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Real Estate Contract To Sell Template for Pakistan

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Key Requirements PROMPT example:

Real Estate Contract To Sell

"I need a Real Estate Contract to Sell for a commercial warehouse property in Lahore, Pakistan, with completion scheduled for March 2025, including specific provisions for existing tenant arrangements and property inspection requirements."

Document background
The Real Estate Contract to Sell is a fundamental document in Pakistani property transactions, essential for both residential and commercial property transfers. This contract type is used when parties wish to formalize their agreement for the sale and purchase of real estate, setting out the terms, conditions, and obligations of both parties. It must comply with Pakistani federal laws including the Transfer of Property Act 1882 and Contract Act 1872, as well as applicable provincial regulations. The document typically includes comprehensive details about the property, payment terms, completion timeline, and specific requirements for registration with local authorities. It's particularly important in Pakistan's property market where formal documentation is crucial for establishing clear title and avoiding future disputes. The contract serves as the foundation for the eventual transfer of property and is often required by financial institutions, government authorities, and property registrars.
Suggested Sections

1. Parties: Identification of seller and purchaser with complete details as required by Pakistani law, including CNIC numbers

2. Background: Context of the sale and brief description of the property

3. Definitions: Key terms used throughout the agreement, including legal and technical terms specific to Pakistani real estate

4. Property Details: Comprehensive legal description of the property as per title documents and revenue records

5. Purchase Price: Total consideration and payment terms, including installment schedule if applicable

6. Payment Method: Specified method of payment, banking details, and requirements for verification

7. Completion Date: Timeline for transaction completion and property possession transfer

8. Seller's Representations and Warranties: Declarations regarding property title, encumbrances, and legal status

9. Purchaser's Representations and Warranties: Confirmations regarding financial capacity and compliance with applicable laws

10. Transfer of Title: Process and obligations for executing and registering transfer deeds

11. Costs and Taxes: Allocation of transaction costs, stamp duty, and registration fees

12. Default and Remedies: Consequences of breach and available legal remedies

13. Governing Law and Jurisdiction: Specification of Pakistani law and relevant court jurisdiction

14. Execution: Signature blocks with witness requirements as per Pakistani law

Optional Sections

1. Condition Precedents: Specific conditions that must be met before completion, used when there are pending approvals or clearances

2. Property Inspection: Terms for property inspection and acceptance, used for properties under construction or requiring verification

3. Financing Arrangements: Details of mortgage or financing terms, included when purchase involves bank financing

4. Possession Before Completion: Terms for early possession if applicable, used when possession and completion dates differ

5. Power of Attorney: Authorization details if any party is acting through an attorney, used when direct participation isn't possible

6. Force Majeure: Provisions for unforeseen circumstances, particularly relevant in longer-term transactions

7. Property Management: Interim management terms, relevant for income-generating properties

8. Dispute Resolution: Alternative dispute resolution mechanisms, used when parties prefer arbitration over court proceedings

Suggested Schedules

1. Property Description Schedule: Detailed technical description of the property including boundaries, measurements, and fixtures

2. Title Documents: List of all title documents and their copies

3. Payment Schedule: Detailed breakdown of payment installments and due dates

4. Property Papers: Copies of relevant property documents including tax receipts and utility bills

5. Encumbrance Certificate: Recent certificate showing any registered encumbrances

6. Site Plan: Approved architectural plans and layouts where applicable

7. Completion Requirements Checklist: List of documents and actions required for completion

8. Property Inspection Report: Technical assessment of property condition if applicable

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

Hospitality

Retail

Commercial Property

Residential Property

Agriculture (for agricultural land)

Industrial

Relevant Teams

Legal

Real Estate

Property Management

Compliance

Business Development

Investment

Operations

Risk Management

Documentation

Client Relations

Relevant Roles

Real Estate Agent

Property Lawyer

Legal Counsel

Property Manager

Real Estate Developer

Property Valuer

Conveyancing Officer

Real Estate Investment Manager

Property Rights Officer

Compliance Officer

Real Estate Transaction Coordinator

Business Development Manager

Chief Legal Officer

Property Portfolio Manager

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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