SALES DOCUMENTS
Predatory Sales Documents:
Few victims of Green Wood Residency provided us with the sales documents and gave us permission to post them here. We selected one set of packages to publish here as an example of documents. Preprinted agreement or sales package is a joke and full of ambiguity. Do you think that Hafeez ur Rehman Butt who became chairman of builders association ABAD first time during 1992 was not aware of legal documentations or was unable to hire an experienced real estate attorney to prepare the proper documents. No! He did it purposely.
Largest 4 pages green color document is titled as an application of Billy’s Green Wood Residency. It is necessary for a written agreement to be signed by all the parties and that application required and signed only by an Applicant (the buyer). However this application form requires all the payments to be paid to “Orient Housing Services”. Hafeez ur Rehman Butt has registered the company with ABAD and gave it a new name "Orient Builders".
First page of this application form of Green Wood Residency is about details of the applicant, details of the unit and payment method. Second page is about the name and location of the project, Payment of Installment, Availability of HBFC loan, Documentation Charges, Availability of Utility Services, Completion of Project & Escalation and other payment details. Third page is about Surrender of Unit/ Refund, Transfer and the rest of 80 % of the page is about home owner’s occupying rules. Fourth page is a signature page.
Then we studied 3 other booking documents, receipt and one Installment Agreement Repot (posted here). Two of the booking documents are Payment Schedules signed by both, buyer and builder’s representative, one for condo and other for servant quarter. Signature’s place on one document calls buyer as Allottee and other place calls as Applicant. These both pre printed documents have no name of builder, name of project or project address on them but provide discounted details. However a third booking document signed by both, buyer and builder’s representative is titled as Additional Agreement and is properly written and typed on Orient Housing Services’ letterhead. This document guarantees no Escalation Charges. We have posted a Payment Receipt too as an example of documents. The Installment Agreement Report posted here as example is properly detailed and confirms the previously offered discounts on condo and on servant quarter.
Please lookout your sales documents too for above mentioned references and to make sure that they are complete.
Photo Gallery
Application Form - Page 1
Application Form - Page 2
Application Form - Page 3
Application Form - Page 4
Additional Agreement signed by both Buyer & Builder. Builder committed to pay the monthly rent after 46 months from the signing date if unable to complete the project. Builder also committed no escalation charges till the possession of the project.
Sales document of servant quarter signed by both, buyer& builder showing a discount of Rs. 25,000.
Installment Agreement Report signed by the builder and issued 18 months after sales/ purchase agreement. This report confirms again 10% discount on the unit and Rs. 25,000 discount on the servant quarter.
Payment Schedule signed by both buyer & builder confirming 10% discount on the unit.
This is the Payment Schedule of same 5 rooms condominium as in above documents but showing different figures. Price is 550,000 Rupees cheaper, almost 15% less and HBFC loan is printed Rs. 1,300,000 in place of Rs. 900,000. Different buyers were issued different documents during almost same period of time.
Payment Receipt