There’s no denying that for many people, owning a property or a house is a dream come true. However, it’s crucial to choose a reputable real estate agency to ensure a smooth property transaction. Additionally, it’s essential to have all the necessary legal documents in place when purchasing a property.
By doing so, you can avoid falling victim to scammers who may try to sell properties that are under dispute or not legally available for sale, thus safeguarding your hard-earned money. If you’re unsure about the required property documents in Pakistan for buying a house, this guide will provide you with all the necessary information. In this blog, we will comprehensively detail all the legal documents needed to purchase a property.
List of Property Documents in Pakistan to Purchase a Property
There are eight important legal documents in Pakistan that must be considered when purchasing a house.
Mother Deed
The mother deed is an important document in Pakistan, as it records all the changes in ownership whenever a property is sold. This document gives a complete list of all previous owners and details of past transactions. By checking this, you can be sure that you are buying the property from the rightful owner.
Approved Property Plan
The approved property plan is a key document in Pakistan, confirming that the property you are buying is legal. Since anti-encroachment drives are common in cities, this document shows that the property’s layout has been approved by local authorities, making sure everything is in order.
Power of Attorney
A power of attorney is helpful if the buyer cannot be present during the property purchase, whether due to being out of the city or country. This document allows the buyer to appoint someone else to handle the property transaction on their behalf, ensuring the deal can go ahead smoothly.
Completion Certificate
The completion certificate is issued after the entire process of preparing a property for sale is complete. This document is crucial for confirming that everything has been done properly. In cities like Islamabad and Lahore, the Lahore Development Authority (LDA) or Capital Development Authority (CDA) issues it, while in Karachi or Sindh, the Sindh Building Control Authority (SBCA) is responsible. Without this certificate, buying land is generally avoided in the real estate market.
Encumbrance Certificate
The encumbrance certificate ensures that the property has been legally registered by the seller and that there are no legal or financial issues. This document provides peace of mind that the property is safe and legal to buy.
Bank Approval Certificate
The bank approval certificate in Pakistan is issued when a buyer applies for a loan or financing for a property purchase. This document verifies that the bank has approved the property for a loan, making it easier for the buyer to proceed with the purchase.
Property Tax Receipts
Property tax receipts are used to check if all property taxes have been paid, ensuring there are no unpaid taxes. These taxes include Capital Gain Tax (CGT), Stamp Duty, Advance Tax, and Capital Value Tax (CVT).
Sale Deed
The sale deed is one of the most important documents when buying a property in Pakistan. It serves as an agreement between the buyer and the seller, detailing their names and the property’s price. The main purpose of this document is to confirm who the rightful owner of the property is. It is a mandatory document for purchasing a house.
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Conclusion
Purchasing property is a significant investment that necessitates having all legal aspects thoroughly organized. To ensure a smooth and secure transaction, it’s essential to have all necessary property documents in place, including sale deeds, mother deeds, encumbrance certificates, bank approval certificates, approved plans, property tax receipts, power of attorney, and completion certificates. These documents help buyers steer clear of legal and financial pitfalls. Always consult with a reputable real estate agent and legal experts during the process. With Saima Group Builders and Developers, you can confidently start your journey to home ownership, knowing you’re supported by a trusted and experienced team.