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Offer Letter To Purchase Property for Malaysia

Offer Letter To Purchase Property Template for Malaysia

A formal document used in Malaysian property transactions that represents the initial step in the property purchase process. This letter outlines the purchaser's intent to buy a specific property and includes essential terms such as the proposed purchase price, payment terms, and conditions of the offer. The document must comply with Malaysian property laws, including the National Land Code 1965 and relevant state enactments, and serves as the foundation for the subsequent Sale and Purchase Agreement. It typically includes property details, payment structure, completion timeline, and any specific conditions precedent to the purchase.

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What is a Offer Letter To Purchase Property?

The Offer Letter To Purchase Property is a fundamental document in Malaysian property transactions that initiates the formal property acquisition process. It is typically used when a potential buyer has identified a property of interest and wishes to formalize their purchase intention. The document serves as a preliminary agreement that outlines the key terms of the proposed transaction, including the purchase price, payment terms, and any specific conditions. This letter must comply with Malaysian property laws and regulations, including the National Land Code 1965, Contracts Act 1950, and relevant state-specific requirements. While not as detailed as the final Sale and Purchase Agreement, this document is crucial as it forms the basis for further negotiations and the eventual property transfer. It is particularly important in both residential and commercial property transactions, providing a clear framework for both parties to proceed with the transaction.

What sections should be included in a Offer Letter To Purchase Property?

1. Date and Reference: Current date and any reference number for the offer letter

2. Addressee Details: Full name and address of the property owner/seller

3. Subject Line: Clear indication that this is an offer to purchase property

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

5. Purchase Price: Proposed purchase price in both numbers and words

6. Payment Terms: Proposed payment structure including deposit amount and payment timeline

7. Completion Period: Proposed timeline for completing the transaction

8. Offer Validity Period: Duration for which the offer remains valid

9. Purchaser Details: Full name, IC/Passport number, and contact details of the purchaser

What sections are optional to include in a Offer Letter To Purchase Property?

1. Financing Clause: Include when purchase is subject to loan approval

2. Foreign Investment Committee Approval: Required when purchaser is a foreign national

3. Tenancy Status: Include when property is currently tenanted

4. Condition Precedents: Any specific conditions that must be met before proceeding

5. Due Diligence Period: When buyer requires time for property inspection or title search

6. Renovation/Alteration Terms: Include when buyer plans immediate renovations post-purchase

What schedules should be included in a Offer Letter To Purchase Property?

1. Property Details Schedule: Detailed description of the property including boundaries, built-up area, and land area

2. Payment Schedule: Detailed breakdown of payment terms and timeline

3. List of Fixtures and Fittings: Inventory of items included in the sale

4. Property Documents: Copies of title deed, latest quit rent, and assessment receipts

5. Due Diligence Checklist: List of documents and verifications required

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Malaysia

Publisher

Genie AI

Document Type

Offer Letter

Cost

Free to use
Relevant legal definitions

























Clauses




















Relevant Industries

Real Estate

Banking and Finance

Legal Services

Property Development

Construction

Investment

Property Management

Professional Services

Relevant Teams

Legal

Real Estate

Property Management

Business Development

Investment

Finance

Compliance

Operations

Acquisitions

Relevant Roles

Real Estate Agent

Property Lawyer

Conveyancing Executive

Property Manager

Bank Manager

Mortgage Officer

Property Valuer

Real Estate Developer

Investment Manager

Legal Counsel

Property Acquisition Manager

Real Estate Investment Analyst

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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