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Simple Contract To Purchase (Real Estate)
"I need a Simple Contract To Purchase (Real Estate) for buying a residential property in Lahore, Pakistan, with a completion date of March 15, 2025, including standard payment terms and immediate possession upon completion."
1. Parties: Identification of the seller and purchaser with complete legal names, CNIC numbers, and addresses
2. Background: Brief context of the transaction and property ownership status
3. Definitions: Key terms used throughout the agreement including Property, Completion Date, Purchase Price, etc.
4. Property Details: Comprehensive description of the property including exact location, dimensions, and registration details
5. Purchase Price: Agreed purchase price and payment terms including deposit and installment schedule if applicable
6. Payment Terms: Detailed breakdown of how and when payments will be made, including any conditions precedent
7. Completion Requirements: Conditions and requirements for completing the sale, including documentation and registration
8. Seller's Warranties: Warranties regarding property ownership, encumbrances, and legal status
9. Property Handover: Terms and conditions for physical possession of the property
10. Registration and Transfer: Process and responsibilities for legal transfer and registration of the property
11. Costs and Taxes: Allocation of transaction costs, stamp duty, and other taxes between parties
12. Governing Law: Confirmation of Pakistani law as governing law and jurisdiction
13. Execution: Signature blocks and witness requirements
1. Condition of Property: Used when specific property conditions need to be documented or when property is sold as-is
2. Financing Conditions: Include when purchase is contingent on buyer obtaining financing
3. Third Party Rights: Required when there are existing tenants or other third-party interests in the property
4. Development Requirements: Include for undeveloped land or properties requiring specific development obligations
5. Due Diligence: Add when buyer requires a due diligence period before finalizing the purchase
6. Utilities and Services: Include when transfer of utilities and services needs specific attention
7. Islamic Finance Compliance: Required when transaction needs to comply with Islamic financing principles
1. Property Description Schedule: Detailed legal description of property including plot number, measurements, and boundaries
2. Title Documents: List of all title documents and their copies
3. Payment Schedule: Detailed breakdown of payment installments and dates if not a single payment
4. Property Inventory: List of fixtures, fittings, and other items included in the sale
5. Outstanding Liabilities: Details of any existing mortgages, liens, or other encumbrances
6. Required Permits: List of necessary permits and approvals for property transfer
7. Property Plans: Site plans, building plans, and other relevant technical drawings
Authors
Real Estate
Property Development
Construction
Banking and Finance
Legal Services
Property Management
Urban Development
Housing
Commercial Property
Residential Property
Islamic Finance
Legal
Real Estate
Property Management
Compliance
Operations
Acquisitions
Finance
Risk Management
Documentation
Corporate Services
Real Estate Agent
Property Lawyer
Legal Counsel
Property Manager
Real Estate Developer
Compliance Officer
Contract Manager
Property Consultant
Real Estate Investment Manager
Legal Administrator
Real Estate Portfolio Manager
Property Acquisitions Manager
Real Estate Transaction Coordinator
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