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House Sale Purchase Agreement
"I need a House Sale Purchase Agreement for a double-story terrace house in Petaling Jaya, Malaysia, with completion scheduled for March 2025, including special provisions for existing tenant transition and partial renovation allowance."
1. Parties: Identification of the Vendor and Purchaser with full names, identification numbers, and addresses
2. Background: Brief context of the property sale, including property ownership status and intention to sell/purchase
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Details: Comprehensive description of the property including title details, lot number, built-up area, and address
5. Purchase Price: Agreed purchase price and payment terms including deposit, progressive payments, and completion sum
6. Payment Terms: Detailed payment schedule, method of payment, and consequences of late payment
7. Conditions Precedent: Conditions that must be fulfilled before the agreement becomes fully effective
8. Vendor's Obligations: Responsibilities and warranties of the seller including property delivery conditions
9. Purchaser's Obligations: Responsibilities of the buyer including payment obligations and due diligence
10. Completion: Requirements and procedures for completing the sale including documentation and key handover
11. Default: Consequences and remedies in case of default by either party
12. Termination: Circumstances under which the agreement can be terminated and the consequences
13. Notices: How formal communications between parties should be made and delivered
14. Governing Law: Confirmation that Malaysian law governs the agreement and jurisdiction details
1. Existing Tenancy: Required if the property is currently tenanted, detailing arrangements for existing tenants
2. Renovation Works: Included if specific renovation or repair works are to be completed before completion
3. Strata Title: Required for apartments/condominiums to address management corporation rules and maintenance fees
4. Bank Financing: Include when purchaser is obtaining bank financing, with relevant conditions and requirements
5. Property Insurance: Required if specific insurance arrangements are part of the agreement
6. Vacant Possession: Detailed terms for delivery of vacant possession if property is currently occupied
7. GST/Tax Provisions: Required if specific tax arrangements need to be addressed
8. Agent Commission: Include if property agents are involved in the transaction
1. Schedule 1 - Property Details: Detailed property specifications, including floor plan and boundary details
2. Schedule 2 - Payment Schedule: Detailed breakdown of payment installments and timing
3. Schedule 3 - Property Inventory: List of fixtures, fittings, and items included in the sale
4. Schedule 4 - Title Particulars: Copy of land title or strata title details
5. Schedule 5 - Vendor's Warranties: Detailed list of warranties provided by the vendor
6. Appendix A - Property Photos: Current photographs of the property's condition
7. Appendix B - Required Documents: List of documents required for completion
8. Appendix C - Form of Notice of Assignment: Template for the notice of assignment to relevant authorities
Authors
Real Estate
Legal Services
Banking and Finance
Property Development
Insurance
Construction
Property Management
Public Sector Administration
Property Investment
Legal
Real Estate
Property Management
Conveyancing
Compliance
Risk Management
Sales
Customer Service
Documentation
Finance
Real Estate Lawyer
Property Lawyer
Conveyancing Executive
Real Estate Agent
Property Manager
Bank Manager
Mortgage Officer
Property Developer
Legal Assistant
Compliance Officer
Property Valuer
Land Administrator
Housing Development Officer
Title Insurance Officer
Real Estate Investment Manager
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