What do I need to know when buying property in Pakistan?
When we asked expats what advice they would give a foreigner before buying a property in Pakistan, they said...
"1. It is important to research the local market and understand the current trends in the area before making a purchase. 2. It is important to hire a qualified lawyer to review all documents related to the purchase and ensure that all legal requirements are met. 3. It is important to obtain a valuation of the property from a qualified professional to ensure that the purchase price is fair. 4. It is important to understand the local tax laws and regulations and ensure that all taxes are paid in a timely manner. 5. It is important to understand the local zoning laws and regulations and ensure that the property is suitable for the intended use. 6. It is important to obtain a title search to ensure that the property is free of any liens or encumbrances. 7. It is important to obtain a survey of the property to ensure that the boundaries are accurate and that the property is not encroaching on any other land. 8. It is important to obtain a certificate of occupancy from the local government to ensure that the property is suitable for habitation. 9. It is important to obtain a certificate of completion from the local government to ensure that all construction work has been completed in accordance with local regulations. 10. It is important to obtain a certificate of insurance from the local government to ensure that the property is adequately insured against any potential risks," said a member in Pakistan.
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What do I need to know when buying property in Pakistan?
If you live in Pakistan, newcomers to Pakistan would love to hear your answer to this question: