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The Agreement Of Purchase And Sale Condominium Resale is a crucial legal document used in Pakistan for transferring ownership of previously owned condominium units. This agreement is essential when conducting secondary market transactions in residential or commercial condominium properties. It ensures compliance with Pakistani property laws, including the Transfer of Property Act 1882, Registration Act 1908, and relevant provincial regulations. The document addresses all aspects of the transaction, from property description and purchase price to payment terms and closing conditions. It includes specific provisions for condominium ownership rights, common area responsibilities, and building society regulations. The agreement is designed to protect both parties' interests while ensuring smooth property transfer and registration processes in accordance with local legal requirements and market practices.

1. Parties: Identification of the Vendor (Seller) and Purchaser with complete legal names, addresses, and CNIC numbers

2. Background: Brief context of the transaction and acknowledgment of the parties' intention to enter into the agreement

3. Definitions: Definitions of key terms used throughout the agreement including 'Property', 'Common Elements', 'Closing Date', etc.

4. Property Description: Detailed description of the condominium unit, including unit number, floor level, covered area, and share in common areas

5. Purchase Price: Statement of the total purchase price and payment structure including initial deposit and balance payment terms

6. Payment Terms: Detailed breakdown of payment schedule, method of payment, and consequences of default

7. Title and Ownership: Seller's warranties regarding clear title and property ownership status

8. Closing Requirements: Conditions to be met before closing, including documentation and regulatory requirements

9. Property Transfer Process: Steps for legal transfer of property ownership and registration procedures

10. Representations and Warranties: Standard warranties from both parties regarding capacity to enter agreement and property condition

11. Possession: Terms regarding delivery of possession and condition of property upon possession

12. Expenses and Taxes: Allocation of transaction costs, taxes, and utility charges between parties

13. Default and Remedies: Consequences of default by either party and available remedies

14. Governing Law: Specification of Pakistani law as governing law and jurisdiction details

15. Execution: Signature blocks and witness requirements as per Pakistani law