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Home Buy Sell Agreement

Home Buy Sell Agreement Template for Pakistan

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Key Requirements PROMPT example:

Home Buy Sell Agreement

"I need a Home Buy Sell Agreement for a newly constructed 250-square-yard house in DHA Lahore, with a requirement for installment payments over 6 months and specific conditions about the completion of pending construction work by March 2025."

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Document background
The Home Buy Sell Agreement serves as the primary legal instrument for residential property transactions in Pakistan. This document is essential when transferring ownership of residential property, whether it involves individual homeowners, property developers, or corporate entities. It must comply with various Pakistani federal and provincial laws, including the Transfer of Property Act 1882, Registration Act 1908, and relevant stamp duty regulations. The agreement comprehensively covers all aspects of the property transaction, from initial property description and purchase price to completion requirements and post-sale obligations. It's designed to protect both parties' interests while ensuring compliance with local legal requirements, including proper registration and transfer procedures. The document is particularly important in Pakistan's complex property market, where clear documentation and legal compliance are crucial for avoiding future disputes.
Suggested Sections

1. Parties: Identification of the seller and buyer with complete details including CNIC numbers and addresses

2. Background: Context of the sale and brief description of the property being transferred

3. Definitions: Key terms used throughout the agreement including Property, Completion Date, Purchase Price, etc.

4. Property Details: Comprehensive description of the property including location, dimensions, and registration details

5. Purchase Price: Agreed purchase price and payment structure including initial deposit and completion payment

6. Payment Terms: Detailed payment schedule, method of payment, and consequences of default

7. Title and Transfer: Seller's confirmation of clear title and process for transfer of ownership

8. Completion Requirements: Conditions to be met before completion, including documentation and registration requirements

9. Seller's Warranties: Warranties regarding property ownership, encumbrances, and legal compliance

10. Buyer's Warranties: Warranties regarding financial capacity and compliance with purchase terms

11. Possession: Terms for handover of physical possession of the property

12. Registration and Transfer Costs: Allocation of costs related to registration, stamp duty, and other transfer expenses

13. Governing Law: Confirmation of Pakistani law as governing law and relevant jurisdiction

14. Dispute Resolution: Process for resolving disputes including mediation and litigation procedures

Optional Sections

1. Property Inspection: Details of property inspection rights and findings, used when buyer hasn't completed full inspection

2. Existing Tenancies: Information about current tenants and lease agreements, included if property is tenant-occupied

3. Fixtures and Fittings: List of items included/excluded in the sale, used when specific items need to be detailed

4. Construction Completion: For properties under construction, including completion timelines and specifications

5. Mortgage Contingency: Conditions related to buyer's mortgage financing, included if purchase depends on mortgage approval

6. Society NOC: Requirements for No Objection Certificate from housing society, if property is in a managed society

7. Islamic Finance Compliance: Specific terms to ensure compliance with Islamic finance principles, if required by either party

Suggested Schedules

1. Property Documents: List of all property papers including title deeds, tax receipts, and previous transfers

2. Property Plan: Detailed architectural plans, site maps, and property boundaries

3. Payment Schedule: Detailed breakdown of payment installments and due dates

4. Fixtures and Fittings Inventory: Comprehensive list of items included in the sale

5. Outstanding Utilities: Details of any pending utility bills and transfer procedures

6. Completion Checklist: List of documents and actions required for completion

7. Required Regulatory Approvals: List of necessary government and regulatory approvals

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








































Clauses



































Relevant Industries

Real Estate

Banking & Finance

Legal Services

Construction

Property Development

Property Management

Islamic Finance

Insurance

Urban Development

Relevant Teams

Legal

Real Estate

Property Management

Compliance

Finance

Risk Management

Documentation

Customer Relations

Operations

Business Development

Relevant Roles

Real Estate Agent

Property Lawyer

Legal Counsel

Property Manager

Bank Manager

Mortgage Officer

Property Valuer

Conveyancing Officer

Real Estate Developer

Housing Society Manager

Compliance Officer

Property Registrar

Title Search Specialist

Real Estate Investment Manager

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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