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Residential Real Estate Purchase Contract
"I need a Residential Real Estate Purchase Contract for a newly constructed 500 square yard house in DHA Lahore, with a completion date of March 15, 2025, including provisions for Islamic financing through Diminishing Musharakah and specific clauses for construction defect warranties."
1. Parties: Identification of the Seller and Buyer with complete legal names and CNIC numbers
2. Background: Brief context of the transaction and property ownership history
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Description: Detailed legal description of the property including address, dimensions, and registration details
5. Purchase Price: Agreed purchase price and payment terms including deposit and installment schedule
6. Payment Terms: Detailed breakdown of payment structure, timelines, and method of payment
7. Completion Date: Specified date for completion of the sale and transfer of possession
8. Seller's Obligations: Responsibilities of the seller including providing clear title and necessary documentation
9. Buyer's Obligations: Responsibilities of the buyer including payment and due diligence obligations
10. Property Condition: Current condition of the property and any agreed repairs or modifications
11. Title and Transfer: Provisions regarding clean title transfer and registration process
12. Representations and Warranties: Statements of fact and promises by both parties regarding the property and transaction
13. Default and Remedies: Consequences of breach and available remedies for either party
14. Governing Law: Specification of Pakistani law as governing law and relevant jurisdiction
15. Execution: Signature blocks and witness requirements as per Pakistani law
1. Financing Contingency: Required if purchase is contingent on buyer obtaining financing
2. Islamic Finance Provisions: Required if transaction involves Islamic financing arrangements
3. Property Inspection: Detailed terms for property inspection if not conducted prior to contract
4. Tenant Rights: Required if property is currently tenanted
5. Construction Completion: Required for properties under construction or requiring specific modifications
6. Foreign Investment: Required if buyer is a foreign national, addressing specific legal requirements
7. Power of Attorney: Required if either party is acting through an authorized representative
8. Force Majeure: Optional clause for unforeseen circumstances preventing contract completion
1. Schedule A - Property Details: Detailed property specifications, boundaries, and included fixtures/fittings
2. Schedule B - Payment Schedule: Detailed breakdown of payment installments and due dates
3. Schedule C - Property Documents: List of all property papers and certificates to be transferred
4. Schedule D - Outstanding Liabilities: List of any pending utilities, taxes, or other charges
5. Schedule E - Property Inspection Report: Findings from property inspection if conducted
6. Appendix 1 - Property Photos: Current photographs of the property and any defects noted
7. Appendix 2 - Property Title Documents: Copies of relevant title and ownership documents
8. Appendix 3 - Site Plan: Official site plan and property measurements
Authors
Property
Completion Date
Completion
Deposit
Purchase Price
Title Deed
Transfer Deed
Seller
Buyer
Business Day
CNIC
Encumbrance
Force Majeure
Land Registry
Local Authority
Mutation
Possession
Property Documents
Registration Authority
Stamp Duty
Transfer of Property
Vacant Possession
Fard-e-Malkiat
Sale Deed
Due Diligence
Earnest Money
Development Authority
Building Plan
NOC
Payment Schedule
Property Tax
Utilities
Fixtures and Fittings
Inspection Report
Islamic Financing
Musharakah
Diminishing Musharakah
Title Search
Warranties
Occupation Certificate
Completion Certificate
Purchase Price
Payment Terms
Title Transfer
Property Inspection
Due Diligence
Representations and Warranties
Seller Obligations
Buyer Obligations
Completion and Possession
Default and Remedies
Force Majeure
Registration and Stamp Duty
Property Documents
Condition of Property
Utilities and Taxes
Islamic Finance Compliance
Encumbrances
Insurance
Dispute Resolution
Governing Law
Assignment
Notices
Severability
Entire Agreement
Amendment
Time of Essence
Survival
Property Access
Risk Transfer
Local Authority Compliance
Construction Completion
Indemnification
Termination
Real Estate
Banking & Finance
Legal Services
Construction
Property Development
Islamic Finance
Insurance
Property Management
Legal
Real Estate Operations
Property Management
Compliance
Documentation
Islamic Finance
Property Valuation
Transaction Processing
Risk Management
Client Relations
Real Estate Agent
Property Lawyer
Legal Counsel
Property Manager
Real Estate Broker
Mortgage Officer
Islamic Banking Specialist
Property Valuation Expert
Compliance Officer
Real Estate Transaction Coordinator
Property Documentation Specialist
Title Examiner
Real Estate Investment Manager
Housing Development Officer
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