This is a practical checklist for agencies, not legal advice. Practice differs between cities and societies; have agreements reviewed by a lawyer.
The two payments
The token is a small payment a buyer makes to hold a property while the terms are settled. The bayana is the larger advance paid when the buyer and seller sign the agreement to sell, and it usually fixes the price and the deadline for the balance. Both are often paid in front of the agent, which is why the agency's record matters when questions come up later.
At the token
- Buyer and seller names, phone numbers and CNIC numbers.
- The property: society, block, plot or house number, and size with its unit and marla standard.
- The agreed price, the token amount and how it was paid (cash, cheque or transfer, with reference).
- How long the token holds the property, and what happens to it if either side walks away.
- A receipt for the buyer, signed by the seller or the agency.
At the bayana
- The signed agreement to sell, with the date.
- The bayana amount and payment details, and the balance still due.
- The deadline for the balance and the transfer date.
- Witnesses, if the agreement names them.
- The agreed commission and who pays it.
Until transfer
- Each instalment received against the balance, with date and reference.
- Documents collected for the transfer and who holds the originals.
- Any change to the dates or price, agreed by both sides in writing.
In aaraazi, an offer carries its token amount, the deal records the bayana and each payment, and the CNIC details sit on the people involved, so the whole trail is on the deal rather than in a diary.