Factors to be considered before Purchasing Property in Pakistan
When purchasing property, it is important to consider the following:
- whether the property is clear of any liens, encumbrances, or charges from a third party
- whether the seller has full and absolute possession of the property
- whether the seller has a full and absolute title to the property
It's important for you to know that there are two types of frauds that are commonly committed
against buyers by sellers in Pakistan. The seller may refuse to receive the agreed-upon sale proceeds,
or they may flat-out deny having entered into a Sale Agreement with the buyer in relation to the
property in question. This leaves the buyer with no other choice but to take the seller to court in
order to get them to uphold their end of the agreement. That's why it's essential that the Sale
Agreement is written in a way that will offer maximum protection for the buyer.
When drafting a Sale Agreement, it is important to take into consideration the specific requirements
of each case. The terms and conditions of the sale should be in accordance with current property
law, and each transaction should be completed through a banking instrument.
It is of utmost importance that, when entering into a Sale Agreement with the Seller, a full
examination of the revenue record is conducted to determine the present status of the property, as
well as the title and status of the seller. This is to avoid any potential challenges by a third party in
court that would cause serious inconvenience to the purchaser down the line.
At Burhan & Associates, we offer extensive due diligence services to clients who are looking to
purchase property in Pakistan. We will draft a Sale Agreement that outlines the best terms and
conditions to protect you and your investment. If you are paying for your property with hard-earned
money, you want to make sure the transaction is done correctly to avoid any future legal issues or
fraud.
At Burhan & Associates, we pride ourselves on being able to offer our clients a thorough and
professional property investigation service so that they don't have to worry about fraud or other
issues. All you need to do is give us a call, and we'll take care of everything for you.
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