by jaydad 499 total views, 1 views today
The whole idea to eventually settle down in Pakistan from a first World country seems favorable enough if you have undertaken the expenditures and living costs in a true sense of the word. But the eventual settlement comes at a cost, which might involve property builders or housing schemes tricking you into dubious deal that renders nothing but sighs.
Folks, in an attempt to spare with the spending related to the legal matters, dive into the actual buying activity as if going around the due expenditures or being economical ensure a satisfactory process of owning a land or a property.
Askari Tower, Gulberg, Lahore
So here are few words that underscore the basics of completing the buying and owning process.
1) Companies that want to visit your country of work or residency ought to be avoided.
2) They might sell the property to you in exchange for a huge sum before you even have considered the details of the property. So do your homework in understanding the history of the property.
3) The services of a lawyer are necessary if you want to buy a property, which ought to have an established and credible history operating under an approved title.
4) Pay no attention to ads on telly that represent nothing but marketing of ambiguous and potentially unregistered properties, which can cost you a lawsuit as to the ownership dispute with people you have never met before or even considered to confront in a legal battle.
Gateway Mall Bahria Enclave, Islamabad
To purchase from an owner
The undisputed nature of property and the wordy scammers can talk you through any deal towards signing papers. The research of the history of the land might take good enough chunk of your time and effort, but the option of buying a property from the owners is by no means an ideal road to pursue.
It is advisable though to take this option with proper homework.
Finding someone you trust and can easily rely upon in the matter of finance is not only a blessing but also saves you a headache that some local company is in line to give you regarding the carrying out of a transparent buying process.
One of the most prominent scams in the country real estate market is the selling out of blank file properties, those which barely claim an owner or a legal claimer, hence the eventual buyer comes out on the other end without the two most important things, namely, the hard-earned money and the property itself.
In an attempt to find out someone who is affiliated to the concerned property in any way imaginable, here is a method you must adhere to, post two advertisements in well-read newspapers, one in the national language and one in English, stipulating the exact nature of the property you are interested in and the name of the vendor while also proclaiming to seek someone who has any claim or objection on, attachment, lien, interest in the property so that the carrying out of ownership phase goes on smoothly, involving a rigorous process to allot the property a sort of credibility that you want.
The potential respondent has 7 days to respond to the adverts if they have any objection to the property, which, as a tactic, will save you from later headaches you can never anticipate from standing on this vantage point.
Nova Homes, Multan
The only secure way to buy or sell a property in Pakistan
Very rarely do they sit down and attempt to calculate the bleak and horrendous conditions down the legal rabbit hole as they think of buying the property without any registered attorney or lawyer, and mind you there is no other legal method to perform the whole process without such officials, yet the people are adamant on going all alone.
Being economical is how we ax our chances of purchasing a tremendous property from a valid vendor who isn’t acting all hasty to get over the selling process, and no wonder they end up selling it for a mega sum without even making a bleep.
If foreigners want to rent or buy property in Pakistan, they must submit the following paperwork to the Pakistani government.
- A work letter from the organization where they are now employed, including the description of their position, the length of their tenure, and the firm’s contact information.
- A copy of their passport, as well as a copy of a valid visa, along with six passport-sized photos.
- They must also provide a copy of the landlord’s CNIC.
- Furthermore, the property owner in question must provide attested copies of proof of ownership.
- The rule mandates that a contract be drawn up in the name of the property’s occupiers. If a renter moves into the property, he is legally required to obtain a new contract or suffer severe legal repercussions.
The current procedure is demotivating, to put it mildly, and discourages outsiders from putting the money in Pakistan real estate. The government’s refusal to allow foreigners to freely buy and sell property in Pakistan under the guise of security considerations is rather lumpy, given the many deficiencies in our own security system. Throughout most instances, the administration is held accountable for fostering elements that adversely affect Pakistan’s security.
So, in my interpretation, the authority should only consider taking action as necessary and assist other foreigners who, after thorough examination, are found to present no threat to national security.
