The Buyer Broker Agreement is a crucial document used in Pakistani real estate transactions when a property buyer seeks professional assistance in identifying and acquiring property. This agreement formally establishes the relationship between a broker and their client, typically used when engaging in significant property transactions whether residential or commercial. The document comprehensively outlines the broker's duties, compensation structure, and term of service, while ensuring compliance with Pakistani legal requirements including the Contract Act 1872 and provincial real estate regulations. It protects both parties' interests by clearly defining expectations, responsibilities, and dispute resolution mechanisms, while accommodating specific requirements of the Pakistani property market and legal system.
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1. Parties: Identifies and provides full details of the broker and the buyer, including their legal names, addresses, and registration details if applicable
2. Background: Explains the context of the agreement, including the buyer's intention to purchase property and the broker's qualification to provide such services
3. Definitions: Defines key terms used throughout the agreement for clarity and legal certainty
4. Appointment and Scope of Services: Details the formal appointment of the broker and comprehensively lists all services to be provided
5. Term and Termination: Specifies the duration of the agreement and circumstances under which it can be terminated
6. Broker's Rights and Obligations: Lists all duties, responsibilities, and rights of the broker during the engagement
7. Buyer's Rights and Obligations: Outlines the buyer's responsibilities, including cooperation requirements and information provision
8. Compensation: Details the broker's fees, commission structure, and payment terms
9. Exclusivity: States whether the arrangement is exclusive and any related conditions
10. Confidentiality: Specifies obligations regarding confidential information shared during the engagement
11. Limitation of Liability: Defines the extent and limitations of the broker's liability
12. Dispute Resolution: Outlines the process for resolving any disputes between the parties
13. Governing Law: Specifies that Pakistani law governs the agreement and identifies relevant jurisdiction
14. Execution: Formal signing section including witness requirements as per Pakistani law
1. Property Requirements: Used when the buyer has specific property requirements that need to be documented
2. Multi-Party Provisions: Include when multiple buyers are involved or when the buyer is a company requiring multiple authorizations
3. Digital Communications: Include when parties agree to use electronic communications for official notices
4. Religious Compliance: Include specific provisions ensuring compliance with Islamic banking principles if required
5. International Considerations: Include when the buyer is foreign or international property searches are involved
6. Sub-Agency: Include when the broker may need to engage other agents or sub-brokers
7. Force Majeure: Include detailed force majeure provisions if operating in areas with significant political or environmental risks
1. Schedule A - Fee Structure: Detailed breakdown of all fees, commissions, and payment terms
2. Schedule B - Property Requirements: Detailed specifications of the type of property the buyer is seeking
3. Schedule C - Broker's Credentials: Copies of broker's licenses, certifications, and relevant qualifications
4. Schedule D - Service Level Agreement: Detailed description of service standards and response times
5. Schedule E - Excluded Properties: List of properties or areas explicitly excluded from the agreement
6. Appendix 1 - Required Documents: List of documents required from the buyer for property transactions
7. Appendix 2 - Communication Protocol: Agreed procedures for regular updates and communications
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Development
Commercial Property
Residential Property
Real Estate Investment
Property Management
Construction
Banking and Finance
Professional Services
Relevant Teams
Legal
Real Estate
Compliance
Property Acquisitions
Investment
Operations
Business Development
Contract Administration
Risk Management
Property Management
Relevant Roles
Real Estate Broker
Property Agent
Real Estate Agent
Property Consultant
Legal Counsel
Compliance Officer
Property Manager
Real Estate Director
Investment Manager
Business Development Manager
Contract Manager
Real Estate Portfolio Manager
Property Acquisition Manager
Chief Investment Officer
Real Estate Operations Manager
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