One of the real estate financing programs in the form of murabahah that provides the customer with the opportunity to obtain personal financing and real estate financing at the same time. Where the amount of real estate financing is calculated based on the existing obligations of the customer and with a deduction rate not exceeding 65% of the customer's monthly income for all obligations, it is possible to obtain a real estate finance of up to 90% of the property value from commercial banks or financing companies licensed to provide real estate financing products in the Kingdom. According to the laws and regulations for real estate financing and the conditions that qualify for the real estate product. These may include the minimum monthly salary or salary transfer. fffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffffff
1. Services Provided 1.1. Property Listings: The brokerage agency will list properties for sale or rent on behalf of property owners in compliance with Saudi real estate laws. 1.2. Client Representation: Represent buyers or tenants in real estate transactions according to the client's requirements. 1.3. Market Analysis: Provide market analysis and insights in accordance with the prevailing real estate market conditions in Saudi Arabia. 1.4. Negotiation: Engage in negotiations adhering to Saudi real estate laws and regulations. 1.5. Legal Compliance: Ensure all transactions comply with the real estate laws and regulations of Saudi Arabia. 2. Responsibilities 2.1. Agency: The brokerage agency will act in the best interests of the client, following the principles of fairness and transparency. 2.2. Disclosure: Disclose any conflicts of interest that may arise during transactions promptly. 2.3. Communication: Maintain open and clear communication with clients, providing updates and information relevant to the transactions. 2.4. Confidentiality: Respect the confidentiality of client information and transactions as per Saudi privacy laws. 3. Fees and Payments 3.1. Commission: The brokerage agency will be entitled to a commission on successful real estate transactions as agreed upon with the client, conforming to the prevailing industry standards in Saudi Arabia. 3.2. Expenses: Clients will be responsible for any additional expenses incurred during the transaction process unless otherwise agreed upon in writing. 4. Liabilities 4.1. Accuracy: The brokerage agency will endeavor to provide accurate information but does not guarantee the accuracy of all property details. 4.2. Indemnity: Clients agree to indemnify and hold the brokerage agency harmless from any liabilities arising from the transaction, subject to Saudi laws. 4.3. Third Parties: The brokerage agency is not liable for the actions of third parties involved in the transaction, except where required by Saudi law. 5. Termination 5.1. Notice: Either party may terminate the agreement with written notice as per the termination provisions outlined in the agreement. 5.2. Outstanding Obligations: Termination does not relieve either party of any outstanding obligations specified in this agreement. 6. Governing Law 6.1. Jurisdiction: Any disputes arising from this agreement will be governed by the laws of the Kingdom of Saudi Arabia. By engaging our services, you acknowledge and agree to these terms and conditions. For any questions or clarifications, please contact us.
It is a financing real estate product that allows the borrower to obtain money in exchange for mortgaging the property for a certain period to the funder as a guarantee, until the agreed installments are fully paid. That is, in the event that the borrower fails to pay, the lender (financing entity) has the right to take the necessary measures to acquire the property. In this context, the financing agencies were obligated to document mortgages according to the reality of their contracts and to stop the procedures related to the transfer of ownership of the property instead of mortgaging it. It also enabled the borrower to write the property in his name with his mortgage to the banks (in the event that the financing formula is profitable) without disposing of the property except when returning to the bank
The ready-made unit purchase product is a product intended for customers wishing to obtain real estate financing to purchase a residential ready-to-live property in the form of murabahah means that the financing authority buys the property at its actual value and sells it to the customer with a higher deferred value that includes the profit margin, which is a product approved by the Sharia Board
