House Offer Contract

House Offer Contract Template for Malaysia

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Key Requirements PROMPT example:

"I need a House Offer Contract for a double-storey terrace house in Petaling Jaya, Malaysia, with a purchase price of RM 850,000 and completion date of March 15, 2025, including financing conditions and property inspection requirements."

Document background

The House Offer Contract is a crucial document in Malaysian property transactions that initiates the formal process of property purchase. It is typically used when a potential buyer wishes to make a formal offer to purchase residential property, whether from an individual seller or a developer. The document must comply with Malaysian property laws, including the Contracts Act 1950, National Land Code 1965, and Housing Development (Control and Licensing) Act 1966. It includes essential details such as property identification, purchase price, payment terms, conditions precedent, and completion timeline. The House Offer Contract serves as the foundation for the subsequent Sale and Purchase Agreement if the offer is accepted, making it a critical document in establishing the initial terms and conditions of the proposed transaction. It provides protection for both parties by clearly documenting the offer terms and any specific conditions that must be met before proceeding to the final purchase.

Suggested Sections

1. Parties: Identification of the potential buyer (offeror) and property owner (offeree) with full legal names and identification numbers

2. Background: Brief context of the transaction and property identification

3. Definitions: Key terms used throughout the contract including Property, Purchase Price, Deposit, Completion Date

4. Property Details: Complete legal description of the property including title details, lot number, and address

5. Purchase Price: The offered purchase price in numbers and words, including payment terms

6. Deposit: Amount of deposit, payment terms, and conditions for holding the deposit

7. Duration of Offer: Validity period of the offer and conditions for acceptance

8. Completion Timeline: Proposed timeline for completion of the purchase including key milestones

9. Property Condition: Current condition of the property and any included/excluded fixtures and fittings

10. Title and Ownership: Confirmation of clear title and ownership transfer terms

11. Default and Termination: Consequences of default by either party and termination provisions

12. Governing Law: Specification that Malaysian law governs the contract

13. Execution: Signature blocks for all parties and witnesses

Optional Sections

1. Financing Conditions: Include when offer is subject to obtaining financing, specifying conditions and timeline for loan approval

2. Strata Title Provisions: Include for apartments/condominiums, addressing maintenance fees and sinking fund obligations

3. Tenancy Status: Include if property is currently tenanted, addressing existing tenancy agreements

4. Property Inspection: Include when offer is subject to satisfactory property inspection

5. Renovation Permission: Include when buyer requires specific renovation permissions before purchase

6. Foreign Investment Approval: Include when buyer is foreign and requires government approval

7. Vacant Possession: Include specific terms about when and how vacant possession will be given

8. Special Conditions: Include any unique requirements or conditions specific to the transaction

Suggested Schedules

1. Schedule 1 - Property Details: Detailed property specifications, including lot number, title details, and land area

2. Schedule 2 - Payment Schedule: Breakdown of payment terms including deposit, progressive payments, and completion payment

3. Schedule 3 - Included Items: List of fixtures, fittings, and other items included in the sale

4. Schedule 4 - Property Inspection Report: If applicable, findings from property inspection

5. Appendix A - Property Photos: Recent photographs of the property's current condition

6. Appendix B - Title Search Results: Copy of recent land title search results

7. Appendix C - Strata Information: For strata properties, details of management fees and bylaws

8. Appendix D - Required Approvals: List of necessary approvals and current status

Authors

Alex Denne

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

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Real Estate

Residential Property

Property Development

Legal Services

Banking and Finance

Property Management

Construction

Insurance

Property Investment

Professional Services

Relevant Teams

Legal

Real Estate

Sales

Property Management

Compliance

Finance

Risk Management

Operations

Customer Service

Document Management

Relevant Roles

Real Estate Agent

Property Lawyer

Conveyancing Officer

Property Manager

Bank Manager

Mortgage Officer

Property Developer

Sales Director

Legal Counsel

Property Valuer

Housing Development Officer

Compliance Officer

Real Estate Investment Manager

Property Acquisition Manager

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Option To Buy Real Estate Form

A Malaysian legal document granting exclusive rights to purchase specified real estate within a set timeframe, subject to Malaysian property law and contract regulations.

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Let's create your House Offer Contract

Authors

Alex Denne

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