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How To Find, Evaluate, and Buy Property In Saudi Arabia

BusinessHow To Find, Evaluate, and Buy Property In Saudi Arabia

There are several options available to a prospective buyer in Finding, Evaluating, and Buying Property In Saudi Arabia. The following are the options:

  • Meet Individual Sellers through Ads or Mutual Acquaintance
  • Estate Agents
  • Inquire At Property Development Companies
  • Online Search

Meeting Individual Sellers

You can meet or speak to homeowners in the city or neighborhood where you wish to purchase your house. Ask them for recommendations, and it is likely they will know someone wanting to sell their land or residential property

Estate Agents and Brokers

You could visit a real estate agent’s office. Estate Agents are called Wakaala Al Aqaar in Arabic or Estate Agent Offices.

Each city and town has multiple Wakaala Al Aqaar. The estate agents will have a property listing and provide legal and negotiation services.

These estate agents will provide the sales agreement document and help with the process of registering the title of your new property to your name.

Property and Estate Development Companies

Visit the sales offices of estate development companies and arrange a visit to view the ‘show houses.’ The salesperson assigned to you will provide all information regarding the home purchase.

Search the popular websites for your land, home, or commercial property purchase.

Building Survey, Inspection, and Value Evaluation

The Shaikh Al Aqar office Evaluates Land and Property.

In Saudi Arabia, property owners and estate agents don’t determine the price of private or commercial property or land.  

This is the job of the office of the Property Shaikh or Shaikh Al Aqar

People in the business of buying and selling the property know its location and the services provided. 

Property Inspection and Survey 

You can invite Shaikh Al Aqar to survey and inspect a property you wish to buy.

Shaikh Al Aqar will give a written evaluation detailing the property’s location, size, type, and condition of the property. Shaikh Al Aqar will also describe any costly renovations or improvements that could affect the property’s value in the future. 

Getting The Property Valued

In his written evaluation, Shaikh Al Aqar’s written assessment will also give a reasonable price for the property. 

The report will have two prices, the current market value of the villa or the apartment and a separate price of the property’s land. 

The survey report costs anywhere from SR 500 and SR 1,000 and could be higher for large-sized properties.

Retrospective Surveys 

In case you have already purchased your property, Shaikh Al Aqar will still survey the property and report the findings.

After a survey report, if you feel you have paid the price higher than the property is worth or encounter unforeseen problems with the purchase agreement, you can use the report as a legal recourse to change or revise the original purchase agreement. 

Saudis trust and respect Shaikh Al Aqar’s property evaluation decisions. The Shaikh office is answerable both to the government and the people buying the property. The price evaluations are fair and accurate.