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Real Estate Offer And Acceptance Form Template for Malaysia

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Key Requirements PROMPT example:

Real Estate Offer And Acceptance Form

"I need a Real Estate Offer and Acceptance Form for purchasing a commercial shophouse in Kuala Lumpur's Bukit Bintang area, with an expected completion date in March 2025 and including provisions for existing tenant arrangements."

Document background
The Real Estate Offer And Acceptance Form is a fundamental document in Malaysian property transactions, used at the initial stage of a property sale to document the buyer's formal offer and the seller's acceptance. This document is essential in both residential and commercial property transactions throughout Malaysia, serving as a preliminary binding agreement before the execution of the full Sale and Purchase Agreement. It must comply with Malaysian property laws, including the National Land Code 1965 and Contracts Act 1950, and typically includes key information such as property details, purchase price, payment terms, and conditions precedent. The form is widely used by property agents, lawyers, and property developers to ensure all parties' interests are protected and the transaction proceeds smoothly under Malaysian law.
Suggested Sections

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

2. Background: Brief context of the transaction and property being offered for sale

3. Definitions: Key terms used throughout the document including Property, Purchase Price, Completion Date, etc.

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

5. Purchase Price: Agreed purchase price and payment terms including deposit amount and payment schedule

6. Terms of Payment: Detailed breakdown of payment structure, timing, and method of payment

7. Conditions Precedent: Essential conditions that must be fulfilled before the agreement becomes binding

8. Completion: Timeline and procedures for completing the transaction

9. Vendor's Warranties: Warranties regarding property ownership, encumbrances, and condition

10. Property Handover: Terms and conditions for the physical handover of the property

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

12. Execution: Signing requirements and witness details

Optional Sections

1. Tenancy Status: Required if the property is currently tenanted, detailing existing tenancy arrangements

2. Strata Title Provisions: Required for apartments or condominiums, including maintenance fees and sinking fund details

3. Renovation Status: Required if there are existing renovation works or approval for future renovations

4. Foreign Investment Approval: Required if the purchaser is a foreign national, detailing necessary approvals

5. GST/Tax Provisions: Required if the transaction is subject to GST or specific tax considerations

6. Property Agent Details: Required if property agents are involved in the transaction

7. Furniture and Fittings: Required if the sale includes specific furniture or fittings

Suggested Schedules

1. Property Description Schedule: Detailed description of the property including boundaries, built-up area, and land area

2. Payment Schedule: Detailed breakdown of payment installments and timing

3. Inventory List: List of furniture, fittings, and other items included in the sale

4. Property Condition Report: Current condition of the property and any defects

5. Title Search Results: Recent land title search results showing ownership and encumbrances

6. Strata By-Laws: For stratified properties, the applicable by-laws and regulations

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

Banking and Finance

Legal Services

Construction

Property Management

Real Estate Investment

Relevant Teams

Legal

Real Estate

Sales

Compliance

Property Management

Business Development

Documentation

Finance

Relevant Roles

Real Estate Agent

Property Lawyer

Conveyancing Executive

Property Developer

Bank Officer

Property Manager

Legal Counsel

Real Estate Investment Manager

Property Valuer

Compliance Officer

Sales Director

Property Consultant

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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