date and time when the offer expires if not accepted by the seller
9. Acceptance: Terms and method for seller's acceptance of the offer
1. Financing Contingency: Terms related to obtaining necessary financing, including Islamic finance requirements - include if buyer requires financing
2. Property Inspection: Rights and procedures for property inspection - include if buyer wants inspection rights
3. Municipal Approval: Contingency for obtaining necessary municipal approvals - include for undeveloped land or land requiring zoning changes
4. Foreign Ownership Approval: Requirements for obtaining foreign ownership approval - include if buyer is non-Saudi
5. Broker Information: Details of real estate brokers involved - include if transaction involves brokers
6. Property Vacant Possession: Terms regarding current occupancy and vacancy requirements - include if property is currently occupied
1. Property Details Schedule: Detailed technical description of the property including boundaries, coordinates, and any easements
2. Title Deed Copy: Copy of current title deed showing ownership and any encumbrances
3. Payment Schedule: Detailed breakdown of payment terms and installments if applicable
4. Property Photos: Recent photographs of the property and its boundaries
5. Site Plan: Official site plan showing property location and dimensions
Relevant legal definitions
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Relevant Industries
Real Estate
Construction
Property Development
Agriculture
Industrial Development
Commercial Property
Residential Property
Hospitality
Retail
Infrastructure Development
Islamic Banking & Finance
Relevant Teams
Legal
Real Estate
Property Development
Compliance
Investment
Finance
Operations
Risk Management
Business Development
Corporate Affairs
Relevant Roles
Real Estate Manager
Property Development Director
Legal Counsel
Investment Manager
Land Acquisition Specialist
Real Estate Broker
Property Lawyer
Compliance Officer
Real Estate Investment Analyst
Development Project Manager
Chief Real Estate Officer
Property Portfolio Manager
Real Estate Transaction Coordinator
Islamic Finance Specialist
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