General Power of Attorney is a mechanism for the overseas owners of property in Bahria Town Karachi. This power allows the overseas owners to buy and sell property through their representatives or elected incharges in Pakistan. This creates ease of communication and administration in their physical absence. This is a formal, legal and documented process. It requires effort and declarations on various institutional levels. Such as the involvement of the Pakistan embassy of the person living abroad and the local candidate. The power of attorney can be held by any family member, next of kin, friends or relatives of the actual owner. The power is written and accredited to the owner.
This means any owner living in the USA, Australia, UK, Canada or virtually anywhere abroad can involve their local embassy and begin this process. The documentation outlines the property, identification and national registration numbers of parties involved. It then shows proof to the consent of the owner to delegate their power of buying and selling their rightfully owned property to the candidate chosen in Pakistan. They can sell and buy the property as per their request.
Then the city court verifies the documentation. Then the documents are sent to the foreign office for further processing. The next requirement for handing the general power of attorney for sellers is to advertise in the newspaper.
This can help international investors to invest with fluid ease in Bahria Town Karachi. Selling and buying are otherwise difficult. The owner may have to purchase tickets to further the selling process during negotiations. This requires time, money and resources. The wastage of these resources is not viable for many investors. The General Power of Attorney is an optimized way to help in such negotiations and save these resources.
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