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The Agreement Of Purchase And Sale Condominium Resale is a crucial legal document used in Malaysian property transactions when transferring ownership of an existing condominium unit from one owner to another. This agreement is essential for ensuring a legally compliant and smooth property transfer in Malaysia's real estate market. It contains detailed provisions covering property description, purchase price, payment terms, conditions precedent, and obligations of both parties. The document must comply with multiple Malaysian laws including the Strata Titles Act 1985, National Land Code 1965, and the Housing Development Act. It's particularly important for protecting both parties' interests in secondary market transactions, where different considerations apply compared to new property purchases. The agreement typically includes provisions for property inspection, existing conditions, maintenance fees, and specific requirements related to strata properties.

1. Parties: Identification of the Vendor (seller) and Purchaser (buyer) with full legal names, identification numbers, and addresses

2. Background: Brief context of the transaction, including property ownership status and intention to sell

3. Definitions: Key terms used throughout the agreement including Property, Purchase Price, Completion Date, and other relevant terminology

4. Property Details: Comprehensive description of the condominium unit, including unit number, floor area, and strata title details

5. Purchase Price: Agreed purchase price and payment structure, including deposit and balance payment terms

6. Payment Terms: Detailed breakdown of payment schedule, method of payment, and consequences of default

7. Conditions Precedent: Conditions that must be fulfilled before completion, including bank loan approval and strata title verification

8. Vendor's Obligations: Seller's commitments including providing vacant possession, settling outstanding charges, and ensuring title transfer

9. Purchaser's Obligations: Buyer's commitments including payment obligations, responsibility for transfer costs, and compliance with management rules

10. Completion: Process and requirements for completing the sale, including documentation and handover procedures

11. Representations and Warranties: Statements and guarantees by both parties regarding property condition, ownership, and authority to sell

12. Default and Termination: Consequences of breach and circumstances allowing agreement termination

13. Notices: Method and addresses for serving legal notices between parties

14. Governing Law: Specification of Malaysian law as governing law and jurisdiction