Pre Sale Purchase Agreement Template for Malaysia

The Pre Sale Purchase Agreement is a crucial document in Malaysian property development, used when purchasing property that is yet to be constructed or is under construction. This agreement is strictly regulated under the Housing Development (Control and Licensing) Act 1966 and its regulations, which mandate specific terms and protections for homebuyers. The document serves as a legally binding contract between developers and purchasers, outlining construction specifications, payment schedules, completion deadlines, and quality standards. It includes provisions for vacant possession, defect liability, and property maintenance, while ensuring compliance with local building regulations and development standards. This agreement type is essential for off-plan property purchases and provides legal protection for both developers and buyers throughout the development process.

1. Parties: Identification of the Developer/Vendor and the Purchaser with full details

2. Background: Recitals explaining the development project, property details, and context of the agreement

3. Definitions and Interpretation: Definitions of key terms and interpretation rules for the agreement

4. Sale and Purchase: Core agreement for the sale and purchase of the property

5. Purchase Price: Specified purchase price and payment schedule in accordance with regulations

6. Construction and Specifications: Details of construction standards, materials, and specifications

7. Time for Delivery of Vacant Possession: Completion timeline and conditions for delivering vacant possession

8. Defect Liability Period: Terms of the defect liability period and process for defect rectification

9. Maintenance Charges and Sinking Fund: Provisions for maintenance fees and sinking fund contributions

10. Utilities and Services: Responsibilities for utility connections and service provisions

11. Title and Transfer: Conditions regarding property title and transfer procedures

12. Developer's Covenants: Developer's warranties, undertakings, and obligations

13. Purchaser's Covenants: Purchaser's warranties, undertakings, and obligations

14. Termination: Circumstances and procedures for agreement termination

15. Force Majeure: Provisions for unforeseen circumstances affecting contract performance

16. Notices: Requirements for serving notices between parties

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

18. Execution: Formal execution clauses and signing requirements