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Installment Sales Contract For (Real Estate)
"I need an Installment Sales Contract For (Real Estate) for a commercial property in Lahore, Pakistan, with monthly installments over 24 months starting March 2025, including specific provisions for early possession while maintaining seller's security interest until full payment."
1. Parties: Identification of seller and purchaser with complete details including CNIC numbers and addresses
2. Background: Context of the sale, including brief property history and intention to sell/purchase through installments
3. Definitions: Key terms used throughout the agreement including Property, Installments, Completion Date, etc.
4. Property Description: Detailed legal description of the property including location, boundaries, and registration details
5. Purchase Price and Payment Terms: Total purchase price, down payment, installment amounts, payment schedule, and payment methods
6. Possession and Transfer: Terms regarding property possession, timeline for final transfer, and registration process
7. Seller's Representations and Warranties: Declarations regarding property title, encumbrances, and authority to sell
8. Purchaser's Representations and Warranties: Declarations regarding financial capacity and compliance with terms
9. Default and Remedies: Consequences of payment default, cure periods, and available remedies
10. Registration and Transfer Costs: Allocation of expenses for registration, stamp duty, and other transfer costs
11. Maintenance and Utilities: Responsibilities for property maintenance and utility payments during the installment period
12. Governing Law and Jurisdiction: Specification of Pakistani law and relevant court jurisdiction
13. Notices: Process and addresses for formal communications between parties
14. Termination: Circumstances and process for agreement termination
15. Execution: Signature blocks and witness requirements
1. Force Majeure: Provisions for unforeseen circumstances preventing performance, used in longer-term installment arrangements
2. Insurance: Requirements for property insurance during the installment period, relevant for high-value properties
3. Development Requirements: For undeveloped or partially developed properties, specifying construction or development obligations
4. Assignment Rights: Terms for transferring contract rights, included when parties want flexibility to assign
5. Property Management: For commercial properties or when early possession is granted before full payment
6. Escrow Arrangements: When third-party management of documents or payments is required
7. Religious Compliance: Specific provisions ensuring compliance with Islamic financing principles
8. Co-purchaser Provisions: When multiple purchasers are involved in the transaction
1. Schedule A - Property Documents: Copies of title documents, tax records, and property registration papers
2. Schedule B - Payment Schedule: Detailed installment payment schedule with dates and amounts
3. Schedule C - Property Plans: Property maps, architectural plans, and boundary descriptions
4. Schedule D - Existing Encumbrances: List of any existing liens, mortgages, or other encumbrances
5. Schedule E - Completion Requirements: Checklist of documents and actions required for final transfer
6. Schedule F - Property Inspection Report: Current condition report and any identified defects
7. Appendix 1 - Required Regulatory Approvals: List of necessary governmental or regulatory approvals
8. Appendix 2 - Form of Transfer Deed: Template of the final transfer deed to be executed upon completion
Authors
Real Estate
Construction
Banking & Finance
Legal Services
Property Development
Real Estate Investment
Housing Development
Commercial Property
Agricultural Land Development
Industrial Property
Legal
Real Estate
Property Management
Compliance
Finance
Risk Management
Operations
Sales
Document Control
Business Development
Real Estate Lawyer
Property Manager
Legal Counsel
Real Estate Agent
Property Developer
Contract Administrator
Compliance Officer
Real Estate Investment Manager
Property Valuation Expert
Title Officer
Land Revenue Officer
Property Registrar
Finance Manager
Real Estate Transaction Coordinator
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