The Offer Letter For House is a crucial initial document in Malaysian property transactions, serving as a formal expression of interest from a potential buyer to a property owner or developer. This document is typically used when a buyer has identified a suitable property and wishes to formalize their interest before proceeding with a full Sale and Purchase Agreement. The letter includes critical information such as the proposed purchase price, payment terms, condition of the property, and any specific conditions that need to be met. Operating within the Malaysian legal framework, particularly under the Contracts Act 1950 and relevant property laws, this document helps establish clear communication between parties and sets the groundwork for subsequent negotiations. While not legally binding in itself, it often serves as a reference point for preparing the final sale documentation and can be particularly important in securing the property while financing and other arrangements are being made.
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1. Sender's Details: Full name, address, and contact information of the potential buyer
2. Date: Date of the offer letter
3. Recipient's Details: Full name, address, and contact information of the property owner/seller
4. Property Details: Complete description of the property including address, lot number, title details, and land area
5. Purchase Price: Clear statement of the offered purchase price in both numbers and words
6. Payment Terms: Proposed payment structure including earnest deposit, down payment, and balance payment details
7. Offer Validity Period: Timeframe for which the offer remains valid
8. Due Diligence Period: Proposed timeline for conducting property and title searches
9. Completion Timeline: Proposed timeline for completing the sale and purchase transaction
10. Basic Terms and Conditions: Essential conditions of the offer including property vacant possession and title conditions
11. Closing Statement: Request for response and contact information for further communication
1. Financing Clause: Include when purchase is subject to obtaining bank financing, specifying loan amount and conditions
2. Property Inspection Clause: Include when offer is subject to satisfactory property inspection
3. Existing Tenancy: Include when property has existing tenants and handling of tenancy agreement needs to be addressed
4. Furniture and Fittings: Include when offer includes specific furniture or fittings to be left in the property
5. Renovation Permission: Include when buyer requires permission for specific renovations before completion
6. Strata Title Conditions: Include for apartments or condominiums where strata title is involved
7. Special Conditions: Include any other specific conditions unique to the transaction
1. Property Photos: Recent photographs of the property's exterior and interior
2. Location Plan: Map showing the location of the property
3. Copy of Title Search: Preliminary title search results if already conducted
4. List of Furniture and Fittings: Detailed inventory of items included in the sale if applicable
5. Bank Approval in Principle: If financing is involved, preliminary approval from bank
6. Property Valuation Report: If available, professional valuation of the property
7. Proposed Timeline: Detailed schedule of key dates and milestones for the transaction
Relevant legal definitions
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Relevant Industries
Real Estate
Property Development
Banking and Finance
Legal Services
Construction
Housing Development
Property Management
Investment
Relevant Teams
Legal
Real Estate
Property Management
Sales
Business Development
Conveyancing
Mortgage
Customer Relations
Documentation
Compliance
Relevant Roles
Real Estate Agent
Property Lawyer
Property Developer
Bank Officer
Mortgage Specialist
Property Manager
Real Estate Broker
Legal Executive
Property Valuer
Housing Development Officer
Conveyancing Executive
Real Estate Investment Manager
Property Consultant
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