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Resale Property Agreement For Sale Template for Malaysia

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Key Requirements PROMPT example:

Resale Property Agreement For Sale

"I need a Resale Property Agreement For Sale for a double-story terrace house in Petaling Jaya, Malaysia, with completion scheduled for March 2025, including standard payment terms with a 10% deposit."

Document background
The Resale Property Agreement For Sale is a crucial legal document used in Malaysia when transferring ownership of previously owned real estate from a seller (vendor) to a buyer (purchaser). This agreement is essential for any secondary market property transaction in Malaysia and must comply with various local regulations including the National Land Code 1965, Contracts Act 1950, and state-specific property laws. The document comprehensively covers all aspects of the property sale, from initial deposit to final transfer of title, and includes important details such as property specifications, payment terms, conditions precedent, and completion requirements. It's designed to protect both parties' interests and ensure a smooth transfer of property ownership while addressing potential issues such as title defects, existing encumbrances, or special conditions of sale.
Suggested Sections

1. Parties: Identifies and provides full details of the Vendor and Purchaser, including their legal names, identification numbers, and addresses

2. Background: Sets out the context of the agreement, including that the Vendor is the registered proprietor of the property and wishes to sell it to the Purchaser

3. Definitions: Defines key terms used throughout the agreement for clarity and legal certainty

4. Sale and Purchase: States the agreement to sell and purchase the property and the purchase price

5. Property Details: Comprehensive description of the property including title details, address, and land area

6. Payment Terms: Details the purchase price, deposit amount, and payment schedule

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

8. Vendor's Obligations: Lists all obligations and warranties provided by the Vendor

9. Purchaser's Obligations: Lists all obligations and commitments of the Purchaser

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

11. Title and Transfer: Addresses transfer of title and related procedures

12. Default: Specifies consequences of default by either party

13. Notices: Specifies how formal notices should be given between parties

14. General Provisions: Standard contractual provisions including governing law, whole agreement, and amendments

Optional Sections

1. Foreign Investment: Required when the Purchaser is a foreign national, addressing additional requirements under Malaysian law

2. Existing Tenancies: Required when the property is sold subject to existing tenancies

3. Renovation Works: Required when there are ongoing or planned renovation works

4. Bank Financing: Required when the purchase is contingent on obtaining bank financing

5. Strata Title: Required for apartments or condominiums under strata title

6. Real Property Gains Tax: Required when specific RPGT arrangements need to be documented

7. Vacant Possession: Required when specific terms about vacant possession need to be included

Suggested Schedules

1. Schedule 1 - Property Details: Detailed description of the property including lot number, title details, and exact measurements

2. Schedule 2 - Payment Schedule: Detailed breakdown of payment terms and timeline

3. Schedule 3 - Title Particulars: Copy of land title or strata title particulars

4. Schedule 4 - Inventory List: List of fixtures and fittings included in the sale

5. Schedule 5 - Form 14A: Transfer of title form as required under National Land Code

6. Appendix A - Property Documents: Copies of relevant property documents including latest quit rent and assessment receipts

7. Appendix B - Due Diligence Results: Results of title and encumbrance searches

8. Appendix C - Property Photos: Current photographs of the property condition

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

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Relevant Industries

Real Estate

Property Development

Banking and Finance

Legal Services

Property Management

Construction

Real Estate Investment

Property Consultancy

Facilities Management

Relevant Teams

Legal

Real Estate

Property Management

Sales

Compliance

Corporate Services

Risk Management

Operations

Documentation

Business Development

Relevant Roles

Real Estate Agent

Property Lawyer

Conveyancing Executive

Property Manager

Legal Counsel

Real Estate Manager

Property Consultant

Compliance Officer

Real Estate Broker

Title Officer

Property Valuer

Sales Director

Legal Director

Property Development Manager

Transaction Manager

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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