{"id":23885,"date":"2019-01-27T11:23:14","date_gmt":"2019-01-27T08:23:14","guid":{"rendered":"https:\/\/www.amlak.net.sa\/home\/?p=23885"},"modified":"2019-01-27T11:23:14","modified_gmt":"2019-01-27T08:23:14","slug":"%d9%83%d9%8a%d9%81-%d8%a3%d9%85%d8%a7%d8%b1%d8%b3-%d8%a7%d9%84%d8%a8%d9%8a%d8%b9-%d8%b9%d9%84%d9%89-%d8%a7%d9%84%d8%ae%d8%a7%d8%b1%d8%b7%d8%a9","status":"publish","type":"post","link":"https:\/\/amlak.net.sa\/en\/23885\/","title":{"rendered":"Wafi approves the unified guiding contract to regulate the relationship between all parties"},"content":{"rendered":"

Recognized Off-plan Sales and Leasing Committee<\/a> \u201cWafi\u201d Standardized Indicative Contract<\/a> It aims to regulate the contractual relationship between buyers of real estate units in off-plan sales projects (under construction) and the real estate developers implementing those projects, and to clarify the obligations and rights of all parties.<\/p>\n\n\n\n

Nayef bin Nawaf Al-Sharif, Secretary-General of the Off-Map Sale Committee, explained that the committee approved the contract after giving the opportunity to comment on the draft contract and its clauses and paragraphs before its approval with the participation of real estate developers, buyers and those interested in the real estate sector and its regulations.<\/p>\n\n\n\n

According to Al-Sharif, the committee's secretariat always works in partnership with those involved in the off-plan sales activity, including real estate developers, legal, engineering and financial consulting offices, as well as buyers in these projects to come up with a formula and decisions that suit the requirements of all parties to the project, while always striving not to violate the regulations for the sale and rental of real estate units on the map issued by the decision of the Council of Ministers, stressing that there will be no relentlessness in applying the necessary laws to violators of off-plan sales regulations, which are practicing this type of real estate development without obtaining the necessary license.<\/p>\n\n\n\n

 Off-plan sales<\/strong><\/h3>\n\n\n\n

It is worth mentioning that the \u201cWafi\u201d off-plan sale and leasing program of the Ministry of Housing works to regulate the activity of selling or leasing real estate units, regardless of their purpose or method of development before or during the development or construction phase, and obliges real estate developers to implement according to the time plan for each project according to the approved models and specifications, and its role is to issue a license to sell or lease any real estate units on the map, regardless of their purpose or method of development or construction of various types (residential, commercial, investment, office, service, industrial and tourism), off-plan real estate marketing license, off-plan raw land sale license, off-plan internal real estate marketing license, off-plan real estate units display license in external exhibitions, and off-plan internal real estate marketing license against receipt of booking amounts, Wafi program monitors and controls any real estate project offered on the off-plan sales system without obtaining one of these licenses.<\/p>\n\n\n\n

Points about off-plan sales<\/strong><\/h3>\n\n\n\n