Home Buyer Seller Agreement Form Template for Malaysia

The Home Buyer Seller Agreement Form is a crucial legal document used in Malaysian property transactions to formalize the sale and purchase of residential properties. This document is essential when transferring ownership of residential real estate in Malaysia, whether for landed properties or stratified developments. It must comply with the Housing Development (Control and Licensing) Act 1966 and various other Malaysian property laws and regulations. The agreement contains all necessary terms for the transaction, including property details, purchase price, payment schedule, completion requirements, and the rights and obligations of both parties. It serves as the primary contract document protecting both buyers' and sellers' interests in Malaysian residential property transactions.

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

2. Background: Brief context of the transaction and property ownership status

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

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

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

6. Payment Terms: Detailed schedule of payments including deposit, progressive payments if any, and completion payment

7. Completion: Conditions for completion of sale, timing, and delivery of vacant possession

8. Seller's Obligations: All obligations of the seller including providing clean title, settling utilities, and delivering vacant possession

9. Buyer's Obligations: All obligations of the buyer including payment, duty to obtain financing if required

10. Conditions Precedent: Conditions that must be fulfilled before completion can occur

11. Title and Transfer: Provisions regarding transfer of title and associated procedures

12. Representations and Warranties: Standard representations and warranties from both parties

13. Default and Termination: Consequences of default and termination rights

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

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

16. Execution: Signature blocks and execution formalities