The Buyer Agency Agreement Form is a crucial document in Pakistani real estate transactions that formalizes the relationship between property buyers and their chosen real estate agents. This agreement is essential when a buyer wishes to engage professional representation in their property search and acquisition process. It clearly defines the scope of the agent's authority, responsibilities, and compensation structure while protecting both parties' interests under Pakistani law. The document is particularly important in both residential and commercial property transactions, incorporating requirements from various relevant legislation including the Contract Act 1872, Registration Act 1908, and provincial real estate regulations. It serves as a legally binding framework that ensures transparency and establishes clear expectations for all parties involved in the property purchase process.
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1. Parties: Identification of the buyer (principal) and the real estate agent (agent), including full legal names, addresses, and contact information
2. Background: Brief context explaining the buyer's intention to engage the agent for property purchase assistance
3. Definitions: Key terms used throughout the agreement including 'Property', 'Services', 'Commission', 'Exclusive Period', etc.
4. Appointment and Term: Formal appointment of the agent, specifying whether exclusive or non-exclusive, and the duration of the agreement
5. Agent's Services and Obligations: Detailed list of services the agent will provide, including property search, negotiations, and advisory services
6. Buyer's Obligations: Buyer's responsibilities including providing accurate information, cooperating with the agent, and maintaining confidentiality
7. Commission Structure: Details of the agent's compensation, including rate, calculation method, and payment terms
8. Termination: Conditions and process for ending the agreement by either party
9. Confidentiality: Obligations regarding confidential information shared during the engagement
10. Governing Law and Jurisdiction: Specification that Pakistani law governs the agreement and jurisdiction for dispute resolution
1. Exclusivity Clause: Used when the agreement is exclusive, detailing restrictions on engaging other agents
2. Property Requirements: Include when buyer has specific property criteria to be documented
3. Force Majeure: Added for protection against unforeseen circumstances preventing performance
4. Digital Communications: Include when parties agree to use electronic communications as official means
5. Post-Termination Obligations: Used when there are continuing obligations after agreement termination
6. Language Declaration: Required if the agreement is bilingual or translated
7. Religious Compliance: Optional section for ensuring compliance with Islamic banking principles if required
1. Schedule A - Commission Structure: Detailed breakdown of commission rates, payment terms, and conditions
2. Schedule B - Property Requirements: Detailed specifications of the type of property being sought
3. Schedule C - Agent's Services: Comprehensive list of all services included in the agreement
4. Appendix 1 - Required Documents: List of documents required from buyer for property purchase
5. Appendix 2 - Agency Disclosure: Standard agency disclosure form as required by local regulations
6. Appendix 3 - Power of Attorney: Optional power of attorney form if agent will act on buyer's behalf in certain matters
Authors
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Development
Construction
Commercial Property
Residential Property
Legal Services
Property Management
Real Estate Investment
Relevant Teams
Legal
Real Estate
Compliance
Property Acquisition
Contract Administration
Documentation
Property Management
Investment
Relevant Roles
Real Estate Agent
Property Buyer
Real Estate Broker
Property Consultant
Legal Counsel
Compliance Officer
Real Estate Manager
Property Acquisition Manager
Contract Administrator
Real Estate Investment Manager
Property Portfolio Manager
Documentation Specialist
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