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Home Selling Contract
"I need a Home Selling Contract for my 3-bedroom house in Lahore, with completion set for March 15, 2025, including a requirement for a 15% deposit and the remaining payment in two installments."
1. Parties: Identification and details of the seller and buyer, including their full legal names, CNICs, and addresses
2. Background: Brief context of the transaction and confirmation of the seller's ownership and right to sell
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Description: Detailed description of the property including address, dimensions, boundaries, and registration details
5. Purchase Price: The agreed purchase price and payment structure, including deposit and completion payment details
6. Payment Terms: Detailed payment schedule, method of payment, and consequences of default
7. Completion: Requirements and process for completing the sale, including timing and documentation
8. Seller's Warranties: Warranties regarding property ownership, absence of encumbrances, and condition of the property
9. Buyer's Warranties: Warranties regarding financial capacity and compliance with legal requirements
10. Property Handover: Terms and conditions for physical possession of the property
11. Registration and Transfer: Process and responsibilities for property registration and transfer of title
12. Costs and Taxes: Allocation of transaction costs, stamp duty, and tax obligations
13. Governing Law: Confirmation of Pakistani law as governing law and jurisdiction
14. Dispute Resolution: Process for handling disputes between parties
15. Notices: Method and addresses for serving legal notices
16. Execution: Signature blocks and witnessing requirements
1. Property Inspection: Details of property inspection rights and findings, used when the buyer has conducted or wishes to conduct a professional inspection
2. Financing Contingency: Conditions related to buyer's mortgage financing, included when purchase depends on mortgage approval
3. Tenant Rights: Provisions regarding existing tenants, required when the property is currently tenanted
4. Repairs and Renovations: Specific agreements about repairs or renovations to be completed before sale
5. Foreign Ownership: Additional provisions required when buyer is a foreign national
6. Power of Attorney: Required when either party is acting through an authorized representative
7. Property Contents: List of fixtures and fittings included/excluded from sale, when relevant
8. Development Rights: Provisions regarding future development rights or restrictions, relevant for undeveloped or partially developed properties
1. Schedule 1 - Property Details: Detailed property specifications, including floor plans and boundary details
2. Schedule 2 - Payment Schedule: Detailed breakdown of payment installments and timing
3. Schedule 3 - Property Documents: List of all property-related documents provided by seller
4. Schedule 4 - Property Contents: Inventory of fixtures, fittings, and contents included in the sale
5. Schedule 5 - Outstanding Liabilities: List of any outstanding mortgages, charges, or liens
6. Appendix A - Property Title Documents: Copies of title documents and registration certificates
7. Appendix B - Property Plans: Architectural plans, site maps, and location plans
8. Appendix C - Compliance Certificates: Relevant building, tax, and utility compliance certificates
Authors
Residential Real Estate
Commercial Real Estate
Legal Services
Banking and Finance
Property Development
Real Estate Brokerage
Construction
Property Management
Legal
Real Estate
Property Management
Compliance
Finance
Risk Management
Documentation
Client Relations
Operations
Real Estate Agent
Property Lawyer
Conveyancing Lawyer
Legal Counsel
Property Manager
Real Estate Broker
Title Examiner
Mortgage Officer
Property Valuator
Real Estate Consultant
Legal Document Specialist
Property Rights Specialist
Compliance Officer
Real Estate Transaction Coordinator
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