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For Sale By Owner Commission Agreement Template for Pakistan

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Key Requirements PROMPT example:

For Sale By Owner Commission Agreement

"I need a For Sale By Owner Commission Agreement for my residential property in Lahore, with a 2% commission rate and exclusive rights for the agent for 6 months starting January 2025, including a 30-day protection period after termination."

Document background
The For Sale By Owner Commission Agreement is utilized in Pakistan when property owners wish to maintain primary control over their property sale while engaging professional real estate services for specific aspects of the transaction. This document is essential for establishing clear terms of engagement between property owners and real estate agents, defining commission structures, and outlining respective responsibilities. It operates within the framework of Pakistani property and contract law, incorporating necessary provisions from the Contract Act 1872, Transfer of Property Act 1882, and relevant real estate regulations. The agreement typically includes detailed property information, commission rates, payment terms, marketing responsibilities, and protection periods, while ensuring compliance with local legal requirements for property transactions.
Suggested Sections

1. Parties: Identifies and provides full details of the property owner and the real estate agent, including their legal names, addresses, and contact information

2. Background: Explains the context of the agreement - that the owner wishes to sell their property and engage the agent's services for finding a buyer

3. Definitions: Defines key terms used throughout the agreement including 'Property', 'Commission', 'Listing Period', and 'Qualifying Sale'

4. Appointment and Authority: Establishes the agent's appointment and specifies their authority to market and facilitate the sale of the property

5. Property Details: Detailed description of the property being sold, including its legal description and current condition

6. Commission Structure: Specifies the commission rate, calculation method, and conditions for when commission becomes payable

7. Payment Terms: Details when and how the commission payment will be made, including any deposit requirements

8. Agent's Obligations: Lists the services and duties the agent agrees to perform

9. Owner's Obligations: Specifies the property owner's responsibilities and commitments

10. Term and Termination: Defines the duration of the agreement and conditions for early termination

11. Dispute Resolution: Outlines the process for resolving any disputes between the parties

12. Governing Law: Specifies that the agreement is governed by Pakistani law

13. Execution: Formal signing section with space for signatures, witnesses, and dates

Optional Sections

1. Protection Period: Defines a period after agreement termination during which the agent remains entitled to commission for specific buyers they introduced - include when working with experienced agents

2. Exclusive Rights: Grants the agent exclusive rights to sell the property - include when specifically negotiated

3. Marketing Budget: Specifies any agreed marketing budget and cost-sharing arrangements - include when the owner will contribute to marketing costs

4. Sub-Agents: Allows and regulates the appointment of sub-agents - include when the agent may need to involve other professionals

5. Force Majeure: Addresses unforeseen circumstances preventing performance - include in regions with political or economic instability

6. Confidentiality: Includes provisions for handling confidential information - include for high-value properties or sensitive sales

Suggested Schedules

1. Schedule A - Property Details: Detailed description of the property including lot number, dimensions, and included fixtures and fittings

2. Schedule B - Commission Rate Structure: Detailed breakdown of commission rates, including any sliding scales or special conditions

3. Schedule C - Marketing Plan: Outline of the proposed marketing activities and timeline

4. Appendix 1 - Property Documents: List of property documents provided by the owner to the agent

5. Appendix 2 - Required Disclosures: Any mandatory disclosures required under Pakistani law

6. Appendix 3 - Property Photos: Recent photographs of the property as referenced in the agreement

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions





























Clauses






























Relevant Industries

Real Estate

Property Development

Legal Services

Property Management

Construction

Housing Finance

Property Investment

Relevant Teams

Legal

Real Estate

Sales

Business Development

Compliance

Property Management

Contract Administration

Risk Management

Finance

Operations

Relevant Roles

Real Estate Agent

Property Manager

Legal Counsel

Property Developer

Sales Manager

Business Development Manager

Contract Administrator

Property Consultant

Real Estate Broker

Compliance Officer

Transaction Coordinator

Property Valuation Expert

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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