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Real Estate Sales Agreement Template for Malaysia

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Key Requirements PROMPT example:

Real Estate Sales Agreement

"I need a Real Estate Sales Agreement for the sale of a commercial property in Kuala Lumpur from my company to a foreign corporation, with completion scheduled for March 2025 and including provisions for existing tenant agreements."

Document background
The Real Estate Sales Agreement is a crucial legal instrument used in Malaysian property transactions to formalize the sale and purchase of real estate. This document is essential when transferring ownership of any type of real property, whether residential, commercial, or industrial. It must comply with Malaysian legal requirements, including the National Land Code 1965, Contracts Act 1950, and Stamp Act 1949. The agreement typically includes detailed property descriptions, purchase price, payment terms, conditions precedent, warranties, and completion requirements. It's particularly important in Malaysia due to specific local requirements regarding land ownership, bumiputera quotas, and foreign ownership restrictions. The document serves as the primary evidence of the transaction terms and protects both parties' interests throughout the sale process.
Suggested Sections

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

2. Background: Recitals explaining the context of the sale and brief description of the property

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

4. Property Details: Comprehensive description of the property including lot number, title details, and exact measurements

5. Purchase Price: Statement of the agreed purchase price and payment terms including deposit and completion payment details

6. Payment Terms: Detailed breakdown of payment schedule, method of payment, and consequences of late payment

7. Conditions Precedent: Any conditions that must be fulfilled before completion of the sale

8. Vendor's Obligations: All obligations and warranties provided by the vendor including title guarantee and property condition

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

10. Completion: Details of the completion process, including timing, location, and documentation requirements

11. Default Provisions: Consequences and remedies in case of default by either party

12. Notices: Process and requirements for serving notices under the agreement

13. Governing Law: Specification of Malaysian law as governing law and jurisdiction details

14. Execution: Signature blocks and execution requirements

Optional Sections

1. Strata Title Provisions: Required when the property is a strata-titled property, covering management corporation rules and maintenance fees

2. Foreign Investment Approval: Required when the purchaser is a foreign national or entity, addressing FIC guidelines and approvals

3. Tenancy Details: Required when the property is sold with existing tenants, covering handover of tenancy agreements and deposits

4. Property Financing: Required when the purchase involves bank financing, including conditions related to loan approval

5. Development Orders: Required for properties under construction or pending development approvals

6. GST Provisions: Required when the transaction is subject to Goods and Services Tax

7. Special Conditions: For any unique requirements specific to the particular transaction

Suggested Schedules

1. Schedule 1 - Property Details: Detailed property information including exact measurements, boundaries, and title particulars

2. Schedule 2 - Payment Schedule: Detailed breakdown of payment terms including installment amounts and due dates

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

4. Schedule 4 - Title Conditions: List of existing encumbrances, easements, and restrictions on the title

5. Appendix A - Property Documents: Copies of relevant property documents including title deed and land survey

6. Appendix B - Property Plans: Floor plans, location maps, and other relevant property layouts

7. Appendix C - Completion Checklist: List of documents and actions required for completion

8. Appendix D - Relevant Approvals: Copies of planning permissions, certificates of fitness, and other regulatory approvals

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions




























Clauses





























Relevant Industries

Real Estate

Property Development

Construction

Banking & Finance

Legal Services

Property Investment

Housing Development

Commercial Property

Residential Property

Property Management

Relevant Teams

Legal

Real Estate

Compliance

Property Management

Sales

Business Development

Risk Management

Finance

Operations

Corporate Affairs

Relevant Roles

Real Estate Agent

Property Lawyer

Conveyancing Executive

Property Developer

Legal Counsel

Real Estate Manager

Property Investment Manager

Compliance Officer

Real Estate Broker

Property Consultant

Title Officer

Contract Administrator

Business Development Manager

Property Sales Director

Legal Director

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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