The Buyer Agency Agreement is a crucial document in Pakistani real estate transactions that formalizes the relationship between a property buyer and their chosen real estate agent. This agreement is essential when an individual or organization wants professional representation in their property search and acquisition process. The document is structured to comply with Pakistani contract law, particularly the Contract Act 1872, and various provincial real estate regulations. It specifically details the agent's authority, responsibilities, compensation structure, and the buyer's obligations. The agreement becomes necessary when buyers seek exclusive representation in property transactions, ensuring their interests are protected and they receive dedicated professional assistance. It's particularly important in complex property transactions where professional guidance is crucial for navigating the local real estate market.
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1. Parties: Identifies and provides full details of the buyer (principal) and the real estate agent (agent), including legal names, addresses, and contact information
2. Background: Provides context for the agreement, including the buyer's intention to purchase property and the agent's qualifications and licenses
3. Definitions: Defines key terms used throughout the agreement for clarity and legal certainty
4. Appointment and Authority: Formally establishes the agency relationship and defines the scope of the agent's authority to act on behalf of the buyer
5. Agent's Services and Obligations: Details the specific services the agent will provide, including property search, negotiations, and advisory services
6. Buyer's Obligations: Outlines the buyer's responsibilities, including providing accurate information and cooperating with the agent
7. Compensation: Specifies the agent's commission or fees, payment terms, and conditions for earning the commission
8. Term and Termination: Defines the duration of the agreement and circumstances under which it can be terminated
9. Confidentiality: Establishes obligations regarding confidential information shared during the agency relationship
10. Representations and Warranties: Contains statements of fact and promises made by both parties
11. Governing Law and Jurisdiction: Specifies that Pakistani law governs the agreement and designates jurisdiction for dispute resolution
12. Signatures: Space for parties to execute the agreement with proper attestation
1. Dual Agency: Required if the agent may potentially represent both buyer and seller in a transaction
2. Property Preferences: Include when specific property requirements need to be documented as part of the agreement
3. International Transactions: Needed if the buyer is non-resident or the search includes international properties
4. Force Majeure: Include to address unforeseen circumstances that may prevent performance
5. Dispute Resolution: Optional section detailing specific arbitration or mediation procedures
6. Assignment: Include if either party may need to transfer their rights or obligations
7. Digital Communications: Include when parties agree to use electronic communications for official notices
1. Schedule A - Service Fee Structure: Detailed breakdown of all fees, commissions, and payment terms
2. Schedule B - Property Requirements: Detailed specifications of the type of property being sought
3. Schedule C - Excluded Properties: List of properties excluded from the agreement
4. Schedule D - Agent's License and Credentials: Copies of the agent's professional licenses and certifications
5. Appendix 1 - Power of Attorney: If required, specific powers granted to the agent
6. Appendix 2 - Required Disclosures: Mandatory disclosures required under Pakistani law
Authors
Relevant legal definitions
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Relevant Industries
Real Estate
Banking & Finance
Legal Services
Corporate Services
Construction
Hospitality
Retail
Industrial & Manufacturing
Healthcare
Education
Relevant Teams
Legal
Real Estate
Procurement
Finance
Operations
Compliance
Risk Management
Corporate Services
Facilities Management
Business Development
Relevant Roles
Real Estate Agent
Property Consultant
Legal Counsel
Corporate Lawyer
Property Manager
Facilities Manager
Chief Financial Officer
Operations Director
Business Development Manager
Procurement Manager
Real Estate Portfolio Manager
Compliance Officer
Risk Manager
Corporate Real Estate Manager
Investment Manager
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