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For Sale By Owner Purchase Contract
"I need a For Sale By Owner Purchase Contract for my three-bedroom residential property in Petaling Jaya, Malaysia, with a staged payment structure and completion date of March 15, 2025; the contract should include provisions for existing furniture items that will be included in the sale."
1. Parties: Identification of the seller and purchaser with full legal names, identification numbers, and addresses
2. Background: Brief context of the transaction and confirmation of seller's ownership and right to sell
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Details: Complete legal description of the property including title details, lot number, and address
5. Purchase Price: Agreed purchase price and payment terms including deposit and completion amounts
6. Payment Terms: Detailed schedule of payments including deposit, progressive payments, and completion payment
7. Conditions Precedent: Conditions that must be fulfilled before completion of the sale
8. Completion: Terms and process for completing the sale, including timing and documentation requirements
9. Seller's Warranties: Warranties regarding property ownership, condition, and encumbrances
10. Purchaser's Warranties: Warranties regarding capacity to purchase and funding arrangements
11. Title and Transfer: Provisions regarding transfer of title and registration requirements
12. Vacant Possession: Terms for delivering vacant possession of the property
13. Default Provisions: Consequences and remedies in case of default by either party
14. Notices: Process for serving notices between parties
15. Governing Law: Confirmation of Malaysian law as governing law and jurisdiction
16. Execution: Signature blocks and execution requirements
1. Strata Title Provisions: Required if property is an apartment/condominium, including provisions about management fees and sinking funds
2. Tenancy Provisions: Required if property is currently tenanted, addressing handover of tenancy deposits and termination notices
3. Renovation Works: Required if there are ongoing or planned renovation works, detailing completion requirements
4. Property Inspection: Optional section detailing property inspection requirements and outcomes
5. Furniture and Fittings: Required if sale includes furniture or fittings, with detailed inventory
6. Tax Provisions: Detailed provisions about Real Property Gains Tax if relevant to the transaction
7. Bank Financing: Required if purchase is contingent on obtaining bank financing
8. Joint Ownership: Required if property is being purchased by multiple buyers
9. Agent Involvement: Required if any real estate agents are involved in the transaction
1. Schedule 1 - Property Details: Detailed property information including lot number, title details, and land area
2. Schedule 2 - Payment Schedule: Detailed breakdown of payment terms and timing
3. Schedule 3 - Inventory List: List of furniture, fittings, and other items included in the sale
4. Schedule 4 - Condition Report: Detailed report on property condition at time of sale
5. Schedule 5 - Outstanding Charges: List of any outstanding charges, taxes, or assessments
6. Appendix A - Property Documents: Copies of title documents, strata title (if applicable), and other relevant certificates
7. Appendix B - Plans and Drawings: Property plans, location maps, and building plans where relevant
8. Appendix C - Regulatory Approvals: Copies of relevant permits, certificates of fitness, and other regulatory approvals
Authors
Real Estate
Property Development
Banking and Finance
Legal Services
Construction
Property Management
Residential Property
Commercial Property
Property Investment
Legal
Real Estate
Property Management
Compliance
Finance
Risk Management
Corporate Services
Investment
Operations
Documentation
Property Owner
Property Buyer
Real Estate Lawyer
Conveyancing Executive
Bank Manager
Mortgage Officer
Property Manager
Legal Counsel
Compliance Officer
Company Director
Chief Financial Officer
Investment Manager
Property Developer
Land Administrator
Title Officer
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