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Building Purchase Agreement
"I need a Building Purchase Agreement for acquiring a three-story commercial building in Kuala Lumpur's business district, with completion scheduled for March 2025 and specific provisions for existing tenant agreements to be transferred to the new owner."
1. Parties: Details of the vendor and purchaser, including full legal names, registration numbers for companies, and addresses
2. Background: Context of the transaction, brief description of the property, and purpose of the agreement
3. Definitions: Definitions of key terms used throughout the agreement
4. Sale and Purchase: Core agreement for the sale and purchase of the property, including the basic terms
5. Purchase Price: Details of the purchase price and payment structure
6. Property Details: Comprehensive description of the property, including lot number, title details, and built-up area
7. Conditions Precedent: Conditions that must be fulfilled before completion of the purchase
8. Vendor's Obligations: Obligations and warranties of the vendor regarding the property and transaction
9. Purchaser's Obligations: Obligations and commitments of the purchaser
10. Title and Transfer: Provisions regarding property title and transfer procedures
11. Completion: Requirements and procedures for completion of the sale
12. Default and Termination: Consequences of default and termination provisions
13. Notices: Requirements for giving notices under the agreement
14. General Provisions: Standard boilerplate clauses including governing law, entire agreement, etc.
1. Strata Title Provisions: Required if the property is under strata title, covering management corporation requirements and shared facilities
2. Construction Completion: Required if the building is under construction, including completion timelines and specifications
3. Existing Tenancies: Required if the building has existing tenants, addressing treatment of tenancy agreements
4. Renovation and Alterations: Required if specific renovation permissions or restrictions need to be addressed
5. Property Manager Appointment: Required if a property manager is to be appointed post-purchase
6. Environmental Matters: Required if there are specific environmental concerns or requirements
7. Planning Permissions: Required if future development or change of use is contemplated
8. Vacant Possession: Required if specific provisions for vacant possession need to be addressed
1. Property Description Schedule: Detailed description of the property including boundaries, floor plans, and fixtures
2. Payment Schedule: Detailed breakdown of payment terms, installments, and due dates
3. Title Particulars: Complete details of the property title and encumbrances
4. Completion Requirements: Checklist of documents and requirements for completion
5. Vendor's Deliverables: List of items, documents, and keys to be delivered at completion
6. Existing Conditions: Current condition report and inventory of the property
7. Warranties: Specific warranties given by the vendor regarding the property
8. Approved Plans: Building plans and permits approved by relevant authorities
Authors
Building
Business Day
Certificate of Completion
Completion
Completion Date
Consideration
Deposit
Encumbrance
Identity Card
Land Office
Local Authority
National Land Code
Property
Purchase Price
Purchaser
Registration Fee
Ringgit Malaysia
Sale Land
Stamp Duty
State Authority
Title
Transfer
Vacant Possession
Vendor
Warranties
Property Description
Title Conditions
Purchase Price
Payment Terms
Completion Requirements
Representations and Warranties
Property Transfer
Vacant Possession
Default and Termination
Force Majeure
Assignment
Risk and Insurance
Notices
Governing Law
Dispute Resolution
Entire Agreement
Severability
Costs and Expenses
Confidentiality
Further Assurance
Variation
Waiver
Time of Essence
Successors and Assigns
Indemnification
Stamp Duty
Registration
Condition Precedent
Property Maintenance
Real Estate
Commercial Property
Residential Property
Construction
Banking and Finance
Property Development
Hospitality
Retail
Industrial
Healthcare
Education
Legal
Real Estate
Property Management
Finance
Operations
Compliance
Risk Management
Facilities Management
Project Management
Business Development
Investment
Asset Management
Real Estate Manager
Property Development Manager
Legal Counsel
Contracts Manager
Facilities Manager
Property Investment Manager
Chief Financial Officer
Operations Director
Project Manager
Compliance Officer
Risk Manager
Asset Manager
Acquisition Manager
Real Estate Analyst
Property Portfolio Manager
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