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Simple Real Estate Sales Contract Template for Malaysia

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Key Requirements PROMPT example:

Simple Real Estate Sales Contract

"I need a Simple Real Estate Sales Contract for purchasing a residential property in Kuala Lumpur, with completion scheduled for March 2025 and including provisions for bank financing approval."

Document background
The Simple Real Estate Sales Contract serves as a fundamental legal instrument for property transactions in Malaysia, designed to facilitate straightforward real estate sales between parties. This document is particularly suitable for uncomplicated property transfers where standard terms and conditions apply. It incorporates all essential elements required under Malaysian law, including compliance with the National Land Code 1965, Contracts Act 1950, and other relevant property legislation. The contract is structured to protect both parties' interests while ensuring the transaction meets all legal requirements for property transfer in Malaysia. It includes provisions for property description, purchase price, payment terms, conditions precedent, and completion requirements, making it suitable for both residential and simple commercial property transactions.
Suggested Sections

1. Parties: Identification of the Vendor and Purchaser with full legal names, identification numbers, and addresses

2. Background: Brief context of the transaction and confirmation that the Vendor is the registered proprietor of the Property

3. Definitions: Definitions of key terms used throughout the agreement including 'Property', 'Purchase Price', 'Completion Date', etc.

4. Sale and Purchase: Core agreement for the sale and purchase of the Property at the specified Purchase Price

5. Property Details: Full legal description of the property including title details, lot number, and address

6. Purchase Price: Specified purchase price and payment terms including deposit and balance payment schedule

7. Conditions Precedent: Essential conditions that must be fulfilled before completion, including title search and verification

8. Completion: Requirements and procedure for completion of the sale, including timing and location

9. Vendor's Obligations: Vendor's warranties and obligations including delivering vacant possession and clear title

10. Purchaser's Obligations: Purchaser's commitments including payment obligations and due diligence responsibilities

11. Default: Consequences of default by either party and available remedies

12. Notices: Method and addresses for serving notices between parties

13. Governing Law: Specification of Malaysian law as governing law and jurisdiction

14. Execution: Signature blocks for all parties and witnesses

Optional Sections

1. Strata Title Provisions: Required when the property is a strata-titled unit, including provisions relating to maintenance fees and sinking funds

2. Tenancy Provisions: Required when the property is currently tenanted, addressing handover of tenancy deposits and termination notices

3. GST/Tax Provisions: Detailed tax provisions when specific tax circumstances apply

4. Property Condition: Specific provisions about the condition of the property, particularly relevant for properties sold with fixtures and fittings

5. Bank Financing: Additional provisions when the purchase is subject to bank financing approval

6. Real Estate Agent: Provisions regarding real estate agent's commission when an agent is involved in the transaction

Suggested Schedules

1. Schedule 1 - Property Details: Detailed property description including lot number, title details, and land area

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

3. Schedule 3 - Inventory List: List of fixtures, fittings, and other items included in the sale (if applicable)

4. Schedule 4 - Title Conditions: Copy of title conditions, restrictions, and encumbrances

5. Appendix A - Property Plans: Certified plans of the property including boundaries and building plans

6. Appendix B - Form 14A: Statutory transfer form required under the National Land Code

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

Relevant legal definitions






















Clauses
























Relevant Industries

Real Estate

Property Development

Banking and Finance

Legal Services

Construction

Property Management

Real Estate Investment

Property Advisory

Residential Property

Commercial Property

Relevant Teams

Legal

Real Estate

Property Management

Sales

Compliance

Risk Management

Operations

Finance

Business Development

Corporate Services

Relevant Roles

Real Estate Agent

Property Lawyer

Conveyancing Executive

Property Manager

Bank Manager

Property Developer

Legal Counsel

Real Estate Director

Property Consultant

Sales Manager

Compliance Officer

Property Valuer

Real Estate Investment Manager

Land Administrator

Title Officer

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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