Good morning. I am a land seller in DHA and I have a 50K token from a buyer by a merchant. The merchant never signed any conditions on his office letterhead. He just shared the 50K deposit ticket with me. I also sent him my copy of NIC and forms to have DHA`s property checked. DHA did not verify this because the signature did not match its registration. In the meantime, I received a better offer from another buyer. Can I cancel the first deal and return the token money because I didn`t have a written agreement and I sell it to the new buyer? However, it is not mandatory. You can also write the act yourself. Real estate contract formats in Pakistan are readily available online.
You can find them on the Portal of the Punjab Land Record Authority Registration of Deeds. If you are dealing with an agent registered with the company in which a property is located, the details of the contract are written on the agent`s header. These include information on token money, buyer`s name, land number, name, size and price of property, and the period during which the buyer must make the remainder of the payment. Well, the next question you can ask is whether the token money will be refunded or not? The token is usually followed by a Bayana. This instrument serves the same purpose as the token. Unlike the latter, it makes things a little more official, as it is usually coupled with a written agreement. Bayana is a formal agreement written on stamp paper, with the corresponding conditions set by the buyer and seller. It is usually paid a week after the money of the token. Conditions include the transfer period of ownership and payment of the balance, which is often between 10 and 30 days, but which may be longer. Do you have any other questions about the transfer or sale of real estate in Pakistan? If so, you can share it with us by sending an email to firstname.lastname@example.org. You can also go to the Zameen Forum for an in-depth interview on the subject.
www.zameen.com/blog/a-step-by-step-guide-to-selling-your-property.html In accordance with DHA Karachi`s guidelines, even if the vendors sign the agreement before the designated DHA, they own the building unless the documents are officially transferred. In the event of a dispute with the buyer, the property can be re-validated on your behalf within the allotted time. However, you cannot claim the property if you have transferred the documents to the buyer. For more information, you can also take a look at how to sell and buy real estate in Pakistan. Only the person who can sign a contract can legally transfer the property to Pakistan. Under the Contracts Act of 1872, a contract is “a binding agreement between two parties.” So what is token money? Tokens is a small amount of money that must be paid by the buyer in reference to a serious intention to buy a property. The money from the tokens is paid by mutual agreement between the buyer and the seller on the sale price. In most cases, the deal is facilitated by an agent who has the seller`s verified contact information. DHA Karachi is a popular housing company.