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The Real Estate Purchase Agreement With Seller Financing is a specialized legal document used in Saudi Arabia when traditional bank financing is not preferred or available for property purchases. This agreement combines elements of both a standard property sale contract and a financing agreement, allowing sellers to act as financiers while maintaining security interests in the property. It is particularly relevant in the Saudi Arabian market where Islamic finance principles must be observed, and specific real estate regulations govern property transfers and financing arrangements. The document typically includes detailed terms about the property, purchase price, down payment, financing schedule, security arrangements, and ownership transfer conditions. It's essential for transactions where buyers seek alternative financing options and sellers are willing to accept periodic payments over time, all while ensuring compliance with Saudi law and Sharia principles.

1. Parties: Identification of buyer and seller with complete legal names, addresses, and national ID/CR numbers

2. Background: Context of the transaction, including brief property description and parties' intention to enter into seller financing arrangement

3. Definitions: Key terms used throughout the agreement, including Property, Purchase Price, Down Payment, Financed Amount, and Payment Schedule

4. Sale and Purchase: Core transaction terms including property details, purchase price, and transfer commitments

5. Purchase Price and Payment Terms: Breakdown of purchase price, down payment, financed amount, payment schedule, and financing terms

6. Security and Mortgage: Details of the security arrangement, including mortgage terms and registration requirements

7. Property Transfer and Registration: Process and requirements for transferring property ownership and registering the mortgage

8. Seller's Representations and Warranties: Seller's declarations regarding property ownership, condition, and encumbrances

9. Buyer's Representations and Warranties: Buyer's declarations regarding financial capacity and understanding of obligations

10. Default and Remedies: Consequences of payment default and available remedies for both parties

11. Insurance and Maintenance: Requirements for property insurance and maintenance during the financing period

12. Governing Law and Jurisdiction: Specification of Saudi law application and jurisdiction for disputes

13. Notices: Process and requirements for formal communications between parties

14. General Provisions: Standard contract clauses including amendments, severability, and entire agreement