The House Sale Agreement Form is a crucial legal document used in Malaysian property transactions to formalize the sale and purchase of residential properties. This document is essential for both private sales and developer sales, incorporating requirements from Malaysian property laws including the National Land Code 1965 and the Housing Development (Control and Licensing) Act 1966. It serves as a binding contract that protects both the vendor's and purchaser's interests by clearly outlining the terms of sale, property details, payment schedule, and completion requirements. The agreement is typically used after the signing of an offer letter and before the final transfer of property ownership, requiring careful review by legal professionals to ensure compliance with Malaysian property regulations and to safeguard the parties' interests.
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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: Complete description of the property including title details, lot number, built-up area, and location
5. Purchase Price: Agreed purchase price and payment terms including deposit and balance payment schedule
6. Conditions Precedent: Conditions that must be fulfilled before completion of the sale
7. Vendor's Obligations: Responsibilities and warranties of the seller including delivery of vacant possession
8. Purchaser's Obligations: Responsibilities of the buyer including payment obligations and compliance with terms
9. Completion: Process and requirements for completing the sale transaction
10. Title and Transfer: Provisions regarding transfer of title and registration requirements
11. Default and Termination: Consequences of default by either party and termination provisions
12. Notices: Method and addresses for serving notices between parties
13. Governing Law: Specification of Malaysian law as governing law and jurisdiction
1. Loan Financing: Terms relating to purchaser's financing arrangements, used when buyer requires bank financing
2. Tenancy: Provisions regarding existing tenancy if property is currently tenanted
3. Renovation: Terms regarding any agreed renovations or modifications before completion
4. Strata Title: Additional provisions for apartments or condominiums under strata title
5. Property Management: Terms relating to management fees and sinking fund for stratified properties
6. GST/Tax Provisions: Specific tax-related provisions if applicable
7. Agent Commission: Terms regarding real estate agent commission if transaction involves agents
1. Schedule 1 - Property Details: Detailed description of property including exact measurements, boundaries, and fixtures
2. Schedule 2 - Payment Schedule: Detailed breakdown of payment terms and installments
3. Schedule 3 - Title Particulars: Copy of land title or strata title details
4. Schedule 4 - Inventory List: List of fixtures and fittings included in the sale
5. Appendix A - Property Documents: Copies of relevant property documents including latest quit rent and assessment receipts
6. Appendix B - Plans and Drawings: Property floor plans and location maps
7. Appendix C - Conditions of Property: Detailed report on property condition and any defects
Authors
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Legal Services
Banking and Finance
Property Development
Construction
Insurance
Property Management
Relevant Teams
Legal
Real Estate
Conveyancing
Sales
Compliance
Property Management
Documentation
Customer Service
Finance
Risk Management
Relevant Roles
Real Estate Agent
Property Lawyer
Conveyancing Executive
Bank Manager
Mortgage Officer
Property Developer
Legal Secretary
Property Valuer
Sales Manager
Compliance Officer
Real Estate Manager
Title Officer
Property Administrator
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