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Property Buy Sell Agreement
"I need a Property Buy Sell Agreement for a residential house purchase in Lahore, Pakistan, with a standard payment schedule and completion date of March 15, 2025; the agreement should include basic warranties and transfer terms."
1. Parties: Identification and details of the Seller and Buyer, including their legal names, addresses, and CNIC numbers
2. Background: Context of the transaction and brief description of the property being sold
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Details: Comprehensive description of the property including exact location, dimensions, and boundaries
5. Purchase Price: Agreed purchase price and payment terms including installment schedule if applicable
6. Payment Method: Specified method of payment and banking details
7. Completion Date: Timeline for completion of the transaction and transfer of possession
8. Seller's Representations and Warranties: Declarations regarding property ownership, encumbrances, and legal status
9. Buyer's Representations and Warranties: Declarations regarding financial capacity and compliance with applicable laws
10. Due Diligence: Buyer's right to inspect and verify property details and documentation
11. Transfer of Title: Process and obligations for legal transfer of property title
12. Costs and Taxes: Allocation of transaction costs, taxes, and duties between parties
13. Default and Remedies: Consequences of breach and available remedies
14. Governing Law: Specification of Pakistani law as governing law
15. Dispute Resolution: Mechanism for resolving disputes between parties
16. Notices: Method and addresses for formal communications between parties
17. Execution: Signature blocks and witness requirements
1. Condition Precedents: Specific conditions that must be met before completion, used when there are particular requirements to be fulfilled
2. Mortgage/Finance: Terms related to property financing, included when buyer is obtaining financing
3. Property Management: Interim arrangements for property management, used when there's a gap between agreement and possession
4. Third Party Rights: Rights of existing tenants or other parties, included when relevant
5. Islamic Finance Compliance: Additional provisions for Islamic financing arrangements
6. Foreign Exchange Provisions: Special provisions for foreign buyers, included when buyer is non-resident
7. Power of Attorney: Authorization provisions when any party is acting through representatives
8. Property Usage Restrictions: Specific restrictions on property use, included for properties in special zones or with specific limitations
1. Property Description Schedule: Detailed technical description of the property including plot numbers, measurements, and boundaries
2. Payment Schedule: Detailed breakdown of payment installments and due dates
3. Title Documents: List of all title documents and their copies
4. Property Papers: Copies of property papers including registry, tax receipts, and utility bills
5. Encumbrance Certificate: Certificate showing any existing liens or encumbrances
6. NOCs: Copies of necessary No Objection Certificates from relevant authorities
7. Site Plan: Approved site plan and property maps
8. Inventory List: List of fixtures and fittings included in the sale
Authors
Real Estate
Construction
Banking & Finance
Legal Services
Property Development
Investment & Asset Management
Housing & Urban Development
Agriculture (for agricultural land)
Commercial Property
Industrial Property
Legal
Real Estate
Compliance
Property Management
Asset Management
Investment
Business Development
Operations
Finance
Risk Management
Real Estate Lawyer
Property Manager
Real Estate Agent
Legal Counsel
Compliance Officer
Property Developer
Investment Manager
Asset Manager
Real Estate Analyst
Transaction Manager
Property Valuer
Real Estate Director
Legal Administrator
Contract Manager
Business Development Manager
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