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The Purchase Agreement For House For Sale By Owner is a crucial legal document used in Malaysia for private property transactions where the owner sells directly to the buyer without engaging a real estate agent. This document is essential for ensuring a legally compliant and secure transaction under Malaysian property law. It incorporates requirements from the National Land Code 1965, Contracts Act 1950, and relevant state legislation. The agreement covers all vital aspects of the property sale, including detailed property description, purchase price, payment terms, warranties, and completion procedures. It's particularly useful for property owners who prefer to handle their own sale process while maintaining legal protection and transaction clarity. The document must comply with specific Malaysian legal requirements regarding property transfer, stamp duty obligations, and state-specific land regulations.

1. Parties: Identifies and provides full details of the Vendor (seller) and Purchaser (buyer), including their names, identification numbers, and addresses

2. Background: Outlines the context of the sale, confirming the Vendor's ownership and intention to sell, and the Purchaser's intention to buy

3. Definitions: Defines key terms used throughout the agreement to ensure clear interpretation

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

5. Purchase Price: States the agreed purchase price and payment terms, including deposit and balance payment schedule

6. Payment Terms: Details the method and timing of payments, including deposit, progressive payments if any, and completion payment

7. Conditions Precedent: Lists any conditions that must be fulfilled before the agreement becomes fully effective

8. Completion: Specifies the completion date and procedures for transferring property ownership

9. Vendor's Obligations: Lists the seller's responsibilities including providing clean title, vacant possession, and necessary documentation

10. Purchaser's Obligations: Outlines the buyer's duties including payment obligations and documentation requirements

11. Representations and Warranties: States the guarantees and promises made by both parties regarding the property and transaction

12. Default and Termination: Describes what constitutes default and the consequences, including termination rights

13. Notices: Specifies how formal communications between parties should be made and delivered

14. Governing Law: Confirms Malaysian law governs the agreement and specifies jurisdiction for disputes

15. Execution: Formal signing section with witness requirements as per Malaysian law