Aoa all!
All i want to know here is could you please list some issues which are faced by society in terms of buying property in pakistan.
Aqsa begum, kiyaa kiyaa btaayain, kiaa kiaa sunogay...
The list is quite long ever growing and horrifying to be realistic.
Regards
You can just pin point few if you can ! That would be very helpful.
Mr Khan, please unload it all. All those pent up social issues you have seen piling up - and which you have only kept in your heart all these years. Finally, it is time for release.
Aqsa G
Here is one historical, not anywhere else but right in Bahria Town!
My businessman friend who is running a multi-million Riyal business in Gulf, has gone through a painful fraud in BT Rawalpindi.
He bought a plot, registered and left Pakistan, relaxed and happy as it was BT.
The dealer, after buyer left Pak, who managed his buyout proceeded to BT office and informed them that there was a mistake in his father name: Dealer name and the buyer name were same…Mohammad Iqbal.
Requested for correction and correction was done… story ended then!Fraud perpetuated!
Now my friend cannot leave his business to file/fight a lawsuit against the culprit. He has just got the commercial license of his business and put all of his hard earned whole life savings. I asked him to hire a lawyer but He has written off this matter. He could, being well off, but suppose it would have happened with you, me, us……????
Extreme care must be taken even in BT and in DHAs when it comes to the Pak property and Pak dealers.
We both have no idea at all that how this bugger managed to change the ID card details???? A mistry….!!!
N.B: Friends who know me, they would also be knowing Iqbal Sahab: Please do not repeat this to him. I posted only in good faith as Aqsa seems to be a novice in this bzness.Mr. Iqbal would not mind as He is buddy but this is still his private matter.
I am not as knowledgeable as you are, but it is not only name there … Bahria takes a picture of the buyer and seller, your friend should have his allotment letter which has a picture of the owner too by the way. Then there is NIC number and address too. He would have paid likely with a pay-order from his bank account which should be easily traceable to the seller account. I think there are so many ways to prove this pretty easily in bahria’s office and shouldn’t need a court I think. It’s only a few hours flight from the middle east, he can’t even go for a few days. Anyway, may Allah help him
Musafar G
The same argumeng is mine but I did not dig in deeply as my friend feels pain when subject is brought up when we meet, although this loss is a peanut for him. He feels bad because He was cheated.
It seems there was a power of attorney or something but really the mode of fraud is not clear.
I can tell one thing of mine, though!
Two years before or a little early, I bought 5 Marla through my Pak dealer in BT sector M while being OUTSIDE Pakistan at 17 lacs. After one week still being OUTSIDE Pakistan I sold through the same dealer at 30 lacs. No ID, NO photo, no nothing! . This was very high time in BT.
It seems my buddy ended up doing the similar thing but dealing with a crook. My point of posting all this is to tell readers that situation like this COULD happen also!
I promise, if I am successful in getting the exact story, I shall post it here.
Musafar G
The same argumeng is mine but I did not dig in deeply as my friend feels pain when subject is brought up when we meet, although this loss is a peanut for him. He feels bad because He was cheated.
It seems there was a power of attorney or something but really the mode of fraud is not clear.
I can tell one thing of mine, though!
Two years before or a little early, I bought 5 Marla through my Pak dealer in BT sector M while being OUTSIDE Pakistan at 17 lacs. After one week still being OUTSIDE Pakistan I sold through the same dealer at 30 lacs. No ID, NO photo, no nothing! . This was very high time in BT.
It seems my buddy ended up doing the similar thing but dealing with a crook. My point of posting all this is to tell readers that situation like this COULD happen also!
I promise, if I am successful in getting the exact story, I shall post it here.
Aqsa, you must do your due diligence. Go to a reputable dealer and someone known to you or your freinds. Dont cut corners. If you sniff something “fishy” run for the hills. Generally speaking, there is no cheating or fraud on a large scale in Islamabad, provided you take care and do things as laid out in the procedures. I generally deal with DHA and CDA and have never had problems. Remember that property prices can go up or down over the short term, so if you buy something today and are selling a year later you may not make a profit: that is not cheating by anyone. That’s just market forces at play.
Very informative carry on guys
Mr Khan I am waiting for your list here
Regards
Thanks for the reply and explanation Abdul Qayyum sahib! I was saying that because when a fair, honest, hard working man is conned, one feels pain ... May Allah help him.
A question that I asked before on another thread and no one answered, hoping you might answer and yours will be the best reply as you seem to have an honest dealer. What do you pay as commission to your dealer on residential and commercial purchases or sales, could you please share? If you feel that it's not appropriate here then please email me a reply at musafar456@hotmail.com
Thanks
Musafar Sahib
I will now try to pursue my friend to tell me exactly how it happened. But one thing is 100% sure that there was father name change and it is also 100% sure that some NADRA officials are under investigation for fake ID cards. Now if one is grabbing a plot worth of 1 crores and one is also a determined bad guy, He would not mind to give away some lacs for a fake ID card!
Secondly, believe me, sir, I am not a dealer, nor do I want to be one. Regarding commission, I never paid more than 1% on my buyouts, selling and also on renting my property to my dealing office.
I always tend to be a little generous, if my dealers manage to give me good profit.
But having said that, I have horrible stories of losses as well but, Al-Hamdolillah, Summa Al-Hamdolillah, so far I gained more than I lost if I do aftermath encompassing my dealings since I decided to go in real estate business. I have also true stories of frauds in CDA as well but no recent one!
All I wanted to tell Aqsa that He/She must make sure about the dealing culture before jumping into this business.
Thanks Abdul Qayyum sahib! Is 1% commission reasonable for both residential and commercial transactions, or commercial should be more? Thanks again.