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House Sale Purchase Agreement Template for Malaysia

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Key Requirements PROMPT example:

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."

Document background
The House Sale Purchase Agreement is a fundamental legal document used in Malaysian property transactions to formalize the transfer of residential property ownership. It serves as the primary contract between a vendor (seller) and purchaser (buyer), incorporating essential elements required by Malaysian property law, including the National Land Code 1965 and Housing Development Act 1966. This agreement is mandatory for all residential property transactions in Malaysia and must be properly stamped and registered. It outlines crucial details such as property specifications, purchase price, payment schedule, completion requirements, and the rights and obligations of all parties involved. The document provides legal protection for both parties and serves as evidence of the transaction terms for various purposes, including financing, property registration, and future reference.
Suggested Sections

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

Optional Sections

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

Suggested Schedules

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

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

Legal Services

Banking and Finance

Property Development

Insurance

Construction

Property Management

Public Sector Administration

Property Investment

Relevant Teams

Legal

Real Estate

Property Management

Conveyancing

Compliance

Risk Management

Sales

Customer Service

Documentation

Finance

Relevant Roles

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

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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