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Purchase And Sale Agreement Commercial (Real Estate)

Purchase And Sale Agreement Commercial (Real Estate) Template for Pakistan

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Purchase And Sale Agreement Commercial (Real Estate)

"I need a Purchase and Sale Agreement Commercial (Real Estate) for the acquisition of a mixed-use commercial building in Lahore, Pakistan, with existing retail tenants on the ground floor and consideration for planned renovation works to begin in March 2025."

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Document background
The Purchase And Sale Agreement Commercial (Real Estate) is a crucial legal document used in Pakistan for transactions involving commercial real estate properties. It is designed to facilitate and formalize the sale and purchase of commercial properties while ensuring compliance with Pakistani legal requirements, including the Transfer of Property Act 1882, Registration Act 1908, and relevant provincial laws. This agreement 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 document encompasses all necessary elements for a valid property transaction, including property details, purchase price, payment terms, conditions precedent, warranties, and completion requirements, while addressing specific commercial considerations such as existing tenancies, service contracts, and property management transitions.
Suggested Sections

1. Parties: Identification and details of the Seller and Purchaser, including registration numbers for companies

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. Sale and Purchase: Core agreement to sell and purchase the property, including the basic terms

5. Purchase Price: Detailed breakdown of the purchase price and payment terms

6. Deposit: Terms relating to the deposit amount, payment, and handling

7. Conditions Precedent: Conditions that must be satisfied before completion can occur

8. Due Diligence: Buyer's rights and process for conducting property investigations

9. Title and Transfer: Provisions regarding property title and transfer process

10. Seller's Warranties: Warranties given by the seller regarding the property

11. Buyer's Warranties: Warranties given by the buyer regarding capacity to purchase

12. Completion: Process and requirements for completing the transaction

13. Post-Completion Obligations: Obligations of both parties after completion

14. Default and Termination: Consequences of default and termination rights

15. Notices: Process for giving formal notices under the agreement

16. Governing Law and Jurisdiction: Specification of Pakistani law and relevant jurisdiction

17. General Provisions: Standard boilerplate clauses including amendments, waiver, and severability

Optional Sections

1. Tenant Rights and Obligations: Required if the property is sold with existing tenants

2. Environmental Matters: Required for properties with potential environmental concerns or specific requirements

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

4. Financing Conditions: Include when purchase is contingent on buyer obtaining financing

5. Property Management Transition: Required for properties with ongoing management services

6. Asset Transfer: Required when sale includes significant fixtures, fittings, or equipment

7. Intellectual Property: Include when property involves trading names or branded properties

8. Foreign Investment Provisions: Required when buyer is a foreign entity

9. Service Contracts Assignment: Include when existing service contracts are being transferred

Suggested Schedules

1. Property Description: Detailed legal description and plans of the property

2. Title Documents: List of all relevant title documents and encumbrances

3. Purchase Price Breakdown: Detailed breakdown of purchase price components and payment schedule

4. Completion Requirements: Checklist of documents and requirements for completion

5. Existing Tenancies: Details of any existing lease agreements and tenant information

6. Service Contracts: List and details of ongoing service contracts

7. Property Inventory: Inventory of fixtures, fittings, and equipment included in sale

8. Outstanding Notices: Copies of any outstanding statutory or regulatory notices

9. Required Consents: List of required regulatory and third-party consents

10. Property Certificates: Copies of relevant property certificates and compliance documents

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

Commercial Property

Retail

Manufacturing

Hospitality

Healthcare

Education

Banking & Finance

Technology

Logistics & Warehousing

Professional Services

Industrial

Relevant Teams

Legal

Finance

Real Estate

Operations

Facilities Management

Risk & Compliance

Corporate Development

Property Management

Asset Management

Investment

Due Diligence

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Real Estate Director

Property Manager

Legal Counsel

Commercial Director

Facilities Manager

Investment Manager

Asset Manager

Development Director

Corporate Lawyer

Finance Manager

Operations Director

Risk Manager

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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