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Real Estate Offer To Purchase Contract
"I need a Real Estate Offer To Purchase Contract for a residential property in Lahore, Pakistan, with a closing date of March 15, 2025, including standard financing contingencies and a property inspection clause."
1. Parties: Identification and details of the buyer and seller, including full legal names, CNICs, and contact information
2. Background: Context of the transaction and brief description of the property being offered for purchase
3. Definitions: Key terms used throughout the agreement defined for clarity and legal certainty
4. Property Description: Detailed legal description of the property, including address, lot number, and registered details
5. Purchase Price: Total purchase price, payment structure, and deposit details
6. Payment Terms: Schedule of payments, method of payment, and any installment arrangements
7. Closing Date: Specified date for completion of the transaction and transfer of ownership
8. Due Diligence: Buyer's right to inspect property and verify all relevant documentation
9. Seller's Representations and Warranties: Seller's guarantees regarding property title, condition, and legal status
10. Buyer's Representations and Warranties: Buyer's guarantees regarding financial capacity and commitment to purchase
11. Closing Conditions: Requirements that must be met before the transaction can be completed
12. Transfer of Title: Process and requirements for transferring property ownership
13. Default and Remedies: Consequences and available remedies if either party breaches the agreement
14. Governing Law: Specification that Pakistani law governs the agreement and relevant jurisdiction
15. Notices: How and where official communications between parties should be sent
16. Execution: Signature requirements and execution process
1. Financing Contingency: Terms regarding buyer's ability to secure financing, used when purchase depends on mortgage approval
2. Property Inspection Contingency: Detailed terms for property inspection and right to terminate based on findings
3. Repairs and Improvements: Requirements for specific repairs or improvements to be completed before closing
4. Possession Date: Used when possession date differs from closing date
5. Tenant Rights: Required if property is currently tenanted, specifying handling of existing tenancy
6. Property Management: Interim property management arrangements between agreement and closing
7. Islamic Finance Compliance: Special terms ensuring compliance with Islamic finance principles if required
8. Agent Commission: Terms regarding real estate agent commissions if applicable
1. Schedule A - Property Details: Comprehensive property description, including boundaries, dimensions, and included fixtures
2. Schedule B - Payment Schedule: Detailed breakdown of payment installments and due dates
3. Schedule C - Property Documents: List of all property documents to be provided by seller
4. Schedule D - Outstanding Liabilities: List of any existing mortgages, liens, or encumbrances
5. Schedule E - Inventory: List of included furnishings or equipment if applicable
6. Appendix 1 - Property Photos: Recent photographs of the property and its major features
7. Appendix 2 - Title Documents: Copies of relevant title documents and certificates
8. Appendix 3 - Inspection Reports: Any existing property inspection or evaluation reports
Authors
Real Estate
Construction
Banking & Finance
Legal Services
Property Development
Property Management
Islamic Finance
Insurance
Urban Development
Investment & Asset Management
Legal
Real Estate
Compliance
Risk Management
Property Management
Acquisitions
Document Control
Finance
Operations
Due Diligence
Real Estate Agent
Property Lawyer
Legal Counsel
Property Manager
Investment Manager
Real Estate Developer
Property Valuation Expert
Compliance Officer
Contract Manager
Real Estate Portfolio Manager
Property Acquisition Manager
Legal Document Specialist
Real Estate Transaction Coordinator
Risk Assessment Officer
Title Examiner
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