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For Sale By Owner Purchase Contract Template for Malaysia

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Key Requirements PROMPT example:

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."

Document background
The For Sale By Owner Purchase Contract is designed for use in Malaysian property transactions where the owner chooses to sell their property directly to a buyer without engaging a real estate agent. This document is essential in Malaysia's property market, where it must comply with federal laws such as the National Land Code 1965 and state-specific land regulations. It provides a comprehensive framework for the sale transaction, including all necessary legal provisions required under Malaysian law, such as property details, payment terms, conditions precedent, and completion requirements. The contract is particularly relevant in private property sales where parties wish to maintain direct control over the transaction while ensuring legal compliance and protection of their interests. It includes specific provisions for Malaysian property transfer procedures, including requirements for Land Office registration and stamp duty obligations.
Suggested Sections

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

Optional Sections

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

Suggested Schedules

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

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions






























Clauses




























Relevant Industries

Real Estate

Property Development

Banking and Finance

Legal Services

Construction

Property Management

Residential Property

Commercial Property

Property Investment

Relevant Teams

Legal

Real Estate

Property Management

Compliance

Finance

Risk Management

Corporate Services

Investment

Operations

Documentation

Relevant Roles

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

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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