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Commercial Property Sale Contract

Commercial Property Sale Contract Template for Pakistan

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Key Requirements PROMPT example:

Commercial Property Sale Contract

"I need a Commercial Property Sale Contract for a retail space in Lahore's commercial district, with existing tenants who will remain after the sale, including provisions for transfer of lease agreements and security deposits."

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Document background
The Commercial Property Sale Contract is a crucial legal instrument used in Pakistan for transferring ownership of commercial real estate properties. This document is essential when businesses or individuals are engaging in the purchase or sale of commercial properties such as office buildings, retail spaces, industrial facilities, or mixed-use developments. The contract must comply with Pakistani property law, including the Transfer of Property Act 1882, Registration Act 1908, and relevant provincial regulations. It contains detailed provisions covering property description, sale price, payment terms, warranties, and completion requirements. The document is particularly important in Pakistan's growing commercial real estate market, where proper documentation and legal compliance are crucial for protecting both buyers' and sellers' interests and ensuring smooth property transfers.
Suggested Sections

1. Parties: Detailed identification of the seller and purchaser, including registration details for companies or CNIC for individuals

2. Background: Context of the sale, brief description of the property, and purpose of the agreement

3. Definitions: Definitions of key terms used throughout the agreement

4. Property Description: Comprehensive description of the commercial property, including exact location, boundaries, and built-up area

5. Sale Price and Payment Terms: Agreed purchase price, payment schedule, and method of payment

6. Conditions Precedent: Conditions that must be satisfied before completion of the sale

7. Seller's Representations and Warranties: Seller's declarations regarding property title, encumbrances, and compliance with laws

8. Buyer's Representations and Warranties: Buyer's declarations regarding financial capacity and compliance with laws

9. Completion: Process and requirements for completing the sale, including documentation and registration

10. Possession and Risk: Terms regarding transfer of possession and assumption of risk

11. Taxes and Expenses: Allocation of tax liabilities and transaction costs

12. Default and Remedies: Consequences of default and available remedies

13. Governing Law and Jurisdiction: Applicable law and courts having jurisdiction

14. Notices: Process for sending and receiving formal communications

15. Force Majeure: Provisions for unforeseen circumstances preventing performance

Optional Sections

1. Broker/Agent Provisions: Include when a real estate broker or agent is involved in the transaction

2. Tenant Rights: Include when the property is sold with existing tenants

3. Development Rights: Include when the property has unused development potential or pending approvals

4. Environmental Compliance: Include for properties with specific environmental concerns or requirements

5. Intellectual Property: Include when the sale includes trading names, logos, or other IP associated with the property

6. Employee Transfer: Include when the sale includes transfer of property maintenance staff

7. Escrow Arrangements: Include when using an escrow mechanism for the transaction

8. Phased Completion: Include when the sale completion is planned in phases

9. Due Diligence Period: Include when a specific period is allocated for buyer's due diligence

Suggested Schedules

1. Property Details: Detailed technical description, floor plans, and area measurements

2. Title Documents: List of all title and ownership documents

3. Payment Schedule: Detailed breakdown of payment installments and timelines

4. Encumbrances: List of existing mortgages, liens, or other encumbrances

5. Completion Requirements: Checklist of documents and actions required for completion

6. Property Permits: Copies of relevant business permits and licenses

7. Existing Contracts: List of service contracts, maintenance agreements, etc.

8. Inventory: List of fixtures, fittings, and equipment included in the sale

9. Due Diligence Reports: Technical, legal, and environmental assessment reports

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions








































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Relevant Industries

Real Estate

Banking & Finance

Retail

Manufacturing

Hospitality

Healthcare

Technology

Education

Logistics & Warehousing

Professional Services

Construction & Development

Relevant Teams

Legal

Finance

Real Estate

Operations

Compliance

Business Development

Property Management

Asset Management

Corporate Affairs

Facilities Management

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Real Estate Manager

Property Manager

Legal Counsel

Commercial Director

Business Development Manager

Investment Manager

Facilities Manager

Corporate Lawyer

Real Estate Agent

Property Developer

Asset Manager

Operations Director

Compliance Officer

Industries










Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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