Selling Home By Owner Contract

Selling Home By Owner Contract Template for Malaysia

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Key Requirements PROMPT example:

"I need a Selling Home By Owner Contract for my double-story terrace house in Petaling Jaya, Malaysia, with completion planned for March 2025 and a purchase price of RM 850,000."

Document background

The Selling Home By Owner Contract is a crucial legal instrument in the Malaysian property market that enables property owners to conduct direct sales without intermediary real estate agents. This document type has gained increasing relevance as more property owners seek to manage their own sales transactions while maintaining legal compliance. It must adhere to the National Land Code 1965, Contracts Act 1950, and various state-specific regulations governing property transfers in Malaysia. The contract includes comprehensive provisions covering property details, payment terms, warranties, and completion procedures, while incorporating necessary safeguards for both parties. It's particularly valuable for property owners who have experience in real estate transactions or prefer to maintain direct control over the sales process, though professional legal review is still recommended to ensure all requirements are met.

Suggested Sections

1. Parties: Identification and details of the Seller and Buyer, including full legal names, identification numbers, and addresses

2. Background: Brief context of the property sale and the parties' intention to enter into this agreement

3. Definitions: Definitions of key terms used throughout the agreement

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

5. Purchase Price: Agreed purchase price and payment terms including deposit and completion payment details

6. Payment Terms: Detailed breakdown of payment schedule, method of payment, and consequences of default

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

8. Seller's Representations and Warranties: Seller's declarations regarding property ownership, encumbrances, and condition

9. Buyer's Representations and Warranties: Buyer's declarations regarding financial capacity and understanding of property condition

10. Completion: Requirements and procedures for completing the sale, including documentation and transfer processes

11. Default and Termination: Consequences of breach and circumstances allowing termination

12. Notices: How formal communications between parties should be made and delivered

13. Governing Law: Specification that Malaysian law governs the agreement

14. Execution: Signature blocks for all parties and witnesses

Optional Sections

1. Tenant Provisions: Required if the property is currently tenanted, addressing handover procedures and tenant rights

2. Renovation Works: Include if there are ongoing or agreed-upon renovation works to be completed before or after sale

3. Strata Title Provisions: Required for apartments or condominiums, addressing management corporation rules and maintenance fees

4. Agricultural Land Provisions: Required for agricultural land, addressing specific restrictions and requirements

5. Foreign Ownership: Required if the buyer is a foreign national, addressing additional requirements and restrictions

6. Property Inspection: Optional clause detailing property inspection requirements and outcomes

7. Furniture and Fittings: Include if the sale includes specific furniture or fittings

8. Bank Loan Conditions: Required if the purchase is contingent on bank loan approval

Suggested Schedules

1. Schedule 1 - Property Details: Detailed property information including exact measurements, boundaries, and title particulars

2. Schedule 2 - Payment Schedule: Detailed breakdown of payment terms, amounts, and due dates

3. Schedule 3 - Inventory List: List of furniture, fittings, and other items included in the sale

4. Schedule 4 - Property Condition Report: Detailed report on the current condition of the property

5. Schedule 5 - Outstanding Charges: List of any outstanding charges, taxes, or assessments on the property

6. Appendix A - Property Documents: Copies of relevant property documents including title deed and land search

7. Appendix B - Property Plans: Floor plans, location maps, and other relevant property drawings

8. Appendix C - Regulatory Approvals: Copies of relevant permits, certificates, and regulatory approvals

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

Legal Services

Banking and Finance

Property Development

Construction

Insurance

Public Administration

Notary Services

Relevant Teams

Legal

Property Management

Compliance

Real Estate

Documentation

Administration

Finance

Risk Management

Customer Service

Relevant Roles

Property Owner

Legal Counsel

Conveyancing Lawyer

Property Manager

Bank Manager

Mortgage Officer

Land Officer

Legal Administrator

Property Valuer

Compliance Officer

Document Controller

Legal Secretary

Title Examiner

Contract Administrator

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