House for Sale in Pakistan | Sell & Transfer Property Guide

If you are new to the Pakistani real estate market, you may think about how to sell a property. Many property affiliates in the country have been saying for a long time that the job is hard. However, you no longer have to worry about this problem. This blog tells you everything you need to know about a house for sale in Pakistan. You may want to check it out now and then.

What is the Procedure for a House for Sale in Pakistan?

You need to know what a property transfer is in the first place. Also, what is involved in the process of a house for sale in Pakistan? Experts at Kainaat Realtors can help you.

What does a House for Sale in Pakistan Mean?

A person owns a piece of land when he has the title. A house for sale in Pakistan means property transfer. It means transferring a property title to someone else. This change can happen in more than one way. It does not always refer to a sale. It can also cover the mortgage, gift, lease, and exchange issues.
In the same way, there are many kinds of properties. Kainaat Realtors can help you find the best house for sale in Pakistan. Real estate is usually only about immovable things.

What is an Immovable Property?

As the name suggests, immovable property is a property that cannot be moved without being changed. Usually, it is something stuck to the ground; for example, a house for sale in Pakistan. If you move it, it will change in many ways. It can be land, houses, apartments, shops, and similar buildings or structures.
Land, apartments, and a house for sale in Pakistan are all immovable properties.

Who can Transfer a Property or a House for Sale in Pakistan?

Only specific individuals can legally transfer property ownership of a house for sale in Pakistan. It is open to everyone with the skills necessary to sign a contract.
Legally, the property can only be given or taken away by someone who can sign a contract. The Contract Act of 1872 says that a contract is an agreement between two parties that is legally binding.

Who cannot Sign a Property Ownership Contract?

The following cannot sign a contract:

At the moment, this means someone under the age of 18 in Pakistan.
Someone who does not understand what their actions will lead to. It can be because of a long-term or short-term mental disability or something similar.
Sometimes, the law prohibits you from signing a contract.
In Pakistan, you can only transfer property if you are over 18 years old, have a clear mind, and the law does not forbid you from signing contracts.
A contract needs to be clear and agreed upon by the majority. Kainaat Realtors can guide you through the whole process.

How to Get a House for Sale in Pakistan?

Read the following guide if you are finding a house for sale in Pakistan to buy.

Token and Bayana
Most of the time, this is the first step in moving property and a house for sale in Pakistan. The possible buyer gives the seller a small amount as a “token.” The buyer pays to show that he wants to buy a house for sale in Pakistan. After this, we will discuss the property in more detail, negotiate, and take some practical steps.
So, the seller stops negotiating the sale of the property with other possible buyers for the time being. If the selling does not go through, the token is returned, with the right amount taken out.
The word “bayana” usually comes after the token. It does the same thing that the token did. Unlike the token, it makes things a little more official. It usually goes along with a written contract.

Property Sale Agreement

The format of a property sale agreement in Pakistan includes the following:
All the information about the property,
How will the house for sale in Pakistan be transferred?
The total amount of money that the seller is giving up in exchange for the house for sale in Pakistan,
The date when the buyer will pay the total amount of money for the house for sale in Pakistan (after bayana and token.)

Documents Needed to Own Property in Pakistan

You will need to organize your paperwork for a house for sale in Pakistan. Here is a list of the documents you will need for your property:
Pictures of the two sides (buyer and seller)
Copies of the parties’ national ID cards (NIC).
The first copy of the seller’s title deed
The title deed is a piece of paper that shows that the seller is the owner of the house for sale in Pakistan.
Sale deed. It is the contract that both the buyer and the seller have signed. It is, of course, an essential document about the house for sale in Pakistan.

Miscellaneous Documents

The other property documents depend on where the property is in Pakistan. It may have the following papers:

Record of Rights (Fard-e-Malkiat): It is also called Fard. The seller can get it from the office that records the property. It is a guarantee from the office of registration that the seller owns the property.
Certificate of No Demand (NDC): This paper proves that you don’t have to pay anything for the property. Your local development authority may have it, depending on where your property is or the places where people live, like DHA or Bahria Town.

Housing Societies’ Paperwork
If you live in a housing society, you usually need a letter from the society. It is a substitute for Fard in private housing schemes. Most of the time, societies make things much easier for sellers and buyers. At the society offices, there is a system in place to help with the transfers. The housing schemes have to keep track of who moves in and out. So, any change will have to be made with the help of the society’s administration.

Purchasing Stamp Paper and Paying Taxes
Lastly, you need stamp paper to write the sales deed, which is the selling contract. The price of stamp paper will depend on how much the property is worth. At that time, you will also have to pay the due taxes. Mostly, the buyer pays for them.
Most of the time, you will have to pay the following taxes. These are the percentages of a property’s value:
3% Stamp Duty
2% Capital Value Tax
1% Fee to the District Council
Most of the time, it costs PKR 500 to register.

Write the Deed of Sale for a House for Sale in Pakistan

You should hire a deed writer or an attorney to write the sale deed for the house for sale in Pakistan. They have been doing this for a long time and know what must be in every deed. It can help keep the parties from getting into trouble in the future.
Moreover, you can write it down yourself easily. There are property sale agreement templates for a house for sale in Pakistan easy to find online. You can find them on the Registration of Deeds portal of the Punjab Land Record Authority.

Sale Deed Execution

Lastly, you will go to the sub-office registrar with the sale deed written on the stamp paper and the other documents listed above. A magistrate or sub-registrar hears both sides. Then, the person makes sure that the sales deed and the transfer completion. Then, he registers the deed. Once the sub-registrar filed the sale deed, the transfer is done.

Some Useful Advice for a House for Sale in Pakistan

In the above guide, you can learn how to transfer property through sales. But a person who has never bought or sold a property in Pakistan before may have other questions:
How do you find the right type of real estate dealer for a house for sale in Pakistan?
What is the average commission amount for a real estate agent in Pakistan?
How to search for the right property type?
How to set the right price for a house for sale in Pakistan?
What are fair prices for real estate in Pakistan?
What should you watch out for when buying a house?

The Price of a House for Sale in Pakistan

If you want to know how much a house costs in your area, you can ask Kainaat Realtors or look at our website. You can compare the prices of homes in Pakistan, your city, and your neighborhood, so you will know what to expect.

Commission for Real Estate Agents in Pakistan

In Pakistan, no law says how real estate dealers and agents should do their jobs. In Pakistan, the real estate agent commission is a matter of tradition. It depends on the agents and the house for sale in Pakistan.
Real estate agents usually get a commission of 1% of the property value from both the buyer and the seller. The same agent receives both clients’ commissions if they use the same.
But they do not have to ask for just 1%. Some agents may ask for as much as 2% of the property value. Or, they may be happy with a much lower amount that stays the same no matter how much the house for sale in Pakistan costs.

Some of the Best Places to Find a House for Sale in Pakistan

Some of the most up-to-date housing societies are in Lahore. So, if you want to buy a house here, you should know that these groups are the key to finding a house for sale in Pakistan. There is a list of the best societies to save you time and effort.

Bahria Town, Lahore

One of the best places in Lahore is Bahria Town. Many people say that Bahria Town is the best to find a house for sale in Pakistan.
It is the best place to find a house for sale if you have a reasonable budget because society gives its investors many options. Also, Bahria Town is not just a nice place to live in Lahore. It is also a nice place to live in Islamabad and Karachi.
The infrastructure of the society is stunning and among the best in the world. Moreover, Bahria Town Lahore is near Canal Road. So, it makes it easy to get there. The city is also safe and sound. Moreover, Kainaat Realtors can help you find multiple options there if you want a house for sale in Pakistan. Every entrance, park, and building on a block has a CCTV camera. People who know what to do monitor all the cameras.

Advantages to Find a House for Sale in Pakistan, Bahria Town

Society promises to have gas, electricity, and water available 24/7. The housing scheme also has hospitals, parks, restaurants, and other high-tech facilities. Moreover, it has the best sewer system. Lastly, you can invest in more than just homes in society. Kainaat Realtors can also help you buy commercial properties.

DHA
DHA, or the Lahore Defence Housing Society, is a well-known group that does not need explanation. It is a posh area of Lahore. Kainaat Realtors have listings of houses for sale there.
Even though homes here are not cheap, many people want to live there because it is well taken care of. There are several blocks and sectors in the housing complex. Phase 1 is the oldest, and blocks 6, 7, and 8 are the newest.
DHA is the best place to invest your money if you want a long-term investment. In this society, the value of land never goes down. It means that you do not have to worry about losing money in any way.

Choose the Best House for Sale in Pakistan

The places we discussed above are some of the best places to live in Lahore. All of the groups are legal and are okay with LDA. You can even do your research on it if you want to. If you cannot decide which society to invest in, it is best to go to each society on your own at least once. The visit will help you learn more about everything and make the right choice about whether or not to move to Lahore. You can also check the listings at Kainaat Realtors.

Lahore’s Life
Even though Pakistan’s health care system is far behind that of many Western countries, people living in Lahore will be happy to know that as the second largest city in Pakistan, Lahore has some of the best facilities. But people who buy a house for sale in Pakistan should get comprehensive private health insurance because the public system has a lot of problems and can take a long time to respond.

Lahore’s Healthcare

Farooq Hospital, Fatima Memorial Hospital, Haleema Memorial Foundation Hospital, and Shaukat Khanum Memorial Cancer Hospital & Research Centre are the most well-known private hospitals in Lahore. Expats can go to any of these hospitals. Common medicines are easy to find, but if you need a specific prescription, you should stock up on it before moving to Lahore.

Schools in Lahore

The American International School, The International School of Choueifat, and the Scarsdale International School are the most well-known international schools in Lahore. All these schools are best for the children of expats who live in Lahore. Lahore is known as the educational capital of Pakistan. Therefore, it has a lot of universities, many of which are in the top 10 in the country.
Government College University, Forman Christian College, the University of Punjab, and the University of Engineering and Technology are the most important universities. Because Lahore has a high-tech economy, many students stay in the city after graduation. These former students are a part of the city’s thriving economy.

How to Move Around in Lahore

Lahore is the only city in Pakistan with public transportation that runs all day. It includes the bus system, private taxis, and rickshaws, all of which are quick and cheap ways to get around the city, especially in the city center, where traffic can be a problem for car drivers. So that the city does not get too dirty, taxis and buses use fuels that come from natural sources.

Public Transport in Lahore

The public transportation system is also better equipped and run than similar systems in other parts of Pakistan. It has a fleet of new buses and features like e-ticketing. If you buy a house for sale in Pakistan and want to drive, you can use your foreign license for six months. After that, you will need a Pakistani license. One of the best things about Pakistan is its road system, but traffic can be a problem, especially during rush hour and in the city center.

Choosing the Right House for Sale in Pakistan

If you are interested in a house for sale in Pakistan as a buyer, doing research can make all the difference. It will help you find the right kind of property, in the right places, with the amenities you need. You can also start in that direction from Kainaat Realtors.

Find a House for Sale in Pakistan

Look at the property listings for different areas, projects, or housing schemes. Moreover, check the prices and compare them. Also, read the listings’ descriptions and look at the photos and videos available. You can also call or email the listing agents or owners to discuss your options.
See the property once you have chosen a few good options. It will give you an idea of how good the location is and what kinds of things are nearby. You can meet the Kainaat Realtors’ agents, people from the society, the owner, and your neighbors from a house for sale in Pakistan. Lastly, you can check to ensure the property is in good condition.