The economical hub of Pakistan, Karachi is also known as the city of lights is not just the city of lights but also a city with lots and lots of people. It is not an overstatement that, the population of Karachi is increasing exponentially. The price for a house for sale in Karachi is skyrocketing and buying a property in Karachi seems like a distant dream. However, if you know how to take help from a trusted real estate agency then your dream can be a reality. In this guide, we are going to highlight the key points everyone should remember when buying or even selling property in Karachi with the help of an Estate Agency.
With the help of the Estate Agency Buy House in Karachi within your budget.
First and foremost, it is best to look for properties that are within your budget. It might sound obvious but in Karachi most of the time. When the property seems affordable and prices considerably low, there is a bright chance of fraud in these properties. Due to the heavy increase in the demand as well as prices of property in Karachi, the rate of corruption has also increased. It is essential that you do your research about the property, the documents, and the locality. Therefore, it is always a good idea to buy a house within your budget and don’t cut corners in the need to save few bucks.
Get the services of a real estate agency in Karachi.
It is not always necessary to hire a real estate agent to help you buy a house. But in a city like Karachi, where property dealings have become considerably difficult. It is advisable to have property experts by your side. However, we don’t recommend you trust your agent blindly. First, you should do some research on your own, their numerous sites, and online platforms. Where you can get an idea of the price of the property in a particular area or region. After getting an idea about the prices and demands. You can hire a trusted and reliable estate agent who can guide you through the process and provide expertise.
While looking for a reliable real estate agent. There is one thing that you should always keep in mind the commission rates. These can hurt you like an arrow through the chest. Most of the agents take 1% commission but some of the agents demand an increase in this rate depending on the property and the effort they had to go through. In most cases, the payment of the commission is due when the property is transferred to your name. But, it is always better to sit and discuss all these things. Formally, with your agent to save yourself from any damages or disputes.
The real estate agent deals with any issues and facilitates.
When you have found the right real estate agency in Karachi, now you can relax and let them do the hard and technical work for you. Being a real estate agent in Karachi is a tough job because of the cutthroat competition in the market. This competition leads to better services and more facilitation for the clients. It is the responsibility of agents to take care of the property issues as well as the documentation. The real estate agent takes care of the formalities of the contract and is responsible if any dispute occurs between the two parties.
Signing a lease agreement to buy a house.
Once all the documents have gathered by the agent now is the time to sign the lease agreement. It is highly advised that both the buyer and the seller should formally discuss the amount of the initial deposit (Bayana) and the terms related to the initial deposit. The amount of the Bayana varies depending on the agreement of buyer and seller. Usually, this amount is 25% of the selling price of the property.
The agent is responsible to get both the parties on one page and get them to sign the stamp paper. In most cases, the dispute occurs when the buyer refuses to buy the property even after giving the initial deposit or the seller refuses to sell the property after taking the Bayana (initial deposit) In either case, the estate agent will handle the dispute and resolve the issues. At the time of signing the lease agreement, the estate agent should be physically present in the meeting.
Best places house for sale in Karachi
Stay away from frauds and any other issues, you should always go to places that are credible and legitimate. Homes are available for selling like DHA Defence, Bahria Town, Gulshan-e-Iqbal Town, Gulistan-e-Jauhar, Malir, North Karachi, and so on.
Furthermore, these areas are less shady and more reliable than other areas where prices are low but chances of fraud are high. You can find your desired home in one of these locations. Buying or selling on your own will take a long time but a real state agent makes it easier.