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Conditional Sales Contract (Real Estate)
"I need a Conditional Sales Contract (Real Estate) for a residential property in Lahore, Pakistan, where the purchase price of PKR 15 million will be paid in 4 quarterly installments throughout 2025, with the final transfer of property contingent upon full payment."
1. Parties: Identification of the seller and purchaser with complete legal names, addresses, and CNIC numbers
2. Background: Context of the transaction including brief property history and intention to enter into a conditional sale
3. Definitions: Definitions of key terms used throughout the agreement including Property, Completion Date, Purchase Price, and Conditions
4. Property Description: Detailed legal description of the property including plot number, street, locality, city, and registration details
5. Purchase Price: Total consideration amount, payment schedule, and payment methods
6. Conditions of Sale: Specific conditions that must be met before the sale becomes final, including payment terms and timeframes
7. Seller's Representations and Warranties: Seller's declarations regarding property ownership, encumbrances, and legal authority to sell
8. Purchaser's Representations and Warranties: Purchaser's declarations regarding financial capacity and compliance with relevant laws
9. Possession and Risk: Terms regarding property possession, maintenance responsibilities, and risk allocation during the conditional period
10. Default and Remedies: Consequences of default by either party and available remedies
11. Registration and Transfer: Process and requirements for final property registration and transfer upon fulfillment of conditions
12. Governing Law and Jurisdiction: Specification of Pakistani law as governing law and relevant court jurisdiction
1. Mutation of Property: Include when the property requires mutation in revenue records
2. Third Party Rights: Include when there are existing tenants or other third-party interests in the property
3. Development Requirements: Include when the property is undeveloped or requires specific development conditions
4. Islamic Finance Compliance: Include when the transaction needs to comply with Islamic financing principles
5. Property Management: Include when specific arrangements for property management during the conditional period are needed
6. Insurance Requirements: Include when specific insurance coverage is required during the conditional period
7. Force Majeure: Include when parties want specific provisions for unforeseen circumstances
1. Schedule A - Property Details: Detailed property specifications, boundaries, and measurements
2. Schedule B - Payment Schedule: Detailed breakdown of payment installments and dates
3. Schedule C - Property Documents: List of all property documents and certificates to be provided
4. Schedule D - Completion Requirements: Checklist of conditions and requirements for completion
5. Appendix 1 - Property Plans: Architectural plans, maps, and property layouts
6. Appendix 2 - Title Documents: Copies of relevant title documents and certificates
7. Appendix 3 - Permissions and Approvals: Copies of necessary governmental approvals and permits
Authors
Real Estate
Construction
Property Development
Banking & Finance
Legal Services
Property Management
Urban Development
Housing & Infrastructure
Islamic Finance
Legal
Real Estate
Compliance
Property Management
Sales
Business Development
Risk Management
Finance
Operations
Real Estate Lawyer
Property Manager
Real Estate Agent
Legal Counsel
Contract Manager
Property Developer
Land Registration Officer
Compliance Officer
Real Estate Investment Manager
Property Valuation Expert
Islamic Finance Consultant
Real Estate Transaction Coordinator
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