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Residential Sales Contract for Malaysia

Residential Sales Contract Template for Malaysia

A comprehensive legal agreement governed by Malaysian law, specifically designed for the sale and purchase of residential properties in Malaysia. This document complies with the National Land Code 1965 and the Housing Development (Control and Licensing) Act 1966, incorporating all mandatory provisions required under Malaysian property law. It details the terms and conditions of the property transfer, including purchase price, payment terms, completion requirements, and obligations of both parties, while ensuring adherence to local regulatory requirements and market practices.

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Residential Sales Contract

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What is a Residential Sales Contract?

The Residential Sales Contract serves as the primary legal instrument for documenting the sale and purchase of residential properties in Malaysia. It is essential for both private sales and developer sales, incorporating requirements from the National Land Code 1965, Housing Development Act 1966, and other relevant Malaysian legislation. This document is used when transferring ownership of houses, apartments, condominiums, or other residential properties, and includes crucial details such as property specifications, payment terms, completion dates, and parties' obligations. The contract ensures compliance with Malaysian property law while protecting the interests of both vendors and purchasers through clear terms and conditions, mandatory provisions, and appropriate warranties.

What sections should be included in a Residential Sales Contract?

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

2. Background: Context of the sale and brief description of the property being sold

3. Definitions: Definitions of key terms used throughout the agreement

4. Sale and Purchase: Core agreement to sell and purchase the property, including the purchase price

5. Property Details: Detailed description of the property including title details, lot number, and built-up area

6. Payment Terms: Purchase price, deposit amount, and payment schedule

7. Completion: Timeline and conditions for completion of the sale

8. Vendor's Obligations: Responsibilities of the vendor including delivery of vacant possession and documentation

9. Purchaser's Obligations: Responsibilities of the purchaser including payment obligations and due diligence

10. Title and Transfer: Conditions regarding the transfer of title and registration requirements

11. Representations and Warranties: Statements of fact and guarantees by both parties

12. Default and Termination: Consequences of breach and conditions for termination

13. Notices: How formal communications between parties should be made

14. Governing Law: Confirmation of Malaysian law as governing law and jurisdiction

15. Execution: Signature blocks and attestation requirements

What sections are optional to include in a Residential Sales Contract?

1. Strata Title Provisions: Required if the property is a strata property, including provisions related to management corporation and service charges

2. Renovation and Alterations: Include if the property requires or permits specific renovations before completion

3. Tenancy Provisions: Required if the property is currently tenanted, including provisions for vacant possession

4. Bank Financing: Include if the purchase is contingent on obtaining bank financing

5. Property Management: Required for properties in managed communities, detailing maintenance fees and obligations

6. GST Provisions: Include if the transaction is subject to Goods and Services Tax

7. Developer's Consent: Required if the property is still under developer's interest or restriction

8. Agent Commission: Include if real estate agents are involved in the transaction

What schedules should be included in a Residential Sales Contract?

1. Schedule 1 - Property Details: Detailed property specification including lot number, title details, and floor plan

2. Schedule 2 - Payment Schedule: Detailed breakdown of payment installments and due dates

3. Schedule 3 - Inventory List: List of fixtures, fittings, and furnishings included in the sale

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

5. Schedule 5 - Form 14A: Statutory transfer form under National Land Code

6. Appendix A - Property Documents: Copies of relevant property documents including title deed and strata title (if applicable)

7. Appendix B - Due Diligence Results: Results of searches and investigations on the property

8. Appendix C - Photographs: Current photographs of the property condition

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

Sale Agreement

Cost

Free to use
Relevant legal definitions



























Clauses


























Relevant Industries

Real Estate

Property Development

Banking and Finance

Legal Services

Property Management

Construction

Insurance

Property Investment

Residential Development

Property Consultancy

Relevant Teams

Legal

Real Estate

Property Development

Sales

Compliance

Risk Management

Finance

Operations

Customer Service

Documentation

Relevant Roles

Real Estate Agent

Property Lawyer

Conveyancing Executive

Property Developer

Bank Manager

Mortgage Officer

Property Manager

Legal Counsel

Compliance Officer

Sales Director

Property Consultant

Contract Administrator

Title Officer

Real Estate Transaction Coordinator

Property Valuation Specialist

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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