Website design By BotEap.comBuying real estate is one step in diversifying your investment portfolio. Not only will you have a mix of investment types, but you have the assurance that whatever happens with one investment will not be the same with the other, and therefore you can protect your income. If you are looking for a property, you may want to check out the Pakistan real estate industry. The sector has been growing steadily in recent years and with the decline in mortgage loans, it is an attractive place to invest.

Website design By BotEap.comForeign

Website design By BotEap.comForeign buyers should not be discouraged from buying property in the country. While the process involved is lengthy, closely following the requirements would ensure a smooth transaction. Foreign buyers who wish to buy or rent a property must provide a valid passport, a copy of the CNIC real estate owner / agent, certified copy of the property, valid contract and an employment contract in case the buyer works for a company . These are just some of the requirements that the government requires when buying and selling a property.

Website design By BotEap.comProperty purchase

Website design By BotEap.comBuyers should thoroughly check the property they are purchasing to make sure the property is clean and the property in the property actually resides with the seller. Deeds of sale are the best way to determine if the property is not encumbered and can be found with local authorities. It is crucial that buyers review the property to avoid penalties from the government.

Website design By BotEap.comProperties in Pakistan are governed by various laws and regulations of the province or municipality where the property is located. The most important law buyers should consider is the Transfer of Property Act of 1882, the Stamp Act of 1899, the Land Revenue Act of 1967, and the Registration Act of 1908. These laws outline the legal requirements and the responsibilities that may arise when buying or selling properties.

Website design By BotEap.comIn order for the title to be transferred to a new owner, a deed of sale or “Bay Nama” must be registered with the government registry office. The deed of sale must have a stamp tax attached. Stamp duty shows the percentage of the property’s transaction value and differs based on the size and value of the property itself. In modern homes, a simple award letter is sufficient proof that the property is legally transferred to the buyer.

Website design By BotEap.comFor buyers who are not sure how to proceed with the transaction, they can hire a lawyer or a “Mukhtar-e-Aam” to help them with the legal process. As always, it is important that buyers guarantee the authenticity of the Deed, as well as the authorities of the lawyer with whom they conduct business transactions to ensure that all transactions are valid and legal.