{"id":30604,"date":"2020-12-17T11:15:53","date_gmt":"2020-12-17T08:15:53","guid":{"rendered":"https:\/\/amlak.net.sa\/?p=30604"},"modified":"2020-12-17T11:15:53","modified_gmt":"2020-12-17T08:15:53","slug":"%d8%a7%d9%84%d9%85%d9%83%d8%a7%d8%aa%d8%a8-%d8%a7%d9%84%d8%b9%d9%82%d8%a7%d8%b1%d9%8a%d8%a9-%d9%88%d8%b4%d8%b1%d9%88%d8%b7-%d8%a7%d9%84%d8%b9%d9%82%d9%88%d8%af","status":"publish","type":"post","link":"https:\/\/amlak.net.sa\/en\/30604\/","title":{"rendered":"Abdullah Al-Ateeq writes: My real estate experience in contract terms"},"content":{"rendered":"<p class=\"wp-block-paragraph\">Real estate agents vary in their knowledge of market trends <a href=\"https:\/\/amlak.net.sa\/en\/%d9%83%d9%8a%d9%81-%d8%aa%d9%86%d8%ac%d8%ad-%d9%81%d9%8a-%d8%aa%d8%b3%d9%88%d9%8a%d9%82-%d8%b9%d9%82%d8%a7%d8%b1%d9%83-%d8%9f-%d8%a5%d8%b9%d8%af%d8%a7%d8%af-%d8%a3-%d9%85%d9%86%d8%a7%d9%84\/\">and real estate marketing<\/a> Property management can be pursued either as a full-time profession or, on the other hand, by someone who works another job and is unable to <a href=\"https:\/\/www.tsweekonline.com\/%D9%85%D8%A7-%D9%87%D9%88-%D8%A7%D9%84%D8%AA%D8%B3%D9%88%D9%8A%D9%82-%D8%A7%D9%84%D8%B9%D9%82%D8%A7%D8%B1%D9%8A\/\">Customer Service<\/a> When he faces challenges in his morning work and isn\u2019t fully focused on searching for a property to rent, sell, or buy, he needs a full-time real estate agent who is dedicated to this field and has an open mind to keep up with new developments and valuable offers.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">&nbsp;I\u2019m going to tell you the story of someone who asked me to buy a commercial lot located on a prime street. I introduced him to the landowner, and an agreement was reached for the purchase. Although I generally prefer not to make purchases in installments\u2014especially for real estate, given the potential for changes\u2014the seller stipulated, in exchange for this offer, the payment of a late fee as a penalty clause in the amount of (100,000) riyals for the transfer of title to be completed four months after the date of purchase. The sale was notarized at the sales office, To my surprise, four months later, I received a call from the seller asking to visit the office, and he said he would bring the buyer with him. I had expected the transfer of title to have been completed, but he requested to cancel the sale on the grounds that he had not appeared at the appointed time for the transfer of title, which was on 1\/4\/1436 AH<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The buyer was traveling outside the Kingdom, and his return coincided with the date of the title transfer; he landed at Bahrain International Airport, where he was contacted and informed that the sale had been canceled due to his 24-hour delay, In addition, the penalty clause specified in the sales contract was enforced, resulting in a deduction of 100,000 riyals from the down payment of 400,000 riyals, as the value of the land was 800,000 riyals. I asked him to reconsider this matter, but the request was denied. Relatives of the seller attempted to mediate, but to no avail. Subsequently, the 100,000 riyals were deducted, and the buyer bore the cost of the transaction.\u00a0 Twelve months after this incident, the price of the site jumped from 1,000 to 3,000 riyals, as the seller had built commercial stores and apartments on the site, further increasing its value. .<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The purpose of sharing this story is to emphasize that understanding the terms of contracts and having them properly reviewed by a legal professional can protect you from falling into a trap.<\/p>","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading time: <\/span> <span class=\"rt-time\"> 2<\/span> <span class=\"rt-label rt-postfix\">Minutes<\/span><\/span>Real estate agents vary in their familiarity with market trends, real estate marketing, and property management in terms of their full-time commitment to the profession; while others who work in real estate may hold a day job, making it difficult for them to serve clients due to the demands of their morning work. As a result, they cannot devote sufficient attention to searching for properties to rent, sell, or buy, and thus require a full-time agent\u2026 <a title=\"Abdullah Al-Ateeq writes: My real estate experience in contract terms\" class=\"read-more\" href=\"https:\/\/amlak.net.sa\/en\/30604\/\" aria-label=\"Read more about Abdullah Al-Ateeq writes: An Real Estate Professional\u2019s Experience with Contract Terms\">Read more<\/a><\/p>","protected":false},"author":10,"featured_media":30611,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_seopress_titles_title":"\u0627\u0644\u0645\u0643\u0627\u062a\u0628 \u0627\u0644\u0639\u0642\u0627\u0631\u064a\u0629 - \u0639\u0628\u062f\u0627\u0644\u0644\u0647 \u0627\u0644\u0639\u062a\u064a\u0642 \u064a\u0643\u062a\u0628: \u062a\u062c\u0631\u0628\u0629 \u0639\u0642\u0627\u0631\u064a \u0641\u064a \u0634\u0631\u0648\u0637 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