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Home Selling Contract Template for Pakistan

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Key Requirements PROMPT example:

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."

Document background
The Home Selling Contract is a fundamental legal document used in Pakistani real estate transactions to formalize the sale of residential property. This contract is essential when transferring property ownership from one party to another in Pakistan, ensuring compliance with local property laws and regulations. It incorporates crucial elements required by Pakistani legislation, including the Transfer of Property Act 1882, Registration Act 1908, and relevant Islamic law principles. The document covers essential aspects such as property description, purchase price, payment terms, warranties, and completion requirements, while also addressing specific local requirements like stamp duty obligations and registration procedures. This contract type is designed to protect both seller's and buyer's interests while ensuring a smooth and legally compliant property transfer process.
Suggested Sections

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

Optional Sections

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

Suggested Schedules

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

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








































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Relevant Industries

Residential Real Estate

Commercial Real Estate

Legal Services

Banking and Finance

Property Development

Real Estate Brokerage

Construction

Property Management

Relevant Teams

Legal

Real Estate

Property Management

Compliance

Finance

Risk Management

Documentation

Client Relations

Operations

Relevant Roles

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

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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