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General Advice discussions and advice. Participate in ongoing dicussions and get invaluable General Advice advice from people who are experts in their industries or start a new General Advice discussion.
Kk
( 156 posts )

[15 Replies]
Estate and property lawyer we think found in US, Canada and other advance countries but not any more. So many of us sale/purchase house on stamp paper compiled by estate agent and both party signs and yes, Estate agent get his commission as well but does only stamp paper save you from all trouble?

Let me clarify from my own experiences. My auntie (khala if you understand Urdu) put her flat(which she purchase as investment) on rent and unfortunately her tenant refused to pay rent after some time and make fake papers of flat possession. Can't tell you what an trouble that was. After 2-3 years trouble she get back her flat possession and sell it asap and never purchase any property for investment point of view.

Recently my brother come from USA and bought an flat. Some body suggest him an lawyer of good reputation who also deals in property affairs.That was an very pleasant experience.He charges not much (Rs 50,000 and flat cost was 27 lac) but in that he draws all papers, verification and present in all negotiations. 2-3 times estate agents who showed us flats just run away when they see we come with own lawyer (nobody stupid enough to sell stinking fish to lawyer).

Finally my bro get flat but need to go back Saudi for job so put it on rent. That lawyer also draws rent papers, tenant sign in presence of him and we have no trouble at all. Rent deposit before 5th of every month in account (mention in papers all terms and conditions). It's really an good deterrent. You don't get gun to fire all the time but to discourage the peoples who have wrong ideas. Recently saw an house to purchase but party was living abroad and estate agent said sir we have power of attorney and original file.Sounds good enough? NO.

IN Karachi this become common practice to sell empty houses on fake papers who's owner living abroad for a long time.To me its price sounds wrong as he was offering 40% less than current market price so I contact that lawyer again and when he step in negotiations, after that meeting estate agent never contact me again even I call so many times. One more technique they ofter used. They goes to all this trouble to get 20,000, 50,000 or 1 lac as token amount (called biyana) and you have to pay it as tradition here after that he will provide you copy of file for verification.

They have no intention of selling the property at first place as cheating big amount call for big troubles and for minor amounts neither most parties don't press hard for prosecution nor the police and they can get away with it. It's just few of technique I have experienced first hand and God knows how many others they have so hiring an lawyer on your side especially for peoples who live abroad but want to invest here is good idea. Powerful can settle their matters themselves but Laws make to protect ordinary peoples so take this advantage.

    2660 days ago In General Advice
    Post Answer
    Kk
    (156 posts)
    First of all let me clarify one point. I have utmost respect of estate agents. They work so hard just for their nominal commission and showed so many parties so many houses but in recent down market they average wise sell/rent 1 house after showing to 100 parties so you can get the idea of their hard work. Most of them are very co operative and honest and I get some very good deals through them. But like all professions their is also some black sheep's and discussing their techniques openly have no harm to those honest and hard working estate agents and I think nobody appreciate more than them to this thread.
      2660 days ago 

      Shahzada Muh..
      (60 posts)
      Hiring & lawyer for property matters is a good idea at nominal price. Read this question 7 times you got answer. Truly l like your question. One think important nominal price mean nominal advice. In a big deal it's necessary one thing more I'm advocate.
        2650 days ago 

        Kk
        (156 posts)
        Not only Karachi is most expensive market, here documents verification is also expensive. Other offers verification for 40,000, and he did in 50,000 with all worked I mention so its fair. Secondly flat verification is more expensive than house/plot. Don't know why. For a house I was looking he asked not even 1 percent of property value so in my opinion it's good price. If you are dealing over 10 million deal its like to paid insurance premium.
          2649 days ago 

          Good Luck As..
          (3 posts)
          I think you have presented a very good idea. Most of the agents don't know the legal technicalities and even some times they don't know what's written in the agreement and what particular claw would save you from future trouble. But I wouldn't blame the agents, It's such a important field and I haven't heard of any institute/university that would offer some courses of real estate.No laws have ever been heard under or around which the agents would work.

          What's best would be to have agents who are educated and have good knowledge of legal issues as well. Even if its difficult for agents to understand legalities, Estate agencies should have contacts with good lawyers so that client would get all at one spot I am a real estate agent and i am very keen to bring advancement and education in our field so that proper respect could be given to our field.
            2649 days ago 

            Kk
            (156 posts)
            @Waqar Azeem

            Not a bad idea. Hire an in-house lawyer for helping clients give respectability to the estate agency too.These days so many lawyers so this idea not going to cost much (or hire on consultancy basis to come in evening and prepared and check documents and agreements) and you and your client will be covered from legal point of view as well. If you working in Karachi Posh areas,i think most of your clients going to welcome this idea and feel more comfortable.
              2649 days ago 

              Good Luck As..
              (3 posts)
              @KK

              Well I am already working this way in Islamabad though I myself have knowledge of legal issues but I still consult with my legal expert very often.
                2648 days ago 

                Kk
                (156 posts)
                At least someone break the traditional methods. Every business needs good ideas time to time
                  2647 days ago 

                  Irfan
                  (80 posts)
                  Very good point, any one know a good lawyer in Daska, Sialkot area?
                    2531 days ago 

                    Mr. Khan
                    (3 posts)
                    There are many compelling reasons to hire a lawyer in estate purchase matters including :-

                    1. Estate Agents know a little about documentations, their legal value etc. (for example power of attorney under the law NOW looses its worth after 6 months. A property bought on PoA older than that period can not transfer any right to the buyer.)

                    2. Agents since know a little about procedural law too, they have to give bribe to govt. officials as there are so many lacunas in the documents they prepare and to cover up these, they have to pay bribe, which goes from the pocket of BUYER. Additional burden on buyers.

                    3. After seeing a buyer coming with a lawyer, a govt official hardly press for bribe and you will get the documents done/registered within time.

                    4. A hired lawyer can tell you worth or legal value of documents. He can also tell you if the entire chain of documents necessary to establish legal title over the properly, is available or anything is missing.

                    5. A layman knows little about law, legal procedure, documentations etc. so its wise to hire an advocate and in that way you are mentally peaceful about your deal as regards to the title/ownership/documents etc.

                    If you want to get any further legal advise about property, feel free to contact: cornatto@yahoo com
                      2524 days ago 

                      Sheikh Abdul..
                      (1750 posts)
                      This is an interesting topic, which im glad i have come across this. From my own previous experience based on the pakistani legal system it is not worth disputing via court, hiring lawyers. I say this because it is not like the uk or us, where you have solid facts and go forward with the case, and eventually you find a winner and loser. In the pakistani politics they have this so called appeals process, which basically goes on forever, which is the lawyers and whole legal system will bleed you dry! The amount of money you pay in legal costs, court fees etc...You can buy the plot or house for the same value. From my relatives and friends, none of them have actually come to a conclusion, either they have forfeited and let the culprit keep the land or they have managed to an agreement. (i.E giving half and keeping half rather than disputing the whole lot)

                      im referring to my personal experiences of when a third party had already built on my part of the plot that I owned, which I had to dispute and got no where.
                        2184 days ago 

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