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Documents you need to sell your House

Documents you need to sell your House

Before you put your house up for sale, you must gather all the documents related to your home, including information related to your legal documents. A copy of your sales contract from the moment you bought your property, a copy of your deed and the title report, your property tax information, including your most recent bills; survey reports, etc. Sale Deed: One of the main documents of purchase of legal goods is a registered deed of sale which serves as proof of sale/transfer of the property of the last seller to you. Mother Deed: A deed is required at the time of sale of a property because it establishes the sequence of sales or transfers leading to the seller's property by the property. If you do not have an original, you must produce a certified copy by the registration authorities. Latest Receipt of Property Tax paid: The owners have to pay taxes. Make sure the previous owner has paid the property taxes and there is no pending deadline. Property tax receipts also help to prove the legal status of the property. Power of Attorney: This document is necessary to prove that the sale or purchase of a particular property is carried out by an authorized person in the name of the owner of the property. This must be produced in original to obtain a mortgage. Copy of a Building Plan: A buyer must obtain a copy of the construction plan approved by the official body to establish that the construction of the property is legal and is done in accordance with the rules and regulations in force. Allotment Letter: A letter of the subdivision is one of the most important documents for obtaining a home loan. It is issued by a developer or housing authority, indicating the property description and details of the amount paid by the buyer to the developer. Remember that a letter of attribution is not the same thing as a sales contract. Sale Agreement: This document lists all kinds of property information - terms and conditions, date of possession, payment schedule, specifications, details of common areas and facilities, etc. The agreement also holds the developer responsible for building the property. Possession Letter: This document is provided to the buyer by the developer and fixes the date on which the letter will grant him possession of the goods. The original of this document must be produced for obtaining a mortgage. Payment Receipt: Collect the original payment receipts from the developer if you buy a new property. If you are buying a resale property, ask for a copy of the vendor's receipts to be submitted to the bank. Completion Certificate: This document is necessary to obtain a mortgage. This document establishes that the building is built according to an approved plan.

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Brace Yourself for Inflated Prices with Dollar Hitting all Time High

Brace Yourself for Inflated Prices with Dollar Hitting all Time High

Brace Yourself for Inflated Prices with Dollar Hitting all Time High in Pakistan Since the beginning of the year 2019, Pakistani rupee has been heading down the slope with the dollar escalating along the upward trajectory, gaining an astonishing value of 157.1 against Pakistani rupee. In the last few days, the graph of the rupees’ power against US dollar decelerated, losing 5% of its value against US dollar, thus making it the worst performing country in 13 currencies in Asia. Since the beginning of the dark clouds of inflation on the economy, the rupee has lost 21% to its value to the dollar. This deprecation started a long time ago as, by the mid ‘70s, it lost 50% of its value to dollar and almost 90% in ‘90s. However, the nation is set to face the wrath. According to the President Forex Association of Pakistan Malik Boston, the rupee is expected to undergo further devaluation by 15-20 % by the end of this year. “Until the foreign exchange reserves situation improves, there is no chance of the dollar coming down,” he said. Experts and analysts believe that the sudden devaluation of the currency against the dollar is due to the consensual, undisclosed commitment of the government with International Monetary Fund (IMF) authorities to release $6 billion funds. However, the State Bank of Pakistan deemed this downward plunging of the PKR to market dynamics. The uphill surge of the greenback puts a burden on the economy of the country not only individually but collectively on the whole nation with external debts shooting to set a record of $106 billion. If the dollar gains 1 rupee against Pakistani currency, it increases the total debt by an astonishing amount Rs100 billion. A weak rupee, against the US dollar, means inflation which not affects every aspect of quality of life of Pakistani citizens. Inflation spiked to 9.9% in May 2019. Increased rates of petroleum products, household items, electricity, food, transportation, crashed stock exchange, and fragile cottage industries struggling to survive puts an extra burden on the weak shoulders of the general public of Pakistan where the poverty ratio is already striking high. The domestic price of imported goods will nudge up further, crashing the whole market. The government proposed that devaluation of rupee will boost exports business, getting escalated value of their items than before. However, there is an increment of only 0.12% export since 2018, thus proving the government claims false and illogical. Inflation upsurges affect the poor the deepest both directly, by increasing the prices of daily household items and indirectly, by not affording the medical and educational facilities. Pakistan’s economy faced a major setback in industrial, agricultural and services setup. NEPRA increased the electricity tariff by Rs. 1.4902 per unit to collect 189.6 billion rupees from power consumers over the next fifteen months. The prices of 24 karat gold ballooned by Rs2700 on Friday, 15th June 2019, soaring the 1 tola price to Rs 75900 as compared to the previous trading price of Rs 73200. The State Bank of Pakistan lifted the interest rates of 12.5% saying,” the inflation pressure is set to continue for some time”. Nevertheless, it also stated, “It will continue to closely monitor the situation and stands ready to take measures, as needed, to address any unwarranted volatility in the foreign exchange market.” The positive feedback of the upturned value of the dollar and rising inflation rates has put the economy of the country in a vicious cycle. Zafar Parcha, Secretary General of Exchange Companies Association of Pakistan, claimed that the depreciation led to haunting the investors and created a panic situation by heaping more pressure on the currency. $10 billion have already been added to Pakistan’s debt since September 2018. According to econometric models, if the same trend continues in the open market then the debt is expected to increase to $123000 by the year 2020. A new wave of inflation is set to engulf the country, putting more pressure on the people of Pakistan under the rising weight of prices in NAYA Pakistan and dumping its economy into a swamp. The State Bank of Pakistan must monitor the increasing trajectory to greenbacks against the Pakistan rupee and correct the imbalances ignore to stabilize the economy of the country. The government cannot do much to avoid depreciation when needed, but they can make them less dramatic by allowing a more flexible exchange rate regime.

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An alert for asset declaration before the end to amnesty scheme

An alert for asset declaration before the end to amnesty scheme

An alert for asset declaration before the end to amnesty scheme, Declared by Federal Board of Revenue The federal board of Revenue has demanded a declaration of assets through the asset declaration scheme. The scheme is in the form of amnesty, which means that the past offences of not paying taxes on the owned but undeclared properties or asset will be ignored. The ignorance is only granted for the past offences but once the asset is declared, the owner has to pay full tax for the current and upcoming years. The amnesty is granted in a way that a very reduced percentage of tax is subjected to be paid to the government without any additional fines or surcharges or penalties such as imprisonment. It has been disclosed by the Government of Pakistan that the federal board of revenue is fully aware of every misconduct that is going on. They have updated records of the property holders and in case someone is still not ready to gain benefit from the amnesty scheme of asset declaration will face trial and charges. The time limit has been issued and now it's an alert moment for those who are ready to declare their assets by using the benefit of asset declaration. Prime Minister of Pakistan has assured that the tax obtained from this scheme will be used to pay off heavy debt. He referred this debt as Quick Sand for Pakistan and the tax collected will help Pakistan to pull itself out from the depths of poverty. The last date for asset declaration through asset declaration scheme is 30th June 2019. In case any person failed to declare their assets on the given date will be subjected to a default surcharge for which the person will be liable otherwise strict action will be taken by the Federal Board of Revenue. According to the Federal Board of Revenue whoever is facing consequences due to the non-declaration of assets have to face full penalty with the payment of taxes at a full rate without any amnesty. As well as the person will be charged to the imprisonment of seven years or more under the Benami Transaction (Prohibition) Act, 2017 and up to five years of imprisonment under the act of Income-tax ordinance 2001. Tax is subjected to the fair market value of the asset and in case of any revision, the value of the asset cannot be decreased. In case the value is decreased the owner is subjected to pay tax on the previous amount that was relatively higher than the current amount. Benefits for the person who is declaring assets before 30th June under Amnesty Scheme: Ignorance on the past offences of not declaring assets, expenditure, and sales to the government. Ignorance on the past offence for not paying taxes to the government and a minimum tax rate will be applied to the declared value of assets. The subjected person will be safe from humiliation and penalties If a person is a non-resident of the state of Pakistan, he or she can still take advantage of the amnesty scheme and declare their assets. A person can declare their foreign assets and business under this scheme as well. NADRA has shared all of the details of every citizen to the federal board of revenue and database is available to be accessed by the citizen to check where they need to declare their assets or not. This is subjected to a fee of 500 Rs and any citizen can check up on their records from NADRA. The last date for the declaration of assets, expenditure, and transactions through the amnesty scheme is June 30th, 2019. No extensions are planned to be granted until now and whoever will delay will face charges and penalties. The declaration will be done according to the act of Income-tax ordinance 2001 and Benami Transaction (Prohibition) Act, 2017. The declaration of assets can include the justification of sources of finance as well.

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The new finance bill have high penalties for the tax offenders

The new finance bill have high penalties for the tax offenders

The time has come for those who were not paying taxes on their enormous wealth. Now the government of Pakistan has made it clear through their new law that every citizen who is an owner of a property is liable to declare its value and pay a certain amount of tax to the income tax authority. The last date of asset declaration under the amnesty scheme is 30th June 2019. After 30th June strict actions will be taken against those who have done a legal offense of not declaring their assets. According to the new finance bills, those who haven’t declared their properties according to the Benami Transaction (Prohibition) Act, 2017 and Income tax ordinance 2001 will be facing multiple types of penalties which are approved by the parliament of Pakistan. Section 182 of income tax ordinance has been revised and the finance bill for 2019 have shown a massive increase in the penalties which range from Rs. 25000 to Rs 100,000. Especially for those who are non-filers will be subjected to the payment of minimum Rs 40,000 due to non-filling of their tax returns. If a person has calculated their returns with errors and submitted it without correction will be penalized for the amount of Rs. 30,000 or more. Next, if a person was liable to furnish a return but failed to do so will be paying a penalty of 0.1% of the taxable income every week or amount of Rs. 100,000 whichever is higher until he is done with the submission. If the error in the calculation is repeated and this mistake is done in a single year than the person is subjected to pay a penalty of 3% or Rs. 30,000 whichever is higher. This penalty is charged on the person when the taxable amount is higher and tax payment is less than what it is supposed to be paid. According to the finance bill 2019, any person who is involved in the purchase of any immovable asset and it's market value is higher than 5 million rupees. In this case, if the payment is done through cash or bearer cheque then the person has to pay 5% as a penalty upon the property price determined by the government. For the offshore investment offense, the investor will be paying a penalty of Rs. 100,000 or 200% of the amount of tax for which the person was charged an offense. The payment will be done to the appellate tribunal under the income tax ordinance 2001. Movement of a property from a specified region or territory to any unspecified region or territory is also subjected for a penalty. The amount for such penalty is equal to Rs. 100,000 or 100% of the amount for the tax payment whichever is more will be paid to the income tax authority or the appellate tribunal. Finally, If any person is involved in any sort of offense of offshore tax hedging as an advisor or guide is subjected to a penalty of Rs. 300,000 or 200% of the amount of tax which was advised to be evaded, whichever is more. The amount of penalty will be submitted to the income tax authority or the appellate tribunal. Any person who is liable of filing a tax return and intentionally failed to do so or have submitted a return in which declared the value of assets are less than the fair market value is subjected as an evader of law. Under the income tax ordinance, all offenders and evaders will be penalized after the given date of submissions which is 30th, June 2019. No files will be entertained with the amnesty scheme and after that and heavy fines will be imposed on the offenders.

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How can I verify property registry legal documents before making the offer or buying the property

How can I verify property registry legal documents before making the offer or buying the property

How can I verify property registry/legal documents before making the offer or buying the property? Property matters are sensitive and even a slightest miscalculation or negligence can result into big loss that can be irreparable in many cases. It is said that real estate business never goes out of ‘business’ because people are always buying or selling different kinds of property. Karachi, Lahore and Islamabad are the major cities of Pakistan and the main target of people looking to buy plots, houses, shops and other property for residential and investment purposes. As the business has quite a widespread approach and scope, it is also open to huge scams and frauds, researches and reports are enough to witness how fragile property matters are and little mishandling can go a long way. There are multiple ways of getting your papers verified before buying a property, some of the main ways of doing it include: 1. Hiring a Lawyer or Real Estate Agent or Company People prefer having a real estate agent and property lawyer to handle the matters and some property agents and real estate companies also offer this service. Finding a good property manager and lawyer is no less than a blessing because choosing the wrong people to work with will waste your time, efforts and investment. Understanding legal property matters is no common person’s language because of which people hire lawyers and specialized agents to handle these matters. There are many property lawyers and agents in Karachi, Lahore and Islamabad that work in this area and helping people with their property matters, some research and you will definitely find your legal match. 2. Verifying the Documents Yourself It is good to have some knowledge about the documents and papers you need to verify before purchasing the property. To know the legitimacy of the seller and if the sold land is legal and as per the property and land laws of Pakistan, you will need to check the following details and documents: Title Deed: Title deed is one of the main documents of any property; it is a legal way of ascertaining that the seller owns the property legally and have all the rights of selling it. Mother Deed: Mother Deed is the evidence and proof of ownership that traces the origin of the property and explains how the property came into the owner’s possession i.e. through family heritage, through parents, as a gift or purchased by self. It is an important document and in case its missing, the seller must obtain certified copies from concerned registered authorities. Sale Deed: A sale deed is a main legal document that acts as a proof of transferring of property from the seller to buyer. It is important to register the deed after the sale agreement and other compliance and clauses are checked and agreed up on. It is the responsibility of the seller to clear all statutory payments like water, electricity, maintenance charges etc. before signing the sale deed. Intimation of Disapproval: The documents are mandatory for under construction and newly constructed housing societies. The documents include several approvals and permissions like No Objection Certificate (NOC) from various concerned local authorities. Commencement Certificate: This is a legal document issued by local authorities to confirm the legal status of the housing society or the property for sale. It verifies the property or project is as per the government criteria and is legitimate. Building/Project Designs Approval Document: For newly built societies and properties, it is essential to have the layout plans and designs approved by the local authorities. Homeowners and people investing in new societies should see it first as it confirms that the designs are according to the legal criteria. Purchase Agreement: Purchase agreement is the legal agreement between the buyer and seller, or the developer, and contains details like the project conditions, apartments, payment terms, deadlines, penalties etc. Completion Certificate: The Completion Certificate is issued by the local bodies and confirms that the property, or the housing society, is in compliance with the government’s criteria in terms of area, distance from road, height and the proposed design plan. Occupancy Certificate: Occupancy Certificate is acquired by the builder after the completion of the building; once a builder applies for an Occupancy Certificate, an inspector comes from the local authority to check the building and if it is built as per the government’s and approved plans’ design. Other than these, many other details should be considered carefully before making the property purchase. 3. Online Verification Online verification system has eased the documents verification system, which means that now you can verify the property possession and ownership through online system. in Karachi, Sindh Revenue Board and in Punjab, Punjab Land Records Authority have developed an online portal where you can insert details like CNIC number, khata number, khewat number etc. to know about the ownership. About Jagaonline.com Jagah Online works with different property developers and direct owners and sellers who are interested in selling and investing in property. We screen them rigorously and offer the documents verification services for potential buyers.

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How to Check If a Property Has Any Claims or Liens Like Bank Loans Disputes Taxes Water Electricity Telephone or Gas Bills against It Am I Liable To Pay Any Such Standing Payments

How to Check If a Property Has Any Claims or Liens Like Bank Loans Disputes Taxes Water Electricity Telephone or Gas Bills against It Am I Liable To Pay Any Such Standing Payments

How to Check If a Property Has Any Claims or Liens Like Bank Loans, Disputes, Taxes, Water, Electricity, Telephone or Gas Bills against It? Am I Liable To Pay Any Such Standing Payments? Do you have your eyes set on that house or shop that you are so desecrate to buy? Have you checked the property properly? For people living in Karachi, Lahore and Islamabad and even in other cities and towns, it is not a new thing of knowing people who bought a property some time back and are now facing legal issues regarding its title claims. Besides title claims, many properties have unsettles payment issues that the seller cleverly transfers to the buyer without their knowledge. Property liens are common in real estate matters and people get to know about them only after they have actually bought the property. What are Liens? Liens are the standing payment associated with a certain property when the owner fails to pay its liabilities or bank loans. Other liens could be the land conflict, multiple tiles claims, fraudulent history, unpaid utility bills etc. in case the owner is unable to pay the liabilities the bank or court holds the right of selling the property to recover its payment. People are usually are usually aware of all this but still, innocent, especially first time buyers are duped by fraud agents and sellers who sell conflicted property and the buyer has nowhere to go. To avoid such circumstance, it is advisable that you research the property in detail and make sure that it is clean from any kinds of liens. Property liens are of four types: Property Tax Lien: This lien is associated with a property when the owner is unable to pay the due property tax. Each year, government puts tax on all the taxable properties, which is mandatory for the property owner to pay. In case, it fails to pay it on time, government puts tax lien on it and the owner has the risk of getting its property sealed. Mechanic’s Lien: This lien is applied when the homeowner has not paid the third parties like property builder, site workers, material; suppliers, engineers, contractors etc. and they have filed a lawsuit against him. Judgement Lien: This type of lien includes court cases in which the owner of the property is liable to pay money to the other party. This money is recovered by auctioning or selling the owner’s property, which also means that it is illegal for the owner to sell the property. Mortgage Lien: In foreign countries, people apply for mortgage to buy houses and in our country taking home loans from banks is similar to it. People obtain home loans to buy or build their houses, which is to be paid as instalments in the bank. In case, the owner does not pay the settled instalments, the bank holds the rights to restrain the property. How to know if the property is clean? Checking the property before buying is crucial and there are some clever ways of knowing if the seller is being honest and truthful with you. Some of the easy ways are: 1. Asking for Recent Tax Receipt Want to know if the property is having any tax liabilities or liens? Ask the seller for his recent tax payment receipt. Government issues payment receipt to the taxpayers when they pay the tax, which means that if the owner has the receipt there are good chances that the property is clean of any tax liens. It is advisable to ask for the copy of the receipt and confirm if it is authentic from the office because many people forge false receipts. 2. Asking for Recent Utility Bills Utility bills include Sui gas, electricity, water and telephone bills, non-payment of which may lead to the charge of lien on the property. When checking the property, ask for the recent paid utility bills from the seller and get the copy to check it from the concerned departments. If you mistakenly buy a property with standing utility bills, chances are that you will be expected to pay them. 3. Asking for Original Property Papers In case the seller has unpaid bank loans, the seller will not have the original documents as the bank keeps them with itself as a security. If you get the original papers, check that they have complete documents including the title documents, sale deed, mother deed etc. to prove their legal possession of the property. Get the copy of the documents and get it checked from legal resource to confirm its authenticity. 4. Checking from the Concerned Departments Once you get the copies of all the documents with you, contact the concerned authorities like land records, registrar, utility bills records etc. to confirm that the papers are real and there are no liabilities on the property. 5. Consulting the Lawyer Probably the best advice you could get on property matters. Hiring a lawyer takes off the burden from you as you will not have to do the work yourself and let the lawyer do all the work. Lawyers are experienced professionals that know how to check properties, dig out important information and give helpful advice and help, making them an ideal for the matters. Am I liable to pay any such standing payments? A simple answer to it is no. You are not liable to pay the standing payments and liens of the property. In case you end up buying any such property then, do not panic and consult an expert lawyer to handle the matters. About Jagahonline.com Jagah Online is an online real estate property management listing that helps potential and serious buyers with real and serious sellers. Our properties include residential and commercial properties like houses, flats, shops and land that are available at reasonable rates. Browse through our listing or give us a call to communicate your needs.

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How to Transfer the Property after Making an Offer or Selling the Property

How to Transfer the Property after Making an Offer or Selling the Property

How to Transfer the Property after Making an Offer or Selling the Property? Looking for some assistance regarding property transfer matters? Property or land transfer can be of multiple kinds; for example, property transfer may be due to inheritance in which property is transferring from father to children, it could be in the form of gift in which the property owner surrenders the possession and gives it away as a token or gift to someone and property transfer can be the result of buying it. We assist aspiring home and property buyers in finding and buying residential and commercial property in Karachi, Lahore and Islamabad. Buying a property is no less than a success and transferring of property is the final and main part of deal, which occurs after final and full payment, in case of housing societies and shops and after immediate full payment in case of agricultural land and property. Transferring of property is a sensitive matter and a slight mistake is enough to ruin and waste the entire investment. Therefore, it is good to have an experienced property management source at hand to take care of the matters. However, some crucial steps involved in the transferring of property are: 1. Conducting Primary Research Before pricing and setting up your property for sale, do a primary research of the property and its market value. A property’s market value is based on a number of factors like the area, the type whether it is a residential or agricultural land, the surrounding area and its value and its government rate. Every property has a fixed government rate, which means that it is the minimum price for your property. Before putting up your property for sale, research and determine these factors to prevent pricing your property more or less than its actual worth. Same goes if you are looking to buy a certain property, look for its worth before deciding the price. 2. Find a Real Estate Agent or Consultant You can sell or buy a property yourself on your own but getting into property matters without proper and in-depth knowledge involves several complexities and technicalities that you may not be aware of. Hiring a real estate expert will save you from the potential dangers and shortcomings that are part of the real estate business and will help you find the right seller or buyer. Agents and consultants work on commission and settling the percentage beforehand is always better than keeping it as an after the deal matter. As a seller, provide the property information like the total area, rooms and household facilities and arrange a visit for the agent. After complete information and survey, give the photocopy of property documents as a proof. As a buyer, explain your requirements, preferred area and land and price range for his guidance. 3. Token and Initial Payment After you have found the buyer or seller, it is time to move the deal further by giving token money; token money is the symbol that both the seller and buyer are serious about the property and the amount is not fixed and it is entirely on both the parties that how much they wish to keep as a token. After token, the property is removed from the on sale list and the seller gives a photocopy of the property’s papers for verification. When being a buyer, make sure that you receive complete documents for verification, go through the list of required documents in this blog, and get it verified from the Sindh Revenue Board and Punjab Land Records Authority. After verification, the buyer pays bayana to the seller; bayana is 25% of the total price of the property and in case the seller wants to annul the agreement, he has to pay double the bayana as a penalty. 4. Filling of the Stamp Paper At the time of bayana, official stamp paper is filled; stamp paper filling is an essential step in the property buying and selling process and cannot be ignored at any cause. The standard is been set by the government and is to be followed at any cost. The stamp paper details the statement of both the parties that they have sold or bought the property in the fixed amount. In case if the payment is to be paid after some time, then the duration is mentioned in the stamp along with the penalty in case the buyer fails to pay in the agreed up on time period. It may also include other details decided as mutual consent and understanding. 5. No Demand Certificate (NDC) No Demand Certificate (NDC) is acquired from the local housing society, if you are buying a property in a housing society or your city’s land development authority. The certificate details that the seller does not have any standing or due payments and the taxes that are applicable on the seller and the buyer as well as the transfer fee and stamp duty. After receiving the certificate, the seller is to give a copy of it to the buyer. 6. Final Payment and Title Transfer The buyer will pay final and full payment to the seller; as a suggestion, the payment should be done at a safe place like inside the bank or the office. Once done, all the rights of the property are transferred to the buyer’s name, however, before complete handing over of the property there are some payments on part of both the parties that are to be cleared including Capital Gain Tax applicable on the properties sold within the two years of its purchase, transfer fee, stamp duty TMA and CVT tax. 7. Statement of Sale before Registrar After the final payment, both parties present in front of the registrar and declare mutual selling and buying of the property. At this point, the registrar asks the buyer and seller if they have received the payment or the property successfully and the agreement is done on mutual consent. Afterwards, the registrar orders the local land record officer to change the land ownership title and verifies the documents issued on the new owner’s title. About Jagahonline.com Jagah Online is a leading online real estate marketplace that deals in the selling and buying of commercial and residential properties. All of our dealers are registered agents and we register properties after doing thorough research and examination. Contact Jagah Online today to find your dream property!

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Is It Possible To Have Property Lawyer To Manage The Entire Property Selling Or Buying Procedure How Much Do Property Lawyers Cost

Is It Possible To Have Property Lawyer To Manage The Entire Property Selling Or Buying Procedure How Much Do Property Lawyers Cost

Is It Possible To Have Property Lawyer To Manage The Entire Property Selling Or Buying Procedure? How Much Do Property Lawyers Cost? Is it possible to work with a property lawyer for the entire property buying or selling process? Yes it is possible and we highly recommend you to hire a professional and skilled lawyer for the procedure. Many homebuyers, specially the first time buyers, consider having a real estate agent enough for a successful and stress free residential or commercial property selling and buying. However, if you know someone who has been through these matters will most likely suggest you to hire a property lawyer for the purpose. In Karachi, Lahore and Islamabad, you will find a number of good property lawyers that are professional and experienced of handling real estate matters. You can do the job yourself also, after all it needs is to advertise about your required property or contact a consultant for it and wait for the right offer. However, remember that real estate matters can be tricky to understand and handle and the process can be quite time and efforts consuming as well. Many people have tried to do it themselves and where you will find successful examples; you will also find cases where people end up buying defaulted properties and facing the consequences. Especially in Karachi, Lahore and Islamabad, where there is a huge number of such cases, hiring a professional property attorney is a must. Some benefits of hiring a property lawyer for your real estate transactions are; 1. They are Experienced and Skilled Probably the most crucial advantage of working with a property lawyer is that they are highly skilled at handling such matters. Attorneys gain the experience and skill with tough training and exposure to different kinds of cases, which give them insight into the matters that a common person is unaware of. Every man is skilled at something and a property attorney is skilled at helping you deal with your property matters and this you must accept. Instead of trying to handle the selling and buying of your property yourself and taking the risk of landing into any trouble, it is better to leave all this to a professional. 2. They know the Legal Technicalities Property documents are filled with legal jargons that are quite difficult to understand and chances are that you will end up signing the papers without properly understanding them. A property lawyer will help you understand all the terms of the contract and aware of any pitfalls that may end up you into any possible property rifts. In Karachi, Lahore and Islamabad there have been many cases in which people mistakenly bought conflicted properties and spent thousands of rupees in lawsuit. Therefore, it is important and safe to employ a legal resource to prevent any such situation. 3. They know how to inspect the Property No property transactions are complete without detailed property inspection and research. Property research includes checking for the property title claims or any other conflicts that can adversely affect your real estate matter. No matter if you are buying the house or shop from an individual seller or in a housing scheme, keeping a property attorney at the base of everything is key to success. Many buyers in Karachi, Lahore and Islamabad that are cheated by con agents and sellers bought land with multiple title claims or liabilities due to which their money is wasted and they end up in serious trouble. A skilled property lawyer will research the property in terms of title, liens and liabilities, bank loans, contactor claims or anything that could be a hurdle for you. 4. They help with Complex Contracts Property purchase involves a number of important steps and procedure like preparing and getting the sale deed, purchase agreement, signing the title claim and other documents etc. In case of buying a property in a housing society, checking documents and certificates like the buyer builder agreement and payments terms along with other documents is a part of the process and can affect you in many ways. This process of understanding the property papers can be even difficult if you are buying it from a company that has multiple partners or is a trust or corporation as the negotiations and terms and conditions would be lot more complex. A property attorney will know which papers to check and tell you the terms and conditions in simple language and do the changes if something is not right. 5. They help with Proper Closing Closing of the deal involves many steps and is equally important as the buying process itself. Many buyers are in a rush of just paying the price and getting the possession of the property and this is where con sellers and property agents take advantage. Proper closing of the deal saves you from future liabilities and miscalculations. Closing of the deal includes making new property papers, transferring of the title from the seller to the buyer, paying of the property price, appearing in front of the registrar and land records officer and a closing statement that details about the price of the property, handling and taking over by the parties. Without a professional resource like a property lawyer, you run the risk of not understanding the process properly and landing into some future trouble. 6. They make the Process Stress Free Hiring a property attorney will make the whole process easy and stress free, at least for you. Just imagine all the work and efforts that you will have to put into the process and that also without any expert knowledge. Finding the right property, finding the right and legal seller, doing the paper work, understanding the legalities and doing numerous other tasks while still being unsure if you have not missed anything. A legal attorney is fully capable of taking care of this entire in a lot better manner and you can be absolutely sure that nothing is left unattended. How much do property lawyers cost? Now this is the question that anyone who is looking for a property lawyer has in its mind, how much will it cost to hire a property attorney? It depends. Lawyers’ services charges depends and varies from city to city and from case to case also’ where a lawyer charges few thousand rupees in a small town, village or city, the fee can go higher in cities like Karachi, Lahore and Islamabad. Second, it also depends on the complexity of the matter, a simple case will charge less than a complex or conflicted land case. About Jagahonline.com Looking for a great residential or commercial property? Jagah Online lists properties from a number of real estate agents and property managers who are looking for serious buyers. We have houses, land, flats and shops at prime locations from where you can choose the best property for yourself. Browse through the available properties

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