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A Detailed Guide To Buying A Property In Pakistan Without Fraud
Investments in real estate Pakistan can either be good or bad. You can make a fortune from a good property, while one can get stuck for years without a profit, or you can lose it. Most of that depends on your research, strategies, and often external variables, such as adverse policy or court rulings or delays in mega construction schemes.
Research is the key
Before you set your mind to buy any particular house in Real Estate Pakistan make sure that you do the proper research. Double-check the price of house that your real estate agent quotes to you. Another efficient and reliable way is to look for properties in online property portals such as Abaadee.com. They generate accurate results and gives you multiple choices to make your quest effortless.
Assess the market value of Property
The fair market value of a property determines what you would hope to earn if you sold it in private that day. This is important not only for sales but also to decide the stock and strength of your house.
• Start looking on real estate portal information about recent sales or other immovable data for your area. Bear in mind that this information is not necessarily completely accurate and you can gather information from different sources.
• Carry out a comparative business study on the property. A CMA can compare your house to equivalent properties and establish a comparative analysis of what your home may be worth, in comparison and identical, equal or identical properties.
Work with the Right Real Estate Pakistan Agent
This is the most essential aspect before you begin a property purchasing transaction. You can't believe whoever sits on the Real Estate Pakistan market. Start to pinpoint the established and licensed Real Estate Agents who had work for several years in the market. Try not to get enthralled by their lavish workplaces or skilled way of speaking.
Don’t forget to negotiate
It is important to ask your agent to schedule an appointment with the seller. It is safer to step away from the deal if you suspect your partner is trying to postpone the meeting. If the owner is already out of the country, you can ask your agent to allow you to talk with him before finalizing the contract.
Token money is essential to seal the deal
To finalize a deal, you have to pay 5 per cent to 10 per cent token money. At the time of the deal, keep in mind that you are not paying the full amount. It is also better if you pay nominal money as a check or pay the order, and seek to stop cash as far as possible.
Ink an agreement with an allotment or transfer letter
At the time of giving token money, it is easier to forge an agreement, and both sides will write down and sign all the terms. It is necessary to discuss commission, transfer and tax expenses with your seller so that you can prepare the amount accordingly.
Use Pay Orders for Paying
It is advisable to make the payments in the form of pay orders as there is no authorised record on cash payments. Try to avoid using cash to pay. To pay with pay orders always safer and stable. Ensure that all transition procedures are done before you give the pay order to the owner of the property. Don’t forget to Produce the copy of pay order, and have it signed to validate receipt from the plot holders.
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