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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."
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
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
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
Real Estate
Property Development
Banking and Finance
Legal Services
Construction
Property Management
Real Estate Investment
Property Advisory
Residential Property
Commercial Property
Legal
Real Estate
Property Management
Sales
Compliance
Risk Management
Operations
Finance
Business Development
Corporate Services
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
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