A Guide for Selling Property in Pakistan

When it comes to the sale of a house, it is easier as compared to buying a property. If the property is at a prime location, with all the facilities and amenities, it becomes really easy to sell the property at your desired price. We will discuss all the steps that are involved in the sale of a property in Pakistan. So theta the process becomes easier for you.

  • Initial Research

Before placing a property on sale, it is important to learn about the current market. The rise and low of the market hugely impact the price of the property. To estimate the price of the property explore the market. You will realize that the price must have drastically changed from the price you bought it at, even if recently. 

  • Finding an agent

After you have researched and set a price for your property, the next step is to search for a reliable broker or agent. You can place a house, flat, Homes For Sale in Islamabad quite easily through the newspaper, online website or simply ask your broker to do so. If you manage to find a competent broker or agent, you half od worries disappear right away. However, we warn you to say from scams. It is better to find an agent among the people you know. After finding an agent, you can communicate about the commission which is commonly one percent. 

  • Receiving Token Money

After finding a buyer who agrees on the deal, you have to ask the buyer to pay you the token money. This money symbolizes that the buyer is willing to purchase the property. Then the potential buyer has to receive a photocopy of the original documents of the property so that they can verify. In case, the land comes under land development authority, they will show you and the buyer the record for verification. 

  • Preliminary Deposit

After verification od document you must a bayana, the initial deposit. You also sign a stamp paper which states that the time period for payment of purchase price, other conditions and the fact that if you decide not to sell, you have to deposit twice the amount of bayana. 

  • Applying for NDC

Apply for the No-demand certificate before the day of sale. This document ensures that you have no unpaid dues. You can get one from the office of a housing society or land development authority. 

  • Paying Taxes

When selling land within the two years of purchase, Capital Gain Tax has to be paid by the seller. For tax-filer, it is one percent and for non-filer, it is two percent of the total property value. 

  • Transfer procedure

This is the last but most crucial step of all. The presence of a seller as buyer parties must be present on the decided day. First of all the buyer pays the price of the property in the form of pay order. Then the officer transfers the title of the property to the buyer’s name. A letter pf transaction is with all details is issued by the officer. After this, buyer and seller, visit the local registrar. At this office, the seller, in presence of the witness and buyer, acknowledges that he or she has sold the property to the seller on terms agreed by both parties. Then the registrar tells the land development authority to transfer the title to the buyer and make other changes in the record. 

The process of purchasing and checking Homes For Rent in Islamabad, real estate property can be tiring. But it is especially difficult for those who are dealing for the first time. If you are one of them or you are exhausted by this process, you can visit the website ‘Gharbaar’ and contact the team for expert advice. The competent team will help you explore the best options for real estate property. No matter which type of property, you will it easier to make a deal through ‘Gharbaar’. 

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