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Offer To Purchase And Sale Agreement

Offer To Purchase And Sale Agreement Template for Malaysia

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Key Requirements PROMPT example:

Offer To Purchase And Sale Agreement

"I need an Offer to Purchase and Sale Agreement for a commercial property in Kuala Lumpur's Golden Triangle area, with completion scheduled for March 2025, including specific clauses for existing tenancies and building maintenance requirements."

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Document background
The Offer To Purchase And Sale Agreement is a fundamental legal document used in Malaysian property transactions to formalize the purchase and sale of real estate. This document is essential when any party wishes to purchase or sell property in Malaysia, whether for residential, commercial, or industrial purposes. It must comply with Malaysian property laws and regulations, including the National Land Code 1965, Contracts Act 1950, and relevant stamp duty requirements. The agreement typically includes comprehensive details about the property, payment terms, conditions precedent, warranties, and completion procedures. It serves as the primary reference point for the transaction and provides legal protection for both parties while ensuring all necessary legal requirements for property transfer in Malaysia are met.
Suggested Sections

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. Property Details: Complete description of the property including title details, lot number, and address

5. Purchase Price: Agreed purchase price and payment structure

6. Payment Terms: Detailed payment schedule including deposits and completion payment

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

8. Completion: Requirements and procedures for completing the sale

9. Vendor's Obligations: Responsibilities and warranties of the seller

10. Purchaser's Obligations: Responsibilities and obligations of the buyer

11. Title and Transfer: Provisions regarding transfer of title and ownership

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

13. Notices: How formal notices should be given between parties

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

Optional Sections

1. Construction Terms: Required if property is under construction, detailing construction specifications and timelines

2. Strata Title Provisions: Needed for apartments or condominiums, covering management corporation rules and shared facilities

3. Bank Financing: Include when purchaser requires bank financing, detailing loan conditions and requirements

4. Vacant Possession: Required if immediate vacant possession is part of the agreement

5. Special Conditions: Any unique terms specific to the transaction

6. Real Property Gains Tax: Detailed provisions if RPGT is applicable to the transaction

7. Broker/Agent Commission: Include if property agents are involved in the transaction

Suggested Schedules

1. Property Schedule: Detailed description of the property including boundaries, building plans, and specifications

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

3. Inventory List: List of fixtures, fittings, and furniture included in the sale if applicable

4. Title Particulars: Copy of land title or strata title details

5. Property Documents: Copies of relevant certificates, permits, and approvals

6. Defects List: List of existing defects if property is not new

7. Form of Transfer: Template for the property transfer document

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions







































Clauses






























Relevant Industries

Real Estate

Commercial Property

Residential Property

Industrial Property

Retail

Hospitality

Manufacturing

Logistics

Healthcare

Education

Relevant Teams

Legal

Real Estate

Property Management

Finance

Procurement

Business Development

Operations

Compliance

Risk Management

Corporate Affairs

Relevant Roles

Real Estate Manager

Property Developer

Legal Counsel

Corporate Lawyer

Property Manager

Facilities Manager

Investment Manager

Business Development Manager

Chief Financial Officer

Chief Executive Officer

Contract Administrator

Procurement Manager

Asset Manager

Real Estate Agent

Company Secretary

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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