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Home Sales Agreement
"I need a Home Sales Agreement for a newly constructed 500-square-yard house in DHA Lahore, with a structured payment plan spread over six months until March 2025, including provisions for Islamic financing compliance."
1. Parties: Identification and details of the seller and buyer, including full legal names, CNICs, and addresses
2. Background: Context of the sale and brief description of the property being sold
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Description: Detailed description of the property including address, dimensions, boundaries, and registration details
5. Purchase Price: Agreed purchase price and payment terms including installment schedule if applicable
6. Payment Terms: Detailed breakdown of payment structure, deadlines, and method of payment
7. Seller's Representations and Warranties: Seller's declarations regarding property ownership, encumbrances, and condition
8. Buyer's Representations and Warranties: Buyer's declarations regarding financial capacity and understanding of purchase terms
9. Closing Process: Steps and requirements for completing the property transfer
10. Transfer of Title: Process and obligations for transferring property title
11. Taxes and Expenses: Allocation of transaction costs, taxes, and fees between parties
12. Default and Remedies: Consequences and remedies for breach of agreement terms
13. Governing Law: Specification of Pakistani law as governing law and relevant jurisdictional details
14. Notices: Process for formal communications between parties
15. Execution: Signature requirements and execution process
1. Islamic Law Compliance: Statement of compliance with Islamic principles of property transaction, required when parties wish to ensure Shariah compliance
2. Property Inspection: Details of property inspection process and findings, included when inspection has been conducted
3. Financing Contingency: Terms related to buyer's financing arrangements, included when purchase depends on mortgage or loan approval
4. Possession Date: Specific terms about when and how possession will be transferred, if different from closing date
5. Utilities and Maintenance: Responsibilities for utilities and maintenance during transition period
6. Broker Representation: Details of real estate brokers involved and their commissions, if applicable
7. Force Majeure: Provisions for unforeseen circumstances preventing contract fulfillment
8. Dispute Resolution: Alternative dispute resolution procedures, if parties prefer arbitration or mediation
1. Schedule A - Property Details: Detailed property specifications, including floor plan and boundaries
2. Schedule B - Payment Schedule: Detailed breakdown of payment installments and due dates
3. Schedule C - Property Documents: List of property papers and certificates included in the sale
4. Schedule D - Fixtures and Fittings: Inventory of items included/excluded in the sale
5. Schedule E - Outstanding Liabilities: List of any pending dues, taxes or charges on the property
6. Appendix 1 - Property Photos: Recent photographs of the property and its major features
7. Appendix 2 - Property Title Documents: Copies of relevant title and ownership documents
8. Appendix 3 - NOCs and Permits: Copies of necessary No Objection Certificates and permits
Authors
Property
Purchase Price
Completion Date
Completion
Deposit
Encumbrance
Force Majeure
Good Title
Possession
Property Documents
Registration
Seller
Buyer
Effective Date
Mutation
Transfer Deed
Stamp Duty
Title Documents
Fixtures and Fittings
Common Areas
Default
Due Diligence
Earnest Money
Notice
Parties
Payment Schedule
Permitted Use
Business Day
Closing
Governing Law
Land Revenue Records
NOC
Outstanding Charges
Purchase Deed
Registry
Sale Deed
Terms and Conditions
Transfer of Property
Vacant Possession
Valuation
Witness
Zoning Laws
Property Tax
Capital Value Tax
Property Description
Purchase Price
Payment Terms
Deposit
Title and Ownership
Property Registration
Representations and Warranties
Due Diligence
Conditions Precedent
Transfer of Title
Possession
Closing Requirements
Property Inspection
Seller's Obligations
Buyer's Obligations
Tax Obligations
Default and Remedies
Force Majeure
Indemnification
Assignment
Notices
Governing Law
Dispute Resolution
Amendment
Severability
Entire Agreement
Further Assurance
Costs and Expenses
Compliance with Laws
Insurance
Property Maintenance
Utilities Transfer
Broker Commission
Termination
Islamic Law Compliance
Registration Requirements
Real Estate
Legal Services
Banking and Finance
Property Development
Construction
Insurance
Property Management
Professional Services
Public Sector
Legal
Real Estate
Property Management
Sales
Compliance
Finance
Documentation
Customer Relations
Risk Management
Operations
Real Estate Agent
Property Lawyer
Legal Counsel
Property Manager
Real Estate Broker
Bank Manager
Mortgage Officer
Property Valuator
Conveyancing Lawyer
Legal Document Specialist
Property Developer
Real Estate Consultant
Compliance Officer
Title Examiner
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