Home Purchase Agreement Template for Malaysia

The Home Purchase Agreement serves as the primary legal document for residential property transactions in Malaysia. It is essential when transferring ownership of houses, apartments, or condominiums, whether they are new developments or resale properties. The agreement must comply with Malaysian property laws, including the National Land Code 1965, Housing Development Act 1966, and Strata Titles Act 1985 where applicable. It details crucial elements such as property specifications, purchase price, payment schedule, completion timeline, and warranties. This document is particularly important as it protects both buyers' and sellers' interests while ensuring compliance with Malaysian property transaction requirements, including proper title transfer procedures and statutory obligations.

1. Parties: Identification and details of the Vendor/Seller and Purchaser, including full names, identification numbers, and addresses

2. Background: Context of the transaction, including brief property description and intention to sell/purchase

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

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

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

6. Conditions Precedent: Conditions that must be fulfilled before completion, including property inspection and title searches

7. Completion: Terms and process for completing the sale, including timing and documentation requirements

8. Vendor's Warranties: Warranties regarding property ownership, condition, and encumbrances

9. Purchaser's Warranties: Warranties regarding financial capacity and compliance with relevant laws

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

11. Costs and Expenses: Allocation of legal fees, stamp duty, and other transaction costs

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

13. Notices: Process for serving notices between parties

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

15. Execution: Signing requirements and attestation details