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Contract To Buy And Sell (Real Estate) Template for Pakistan

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Key Requirements PROMPT example:

Contract To Buy And Sell (Real Estate)

"I need a Contract to Buy and Sell (Real Estate) for a residential property purchase in Lahore, Pakistan, with a three-part payment structure where 30% is paid upfront, 40% on March 15, 2025, and the remaining 30% at possession."

Document background
The Contract to Buy and Sell (Real Estate) is a fundamental legal instrument used in Pakistan for property transactions between willing sellers and buyers. This document is essential when transferring ownership of any real estate property, whether residential, commercial, or industrial, and must comply with Pakistani property laws and regulations. It serves as a comprehensive agreement that protects both parties' interests by clearly stating the terms of sale, property details, payment conditions, and obligations of each party. The contract is particularly important in the Pakistani context where property transactions must adhere to specific legal requirements under the Transfer of Property Act 1882, Registration Act 1908, and relevant Islamic law principles. It includes provisions for proper documentation, registration requirements, and necessary governmental approvals, making it a crucial document for ensuring a legally sound property transfer in Pakistan.
Suggested Sections

1. Parties: Identification of the seller and buyer with complete details including CNIC numbers, addresses, and contact information

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 Description: Detailed description of the property including exact location, dimensions, boundaries, and registration details

5. Purchase Price: Agreed purchase price and payment terms including installment schedule if applicable

6. Payment Terms: Detailed breakdown of payment schedule, method of payment, and consequences of default

7. Title and Ownership: Seller's warranties regarding clear title and ownership rights

8. Due Diligence: Buyer's right to investigate title, property condition, and other relevant matters

9. Conditions Precedent: Conditions that must be satisfied before the sale can proceed

10. Closing Requirements: Documents to be delivered, actions to be taken, and procedures for closing

11. Transfer of Possession: Terms and timing of property possession transfer

12. Representations and Warranties: Statements of fact and promises by both parties regarding the property and transaction

13. Costs and Taxes: Allocation of transaction costs, taxes, and duties between parties

14. Default and Remedies: Consequences of breach and available remedies

15. Governing Law: Specification of Pakistani law as governing law and jurisdiction

16. Notices: Method and addresses for official communications between parties

17. Execution: Signature blocks and attestation requirements

Optional Sections

1. Mortgage Contingency: Include when buyer's purchase is contingent on obtaining financing

2. Property Inspection: Include when buyer requires specific inspection rights beyond standard due diligence

3. Tenant Rights: Include when property is currently tenanted or has existing lease agreements

4. Construction/Renovation: Include when property is under construction or requires specific renovations before closing

5. Power of Attorney: Include when either party is acting through an authorized representative

6. Foreign Investment: Include when buyer is a foreign national, addressing specific requirements and approvals

7. Agricultural Land: Include when property is agricultural land subject to special regulations

8. Joint Ownership: Include when multiple buyers are purchasing with specific sharing arrangements

9. Seller Financing: Include when seller is providing financing for part of the purchase price

Suggested Schedules

1. Schedule A - Property Details: Detailed property specifications, including floor plans, boundaries, and fixtures

2. Schedule B - Payment Schedule: Detailed breakdown of payment installments and due dates

3. Schedule C - Title Documents: List of title documents and ownership chain

4. Schedule D - Encumbrances: List of existing mortgages, liens, or other encumbrances

5. Schedule E - Property Condition: Current condition report and list of known defects

6. Appendix 1 - Property Photos: Recent photographs of the property

7. Appendix 2 - Location Map: Maps showing property location and access

8. Appendix 3 - NOCs: Copies of necessary No Objection Certificates

9. Appendix 4 - Tax Receipts: Copies of paid property tax receipts and utility bills

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions








































Clauses






























Relevant Industries

Real Estate

Construction

Banking & Finance

Legal Services

Property Development

Urban Planning

Housing

Commercial Property

Residential Property

Agriculture (for agricultural land)

Industrial Property

Retail Property

Relevant Teams

Legal

Real Estate

Compliance

Property Management

Acquisitions

Finance

Risk Management

Operations

Documentation

Due Diligence

Relevant Roles

Real Estate Agent

Property Lawyer

Legal Counsel

Property Developer

Real Estate Manager

Mortgage Officer

Property Valuation Expert

Compliance Officer

Real Estate Investment Manager

Property Acquisition Manager

Legal Document Specialist

Title Examiner

Real Estate Broker

Property Portfolio Manager

Land Revenue 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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