General Precaution

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General Precaution

Precautions to be taken before purchasing a valid property (Land or House/flat)

Since the procedure of buying residential property is usually intricate in nature .More-so, it differs from area to area, thus it is imperative to make sure before entering into any deal about purchase of property, that it is free from all encumbrances.

Here are a few checks by applying that you can protect your interest up to a maximum limit:

1. Ensure that the property is neither mortgaged with any bank nor under litigation in a court of law. {This can be ascertained by obtaining Non-encumbrance certificate from the office of the Sub-Registrar of the area concerned where the property falls.}

2. Ensure that seller has genuine title to the property.

3. Has no defective title to land, that might put into jeopardy the Seller under the law to dispose-off the property.{ This can be ascertained from the land allotting agency}.

4. To avoid legal complications, make sure that all the original documents with complete chain of title are in order and handy available with the Seller.

5. If the owner lives abroad, a power of attorney, duly certified by the Embassy or the Consulate General of Pakistan and registered with the area registrar is required.

Normally documentation varies from area to area and city to city, hence, is subject to the requirement of local authorities, such as the Clifton Cantonment Board, Defense Housing Authority (DHA), LDA in Lahore, CDA in Islamabad, Karachi Development Authority, and the other societies, functional in the area where the property is being purchased.

So, you must check the following documents before handing over token money or signing Sale Agreement:-

1. Allotment letter

2. Possession order

3. Site Plan and sub-divided site plan

4. All paid utility bills and challans

5. Approval and completion of the building plan

6. Completion certificate

7. Transfer/Mutation Order
[In case where sale deed is executed subsequent to Lease Deed]

8. Power of Attorney, duly executed in the office of the Sub-Registrar concerned.

In case the property under consideration is in territorial jurisdiction of DHA Karachi, specific documents required include Conveyance Deed, approval letter for water connection, assessment of property, Sui Gas and KESC installation sketch and test report, demarcation letter and form �A� sub-lease and form �B� lease.

For properties in Clifton shares certificates, sale or gift deed, and form �A� sub-lease and form �B� lease, are also required.

You also must take all original documents of the property from the seller, from acquiring the vacant plot up to completion certificate of the building at the time of making the final payment with peaceful vacant physical possession of the property.

To take out the risk involved in Sale/Purchase transaction it is strongly advised that do not avoid to consult any property matter dealer or advocate specialized in property matter about genuineness with chain of documents, as spending few thousand rupee is better to avoid loss of million for life time.