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Real Estate Agreement
"I need a Real Estate Agreement for the purchase of a commercial property in Lahore, Pakistan, with a phased payment structure over 6 months and specific conditions for existing tenant arrangements to be maintained until March 2025."
1. Parties: Details of the seller/lessor and buyer/lessee, including complete legal names, CNICs, and addresses
2. Background: Context of the transaction, including brief property history and purpose of the agreement
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Details: Comprehensive description of the property including exact location, dimensions, and unique identifying details
5. Consideration: Purchase price or rent amount, payment terms, and schedule
6. Payment Method: Specified method of payment, including bank details if applicable
7. Possession and Title: Terms of property possession and transfer of title
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 terms
10. Closing Process: Steps for completing the transaction, including documentation and registration requirements
11. Costs and Taxes: Allocation of transaction costs, stamp duty, and other applicable taxes
12. Default and Remedies: Consequences of breach and available remedies
13. Governing Law: Specification of Pakistani law and relevant jurisdiction
14. Notices: Process for formal communications between parties
15. Execution: Signature blocks and witness requirements
1. Due Diligence: Used when buyer requires specific period for property investigation and verification
2. Condition Precedents: Include when transaction completion depends on specific conditions being met
3. Mortgage/Finance: Required when purchase involves bank financing or Islamic mortgage arrangements
4. Property Management: Needed for agreements involving ongoing management responsibilities
5. Development Rights: Include when property involves future development potential or restrictions
6. Utility Transfers: Used when specific arrangements for utility transfer are needed
7. Tenant Rights: Include if property is currently tenanted or includes existing lease agreements
8. Force Majeure: Optional clause for unforeseen circumstances affecting the agreement
9. Arbitration: Alternative dispute resolution clause, if preferred over court proceedings
1. Property Description Schedule: Detailed technical description of property, including measurements and boundaries
2. Title Documents: List of all relevant property ownership documents and history
3. Payment Schedule: Detailed breakdown of payment instalments and dates
4. Property Inspection Report: Current condition report and any identified issues
5. Existing Encumbrances: Details of any existing mortgages, liens, or other encumbrances
6. Property Tax History: Record of property tax payments and outstanding dues
7. Utility Bills: Recent utility bills and payment status
8. Property Plans: Architectural plans, maps, and approved building plans
9. Photographs: Current photographs of the property and any specific features or damages
Authors
Real Estate
Property Development
Construction
Banking & Finance
Legal Services
Property Management
Urban Development
Housing
Commercial Property
Islamic Finance
Legal
Real Estate
Compliance
Property Management
Finance
Risk Management
Operations
Business Development
Investment
Documentation
Real Estate Lawyer
Property Manager
Real Estate Agent
Legal Counsel
Compliance Officer
Property Developer
Land Revenue Officer
Contract Manager
Real Estate Investment Manager
Property Valuation Expert
Real Estate Finance Manager
Development Authority Officer
Title Search Specialist
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