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Deposit Sale And Purchase Agreement
"I need a Deposit Sale and Purchase Agreement for a residential property in Kuala Lumpur, with a 10% deposit payable immediately and completion scheduled for March 2025; the agreement should include provisions for bank financing and vacant possession."
1. Parties: Identification and details of the Vendor and Purchaser
2. Background: Context of the transaction and brief description of the property being sold
3. Definitions: Definitions of key terms used throughout the agreement
4. Deposit Payment: Terms and conditions of the deposit payment, including amount and payment method
5. Sale and Purchase: Core terms of the sale including purchase price, payment structure, and completion timeline
6. Property Details: Detailed description of the property including title particulars and encumbrances
7. Conditions Precedent: Conditions that must be fulfilled before the agreement becomes fully effective
8. Vendor's Obligations: Obligations and warranties of the vendor regarding the property and transaction
9. Purchaser's Obligations: Obligations and warranties of the purchaser regarding the payment and completion
10. Completion: Requirements and procedures for completing the sale and purchase
11. Default and Termination: Consequences of default and circumstances for termination
12. Notices: Requirements for giving notices under the agreement
13. Governing Law: Specification of Malaysian law as governing law and jurisdiction
14. General Provisions: Standard boilerplate clauses including entire agreement, variations, and severability
1. Third Party Consents: Required when the property transfer requires approval from authorities or third parties
2. Strata Title: Applicable for properties under strata titles with specific requirements
3. Joint Owners: Required when there are multiple owners or purchasers involved
4. Bank Financing: Included when the purchase involves bank financing arrangements
5. Vacant Possession: Required when immediate vacant possession is part of the agreement
6. Tenancy: Included when the property is subject to existing tenancy agreements
7. GST/Tax Provisions: Required when specific tax arrangements need to be addressed
8. Development Order: Applicable for properties pending development approval
1. Property Schedule: Detailed description of the property including lot number, title details, and location
2. Payment Schedule: Breakdown of payment terms including deposit and balance payment details
3. Completion Documents: List of documents required for completion of the sale
4. Form of Transfer: Prescribed form for transfer of property under the National Land Code
5. Existing Encumbrances: Details of any existing charges, caveats, or other encumbrances
6. Vendor's Title Documents: Copies of relevant title documents and previous agreements
7. Property Condition Report: Current condition of the property and any included fixtures and fittings
8. Special Conditions: Any special terms or conditions specific to the transaction
Authors
Real Estate
Property Development
Banking and Finance
Construction
Commercial Property
Residential Property
Industrial Property
Retail Property
Agriculture (for agricultural land)
Hospitality
Legal
Real Estate
Property Management
Sales
Business Development
Compliance
Finance
Corporate Affairs
Risk Management
Operations
Property Lawyer
Real Estate Agent
Property Manager
Legal Counsel
Conveyancing Executive
Property Developer
Bank Manager
Mortgage Officer
Compliance Officer
Real Estate Investment Manager
Property Acquisition Manager
Asset Manager
Corporate Lawyer
Sales Director
Business Development Manager
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