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Agreement To Buy And Sell Real Estate Residential
"I need an Agreement To Buy And Sell Real Estate Residential for a 250-square-yard house in DHA Phase 6, Karachi, with a completion date of March 15, 2025; the agreement should include standard payment terms with 25% advance payment."
1. Parties: Identification and details of the seller and buyer, including full legal names, addresses, and ID/registration numbers
2. Background: Context of the transaction and brief description of the parties' intention to enter into the agreement
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Description: Detailed description of the property including address, dimensions, registration details, and boundaries
5. Purchase Price: Statement of the agreed purchase price and payment terms including deposit and installment schedule
6. Payment Terms: Detailed breakdown of payment structure, method of payment, and timeline
7. Due Diligence: Buyer's right to investigate title, property condition, and other relevant matters
8. Seller's Representations and Warranties: Seller's declarations regarding property ownership, encumbrances, and condition
9. Buyer's Representations and Warranties: Buyer's declarations regarding financial capacity and compliance with laws
10. Closing Conditions: Conditions that must be satisfied before the transaction can close
11. Closing Procedure: Steps to be taken at closing, including document delivery and registration
12. Possession: Terms regarding transfer of possession and condition of property at handover
13. Default and Remedies: Consequences of breach by either party and available remedies
14. Notices: Method and addresses for formal communications between parties
15. Governing Law: Specification of Pakistani law as governing law and jurisdiction
16. General Provisions: Standard clauses including entire agreement, amendments, and severability
1. Financing Contingency: To be included when buyer's purchase is contingent on obtaining financing
2. Property Inspection: Detailed terms for property inspection when buyer requires specific inspection rights
3. Tenant Rights: Required when property is currently tenanted or subject to existing lease agreements
4. Foreign Ownership Compliance: Required when buyer is a foreign national, addressing compliance with FERA
5. Islamic Finance Provisions: Required when transaction involves Islamic financing arrangements
6. Property Management: Terms for interim management if there's a gap between sale and possession
7. Development Rights: Required when property includes undeveloped land or development potential
8. Utilities and Maintenance: Detailed provisions for transfer of utilities and maintenance responsibilities
1. Schedule A - Property Details: Detailed property specification including lot number, dimensions, and registered title details
2. Schedule B - Payment Schedule: Detailed breakdown of payment installments and due dates
3. Schedule C - Property Inventory: List of fixtures, fittings, and other items included/excluded from sale
4. Schedule D - Outstanding Liabilities: List of any existing mortgages, liens, or other encumbrances
5. Schedule E - Required Repairs: List of repairs or improvements to be completed before closing
6. Appendix 1 - Property Documents: Copies of title documents, tax receipts, and other relevant certificates
7. Appendix 2 - Property Plans: Architectural plans, site maps, and property photographs
8. Appendix 3 - Compliance Certificates: Copies of relevant regulatory approvals and compliance certificates
Authors
Real Estate
Banking & Finance
Legal Services
Construction
Property Development
Insurance
Property Management
Urban Planning
Financial Services
Property Investment
Legal
Real Estate
Compliance
Property Management
Finance
Risk Management
Operations
Corporate Services
Documentation
Investment
Real Estate Agent
Property Lawyer
Legal Counsel
Property Developer
Bank Manager
Mortgage Officer
Property Valuator
Real Estate Manager
Compliance Officer
Title Examiner
Property Investment Advisor
Real Estate Broker
Legal Document Specialist
Property Transaction Manager
Real Estate Administrator
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