Overseas Pakistani Buying/Selling
This Guide seeks to enable Local and Overseas Pakistanis, as well as Foreigners wishing to invest/ buy property in Pakistan. Our top legal team will be more than happy to give you legal opinion or help you carry out due diligence for any property you wish to purchase in Pakistan. Our due diligence and legal opinion fees are reasonable and affordable and can help you avoid any fraudulent sellers.
While this brief is a guide to the purchase of real estate within Pakistan it does not take a legal stance and all guidelines herein should be undertaken under the guidance of your lawyer or attorney.
It must be mentioned that as per our experience in Pakistan, as a well-known Legal500 Law Firm, we have seen that many Overseas Pakistanis, have suffered badly in past by being cheated on relating to property issues. This has been contributed to several factors but not getting the best legal advice or trying to save money by cutting corners and scrimping on the legalities are major players contributing to such losses.
The following are very basic guidelines for Overseas Pakistanis to look at before even considering purchasing a property.
Avoid any company, which claims to come and visit your country of work or residency. While they sell this at a surplus the money will start racking up before you have even looked at the particulars of a property. You will be much better off dealing directly via electronic means with a company in the area where you want to buy.
Donʼt even consider those shiny property sales/housing society Ads, which are advertised on the TV and Facebook every other day or so. The cost of those ads is added onto the price of the properties, which are likely to be substandard at best, and also likely to go into litigation later due to lack of permits or clearance by the government.
In short, any Overseas Pakistani or Foreigner intending to pay any attention to the new, glamorous housing society advertisements, should be wary that these commercials have been purpose built to relieve overseas buyers of their hard earned cash. Getting tangled up with these builders and societies and their shenanigans can be a nightmare for those who live in Pakistan, never mind those who live overseas or are foreigners. Our Advice: Please stick to an established property with a titular history for a good price in a good area. Those ads on telly are the perfect time to put the kettle on, and honestly thatʼs all they are good for! if you have been approached by any such marketers, please contact a lawyer to conduct proper due diligence of these properties and so-called societies.
PURCHASING FROM THE OWNER
While this is the advised avenue to take for an Overseas Pakistani or Foreigner buying a property in Pakistan it is far from perfect unless you take the
precautionary measures that apply to residents. Do your homework thoroughly as mentioned right at the very beginning of this brief. Only by going back through the history thoroughly do you know that you are buying a property that the vendor is actually entitled to sell.
If you donʼt intend to travel to Pakistan to take care of the sale ensure that you give power of attorney to somebody you trust and not a company who claims to be working on your behalf. Selling a house that is essentially a blank file to numerous people at the same time is one of the best-known scams in Pakistani real estate. Do not be the next person to fall for this con. You should place two adverts in prominent newspapers stating your intention to buy whichever property has caught your eye. One should be in English and the other Urdu.This is effectively a public notice stating your intention of XXX property from XXX vendor and letting everyone know that if they have any claim, objection, attachment, lien, interest etc. they must inform either you, the concerned authority or your lawyer within 7 days. This can save you from many a headache down the line should the vendor have also promised the property to somebody else.
Even if the house you intend purchasing belongs to a friend or relative always protect yourself by inviting the public objections we have mentioned above. Never think that because you are buying from somebody you know, and probably trust, that there is guaranteed to be nothing awry.
The Importance of Power of Attorney.
It is not whether or not you should authorize power of attorney that is at question here, rather than who you give it to. It is amazing how often that good friend can turn into a wolf when there is money involved. A major issue is that in Pakistan there are so many ready made, one size fits all power of attorney texts that people seem to think applies to all scenarios and cover their backs; they donʼt. Granted, there are certain items, which need to be included in there by law, but on the whole every power of attorney should be unique and relevant to the reason why you are giving it in the first place. Do not sign anything until the text and its contents have been fully checked over by your lawyer. At Josh & Mak International.
We have the experience and expertise to oversee this entire process to ensure you have the cover and protection you need. Our clients are always our number one priority and our international standing among overseas Pakistanis is second to none.
The Services We Offer, These services apply to all clients, whether you live in Pakistan or not, as well as
Foreign Nationals. Whether you are looking to purchase a property or own one that is standing empty, not being looked after properly or is currently occupied by an unsavory tenant give us a call today to see how we can help you.
We leave no stone unturned to find the very best tenants for your property. This includes ads in leading newspapers and on reputable websites liaising with local agents etc.to ensure your property is occupied by the calibre of tenant you would choose for yourself.
We carry out the reference and background checks including their record relating to previous rentals.
The preparation of all legal documents pertaining to both purchases and rentals The issuing of eviction notices to tenants should they be needed and the filing of court petitions for evictions Taking on the full responsibilities should you choose us as your power of attorney allowing you to rest easy knowing that we will always be working both for you and with you The transfer, sale or purchase of properties in Pakistan.
The recovery of properties in terms of possession Pursuing property litigation within Pakistan where justifytitle and occupancy comes into dispute.The safest way to purchase or sell a property in Pakistan. In an ideal world everyone would engage the services of a lawyer in order to buy or sell property. However, way too many Pakistanis try to save themselves money by doing direct deals without getting all the necessary background checks done. Invariably, they will find themselves caught up in legal complications and instances of fraud further down the line, which will cost them so much more in the long run to put right.
The ONLY way to buy or sell property in Pakistan, which allows you to sleep easy at night, is to do so via a lawyer. Trying to save money by avoiding this step is asking for trouble and could see you end up being both out of pocket and without a property.
The Haven Green law chambers Team routinely advises its clientele on the sale, purchase or rental of all residential, commercial and agricultural properties. We will take care of the entire verification process as well as the registration of all title documents, the procurement of ‘Faradʼ revenue documents and sort out the Initial in the revenues records.
On the other side of the coin we will also initiate fast legal proceedings against those offenders who take part in the illegal possession of property, land grabbing and the transfer of property which has taken place by fraudulent means.