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Home For Sale By Owner Contract
"I need a Home For Sale By Owner Contract for selling my double-story terrace house in Petaling Jaya, Malaysia, with completion planned for March 2025; the contract should include standard payment terms with a 10% deposit."
1. Parties: Identification and details of the Seller and Buyer, including full names, identification numbers, and addresses
2. Background: Brief context of the transaction and property ownership status
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 structure including deposit amount
6. Payment Terms: Detailed payment schedule, method of payment, and consequences of default
7. Conditions Precedent: Conditions that must be fulfilled before completion of the sale
8. Seller's Warranties: Warranties regarding property ownership, encumbrances, and condition
9. Buyer's Warranties: Warranties regarding financial capacity and compliance with requirements
10. Completion: Completion date, requirements, and procedures
11. Property Handover: Terms and conditions for vacant possession and key handover
12. Default and Termination: Consequences of default and termination rights
13. Notices: Process for serving notices between parties
14. Governing Law: Confirmation of Malaysian law as governing law and jurisdiction
1. Existing Tenancies: Required if the property is currently tenanted, detailing arrangement with existing tenants
2. Renovation Works: Include if there are ongoing or agreed renovation works to be completed before/after sale
3. Property Management Fees: Required for properties in managed developments, detailing outstanding fees and responsibilities
4. Furniture and Fittings: Include if sale includes specific furniture or fittings
5. Bank Loan Conditions: Include if purchase is contingent on buyer obtaining bank financing
6. Property Insurance: Required if specific insurance arrangements need to be maintained or transferred
7. Tax Matters: Include specific clauses about Real Property Gains Tax if relevant to 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 installments and due dates
3. Schedule 3 - Inventory List: List of furniture, fittings, and other items included in the sale
4. Schedule 4 - Property Condition Report: Detailed report on the current condition of the property
5. Schedule 5 - Outstanding Charges: List of any outstanding charges, taxes, or fees related to the property
6. Appendix A - Property Documents: Copies of title deed, latest assessment bills, and other relevant documents
7. Appendix B - Property Plans: Floor plans, land surveys, and other relevant property plans
Authors
Real Estate
Property Development
Legal Services
Banking and Finance
Property Management
Construction
Insurance
Property Investment
Legal
Property Administration
Conveyancing
Real Estate Operations
Mortgage Processing
Property Valuation
Document Processing
Title Registration
Customer Relations
Risk Assessment
Property Owner
Home Buyer
Property Lawyer
Conveyancing Executive
Bank Manager
Mortgage Officer
Property Valuer
Legal Executive
Property Investment Manager
Real Estate Developer
Property Administrator
Title Search Officer
Land Office Registrar
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