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Commercial Real Estate Purchase Agreement
"I need a Commercial Real Estate Purchase Agreement for acquiring a 5-story office building in Kuala Lumpur's Golden Triangle area, with existing tenants and completion planned for March 2025; the agreement must include special provisions for tenant management during ownership transition."
1. Parties: Identification of the Vendor and Purchaser, including registration details for companies or NRIC for individuals
2. Background: Context of the transaction 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 land area
5. Purchase Price: Agreed purchase price and payment structure
6. Payment Terms: Detailed payment schedule, deposit requirements, and balance payment arrangements
7. Conditions Precedent: Conditions that must be fulfilled before completion of the sale
8. Vendor's Obligations: Obligations and warranties provided by the vendor
9. Purchaser's Obligations: Obligations and undertakings of the purchaser
10. Completion: Completion procedures, timing, and requirements
11. Title and Transfer: Provisions regarding transfer of title and registration procedures
12. Default and Termination: Consequences of default and termination rights
13. Notices: Process for serving notices between parties
14. Governing Law: Confirmation of Malaysian law as governing law and jurisdiction
15. General Provisions: Standard boilerplate clauses including entire agreement, variations, and severability
1. Foreign Investment Approval: Required when purchaser is a foreign entity, detailing compliance with Malaysian foreign ownership restrictions
2. Strata Title Provisions: Required for stratified properties, including provisions about management corporation and service charges
3. Tenancy Provisions: Required when property is sold with existing tenants, addressing handover of tenancy deposits and agreements
4. Development Orders: Required when property is subject to specific development orders or planning permissions
5. Environmental Provisions: Required when property has environmental considerations or compliance requirements
6. GST Provisions: Required when transaction is subject to Goods and Services Tax
7. Renovation Works: Required when agreement includes terms about ongoing or planned renovation works
8. Property Management: Required for properties in managed commercial complexes
1. Property Schedule: Detailed property description, including boundaries, fixtures, and fittings
2. Title Particulars: Copy of land title and detailed title particulars
3. Payment Schedule: Detailed breakdown of payment terms and timing
4. Vendor's Deliverables: List of documents and items to be delivered by vendor
5. Conditions Precedent Checklist: Detailed list of conditions to be fulfilled before completion
6. Existing Tenancies: Details of existing tenancy agreements and deposits
7. Property Plans: Approved building plans and location plans
8. Due Diligence Results: Summary of property due diligence findings
9. Form 14A: Prescribed transfer form under National Land Code
10. Completion Checklist: List of requirements for completion of the sale
Authors
Real Estate
Commercial Property Development
Banking and Finance
Retail
Hospitality
Industrial Manufacturing
Logistics and Warehousing
Healthcare
Education
Professional Services
Technology and Data Centers
Legal
Real Estate
Finance
Operations
Facilities Management
Corporate Affairs
Risk Management
Compliance
Business Development
Asset Management
Chief Executive Officer
Chief Financial Officer
Real Estate Director
Property Manager
Legal Counsel
Corporate Lawyer
Real Estate Agent
Property Valuer
Facilities Manager
Business Development Manager
Investment Manager
Asset Manager
Company Secretary
Finance Director
Operations Director
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