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House Selling Agreement Form

House Selling Agreement Form Template for Malaysia

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Key Requirements PROMPT example:

House Selling Agreement Form

"I need a House Selling Agreement Form for a double-story terrace house in Petaling Jaya, Malaysia, with a completion date of March 15, 2025, including provisions for existing tenant transition and renovation allowances."

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Document background
The House Selling 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 houses, ensuring compliance with Malaysian property law, particularly the National Land Code 1965 and related legislation. It should be used whenever a residential property is being sold between private parties, by developers, or through agents. The agreement includes detailed provisions covering property specifications, payment terms, conditions precedent, warranties, and completion requirements. It also addresses key aspects such as title transfer, vacant possession, and default remedies, while incorporating necessary provisions for stamp duty and registration requirements under Malaysian law.
Suggested Sections

1. Parties: Identification and details of the Vendor (seller) and Purchaser (buyer)

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

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

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

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

6. Payment Terms: Detailed breakdown of payment schedule and method of payment

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

8. Vendor's Obligations: Responsibilities and warranties of the seller including delivery of vacant possession

9. Purchaser's Obligations: Responsibilities of the buyer including payment obligations and due diligence

10. Completion: Process and requirements for completing the sale including timing and documentation

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

12. Default and Termination: Consequences of default by either party and termination provisions

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

14. Governing Law: Confirmation that Malaysian law governs the agreement

Optional Sections

1. Strata Title Provisions: Required if the property is an apartment or condominium, covering maintenance fees and sinking funds

2. Tenant Provisions: Required if the property is currently tenanted, addressing handover of tenancy

3. Renovation Agreement: Required if there are ongoing or agreed renovations to be completed before/after sale

4. Bank Financing: Required if the purchase is contingent on successful bank financing

5. Property Insurance: Required if specific insurance arrangements need to be maintained during the sale process

6. Joint Ownership: Required if the property is being purchased by multiple buyers

7. Special Conditions: For any unique requirements specific to the property or transaction

Suggested Schedules

1. Schedule 1 - Property Details: Detailed property specification including lot number, title details, and land area

2. Schedule 2 - Payment Schedule: Detailed breakdown of payment installments and due dates

3. Schedule 3 - Property Inventory: List of fixtures, fittings, and other items included in the sale

4. Schedule 4 - Title Particulars: Copy of land title or strata title details

5. Schedule 5 - Outstanding Charges: List of any outstanding charges, taxes, or assessments on the property

6. Appendix A - Property Photos: Recent photographs of the property's interior and exterior

7. Appendix B - Property Plans: Floor plans and land surveys of the property

8. Appendix C - Renovation Plans: If applicable, plans for agreed renovations or modifications

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

Property Development

Legal Services

Banking and Finance

Construction

Insurance

Property Management

Residential Housing

Professional Services

Property Investment

Relevant Teams

Legal

Real Estate

Sales

Compliance

Property Management

Conveyancing

Business Development

Risk Management

Document Control

Client Relations

Relevant Roles

Real Estate Agent

Property Lawyer

Conveyancing Executive

Property Developer

Sales Director

Legal Counsel

Property Manager

Compliance Officer

Bank Manager

Property Valuer

Sales Manager

Contract Administrator

Real Estate Broker

Title Officer

Property Consultant

Industries
National Land Code 1965: The fundamental law governing land matters in Peninsular Malaysia, including property ownership, transfer of titles, and registration of land dealings
Contracts Act 1950: Provides the legal framework for formation and enforcement of contracts, including property sale agreements
Housing Development (Control and Licensing) Act 1966: Regulates housing developments and protects the interests of house buyers
Stamp Act 1949: Governs the stamp duty payments required for property transfer documents and agreements
Real Estate and Housing Developers' Association (REHDA) Guidelines: Industry guidelines that provide standard practices for property transactions and development
Strata Titles Act 1985: Relevant if the property is a stratified property (apartment/condominium), governing rights and responsibilities of owners
Street, Drainage and Building Act 1974: Ensures compliance with building standards and regulations for residential properties
Real Property Gains Tax Act 1976: Governs the taxation of gains from property disposals
Valuers, Appraisers and Estate Agents Act 1981: Regulates real estate agents and property valuations involved in the transaction
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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