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House Selling Contract

House Selling Contract Template for Malaysia

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Key Requirements PROMPT example:

House Selling Contract

"I need a House Selling Contract for my three-bedroom terrace house in Petaling Jaya, with completion scheduled for March 2025, including standard payment terms with a 10% deposit."

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Document background
The House Selling Contract is a fundamental legal document used in Malaysian property transactions to formalize the sale and purchase of residential properties. This contract is essential for any property sale in Malaysia and must comply with the National Land Code 1965, Contracts Act 1950, and Housing Development (Control and Licensing) Act 1966. It is typically used when a property owner (vendor) wishes to sell their property to a buyer (purchaser), whether for private residential properties, landed houses, or stratified properties like apartments and condominiums. The document includes crucial details such as property description, purchase price, payment terms, completion dates, and both parties' obligations. Special considerations are included for properties under different types of titles (individual, strata, or master title) and various financing arrangements, including conventional and Islamic financing options.
Suggested Sections

1. Parties: Identification and details of the Vendor and Purchaser, 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: Comprehensive description of the property including lot number, title details, and exact address

5. Purchase Price: Agreed purchase price and payment structure

6. Payment Terms: Detailed breakdown of payment schedule, deposit requirements, and balance payment arrangements

7. Conditions Precedent: Conditions that must be fulfilled before completion of the sale

8. Vendor's Obligations: Responsibilities and warranties of the seller including title guarantee and property condition

9. Purchaser's Obligations: Responsibilities of the buyer including payment obligations and due diligence

10. Completion: Requirements and procedures for completing the sale

11. Default Provisions: Consequences and remedies in case of default by either party

12. Assignment: Restrictions on transfer of rights under the agreement

13. Notices: How formal communications between parties should be made

14. Governing Law: Confirmation of Malaysian law as governing law and jurisdiction

Optional Sections

1. Existing Tenancies: Required if the property is currently tenanted, detailing handling of existing tenancy agreements

2. Renovation Agreement: Used when specific renovations are agreed to be completed before completion

3. Islamic Finance Provisions: Required when the purchase involves Islamic financing arrangements

4. Property Management: Necessary for properties in managed developments or condominiums

5. Special Conditions: For any unique requirements or conditions specific to the transaction

6. GST Provisions: Required when the transaction involves GST implications

7. Foreign Investment: Required when the purchaser is a foreign national, addressing additional requirements

Suggested Schedules

1. Property Schedule: Detailed property description, including floor plans and boundaries

2. Title Schedule: Copy of land title or strata title details

3. Inventory List: List of fixtures and fittings included in the sale

4. Payment Schedule: Detailed breakdown of payment installments and due dates

5. Property Condition Report: Current condition of the property and any known defects

6. Relevant Permits: Copies of building permits, certificates of fitness, and other relevant approvals

7. Outstanding Charges: Details of any existing charges, caveats, or encumbrances on the property

Authors

Alex Denne

Head of Growth (Open Source Law) @ ¶¶Òõ¶ÌÊÓƵ | 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

Property Development

Banking and Finance

Legal Services

Property Management

Construction

Housing Development

Investment

Insurance

Relevant Teams

Legal

Real Estate

Property Management

Conveyancing

Compliance

Sales

Documentation

Risk Management

Customer Service

Property Development

Investment Advisory

Finance

Relevant Roles

Real Estate Agent

Property Lawyer

Conveyancing Executive

Bank Manager

Mortgage Officer

Property Developer

Real Estate Manager

Legal Counsel

Property Valuer

Housing Development Officer

Compliance Officer

Real Estate Broker

Title Insurance Officer

Property Investment Advisor

Real Estate Documentation Specialist

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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