Document background
The Buy Sell Agreement For A House is a fundamental legal document used in Malaysian property transactions to formalize the sale and purchase of residential properties. It serves as the primary contract between the vendor and purchaser, incorporating all essential terms and conditions required by Malaysian law, particularly the Housing Development (Control and Licensing) Act 1966 and the National Land Code 1965. This agreement is necessary whenever a residential property transaction occurs in Malaysia, whether involving private sellers, developers, or real estate companies. It includes crucial details such as property specifications, purchase price, payment schedule, completion terms, and both parties' obligations. The document must comply with state-specific requirements and may need to address additional considerations such as bank financing, strata titles for apartments, or existing tenancies.
