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Cash Sale House Contract

Cash Sale House Contract Template for Malaysia

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Key Requirements PROMPT example:

Cash Sale House Contract

"I need a Cash Sale House Contract for a double-story terrace house in Petaling Jaya, with completion planned for March 2025, including special provisions for existing renovations and built-in furniture that will be included in the sale."

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Document background
The Cash Sale House Contract is a fundamental legal document used in Malaysian property transactions where the purchaser intends to buy a residential property through full cash payment, without mortgage financing. This contract type is commonly used in Malaysia for straightforward property transactions, particularly in the secondary market. It must comply with Malaysian property law, including the National Land Code 1965, Contracts Act 1950, and other relevant legislation. The document typically includes comprehensive details about the property, parties involved, purchase price, payment terms, conditions precedent, warranties, and completion procedures. It serves as the primary agreement governing the entire transaction process from initial agreement to the final transfer of property ownership.
Suggested Sections

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

2. Background: Brief context of the sale and confirmation of the Vendor's ownership and right to sell

3. Definitions: Definitions of key terms used throughout the agreement

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

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

6. Conditions Precedent: Conditions that must be fulfilled before completion of the sale

7. Vendor's Obligations: Obligations of the seller including providing good title and vacant possession

8. Purchaser's Obligations: Obligations of the buyer including payment terms and due diligence responsibilities

9. Completion: Details of the completion process, timing, and requirements

10. Title and Transfer: Provisions regarding the transfer of title and registration process

11. Representations and Warranties: Standard warranties about the property's condition and ownership

12. Default: Consequences of default by either party

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

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

15. Execution: Signature blocks and execution formalities

Optional Sections

1. Strata Title Provisions: Required if the property is a stratified property such as an apartment or condominium

2. Tenancy Provisions: Required if the property is currently tenanted

3. Renovation Works: Required if there are ongoing or agreed renovation works

4. Property Management: Required for properties within managed communities or buildings

5. GST Provisions: Required if the transaction is subject to GST

6. Third Party Consent: Required if any third party consents are needed for the sale

7. Developer's Consent: Required if the property is still under developer's interest

8. Bank Discharge: Required if there is an existing charge on the property

Suggested Schedules

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

2. Schedule 2 - Title Particulars: Complete details from the land title or strata title

3. Schedule 3 - Inventory List: List of fixtures and fittings included in the sale

4. Schedule 4 - Payment Schedule: Detailed breakdown of payment terms and timelines

5. Appendix A - Property Documents: Copies of relevant property documents including title deed

6. Appendix B - Property Plans: Floor plans and location plans of the property

7. Appendix C - Photographs: Current photographs of the property's condition

8. Appendix D - Relevant Permits: Copies of relevant permits and certificates

Authors

Alex Denne

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

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Real Estate

Legal Services

Banking and Finance

Property Development

Construction

Property Management

Professional Services

Public Sector

Housing Development

Relevant Teams

Legal

Real Estate

Conveyancing

Property Management

Sales

Compliance

Corporate Services

Administration

Property Development

Documentation

Relevant Roles

Real Estate Lawyer

Property Lawyer

Conveyancing Executive

Real Estate Agent

Property Manager

Legal Counsel

Contract Manager

Property Developer

Sales Director

Compliance Officer

Property Valuer

Land Administrator

Legal Executive

Housing Development Officer

Industries
National Land Code 1965: The fundamental law governing land matters in Peninsular Malaysia, including land ownership, registration, and transfer procedures
Contracts Act 1950: Governs the formation and enforcement of contracts in Malaysia, including property sale agreements
Housing Development (Control and Licensing) Act 1966: Regulates housing development and protects homebuyers' interests in Malaysia
Stamp Act 1949: Governs the stamp duty payments required for property transfer documents and agreements
Real Property Gains Tax Act 1976: Regulates tax on gains from property disposals, which needs to be considered in the sale contract
Street, Drainage and Building Act 1974: Ensures compliance with building and structural requirements for residential properties
Strata Titles Act 1985: Relevant if the property is a stratified property like an apartment or condominium
Local Government Act 1976: Governs local authority requirements and assessments related to property ownership
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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