tiktok³ÉÈË°æ

The Preliminary Sale Agreement is a critical document in Pakistani property transactions, used when parties have reached initial agreement on key terms but require a formal framework before proceeding to final sale. This document typically precedes the main sale agreement and is particularly important in complex property transactions where due diligence is required. It outlines the proposed transaction's fundamental terms, including property details, price, payment structure, and conditions precedent, while providing protection for both parties during the preliminary phase. Operating under Pakistani law, including the Contract Act 1872 and Transfer of Property Act 1882, it serves as a legally binding commitment while allowing flexibility for detailed negotiations and due diligence. The agreement is especially valuable in commercial property transactions, corporate acquisitions, and high-value residential sales where parties need to formalize their intentions while maintaining certain conditions and safeguards before final completion.

1. Parties: Identification and details of the seller and purchaser, including full legal names, addresses, and registration details if companies

2. Background: Context of the transaction, brief description of the property, and parties' intentions

3. Definitions: Key terms used throughout the agreement

4. Property Description: Detailed description of the property being sold, including location, dimensions, and registration details

5. Purchase Price: Agreed purchase price and payment structure, including any deposits or earnest money

6. Due Diligence: Buyer's right to conduct investigations and seller's obligations to provide necessary documentation

7. Conditions Precedent: Conditions that must be satisfied before proceeding to final sale agreement

8. Timeline: Key dates and deadlines for due diligence, final agreement, and completion

9. Obligations of the Parties: Specific responsibilities of both seller and buyer during the preliminary period

10. Representations and Warranties: Basic representations by both parties regarding authority to enter agreement and property status

11. Termination: Circumstances under which either party may terminate the agreement

12. Governing Law and Jurisdiction: Confirmation of Pakistani law as governing law and jurisdiction for disputes