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Wholesale Real Estate Contract
"I need a Wholesale Real Estate Contract for acquiring rights to a residential property in Kuala Lumpur, with a 14-day assignment period and the ability to assign the contract to up to three potential end buyers before March 2025."
1. Parties: Identification of the property owner (seller) and the wholesaler (buyer), including full legal names, identification numbers, and addresses
2. Background: Context of the transaction, establishing the wholesale nature of the deal and the parties' intentions
3. Definitions: Key terms used throughout the agreement, including specific wholesale real estate terminology
4. Property Details: Complete legal description of the property, including lot number, title details, and property address
5. Purchase Price and Payment Terms: Agreed purchase price, earnest money details, and payment schedule
6. Assignment Rights: Explicit rights of the wholesaler to assign the contract to another buyer
7. Due Diligence Period: Timeframe and conditions for property inspection, title search, and other investigations
8. Closing Terms: Closing date, location, and requirements for completion of the transaction
9. Representations and Warranties: Statements of fact by both parties regarding the property and their authority to enter into the agreement
10. Default and Remedies: Consequences of breach and available remedies for both parties
11. Governing Law: Specification of Malaysian law as governing law and jurisdiction
1. Property Management During Contract Period: Used when there's a significant gap between contract signing and closing, defining responsibility for property maintenance
2. Tenant Provisions: Include when the property is currently tenanted, addressing lease agreements and tenant rights
3. Special Conditions: For properties requiring specific repairs, renovations, or having unique characteristics
4. Environmental Matters: Include for properties with potential environmental concerns or requiring environmental assessments
5. GST Provisions: Include when the transaction is subject to Goods and Services Tax
6. Multiple Property Provisions: Used when the wholesale deal involves multiple properties under one contract
1. Schedule A - Property Description: Detailed legal description of the property, including boundaries and easements
2. Schedule B - Inventory List: List of fixtures, fittings, and other items included in the sale
3. Schedule C - Due Diligence Documents: List of required documents to be provided by the seller during due diligence
4. Schedule D - Payment Schedule: Detailed breakdown of payment terms and installments
5. Schedule E - Existing Encumbrances: List of existing liens, mortgages, or other encumbrances on the property
6. Appendix 1 - Property Photos and Plans: Recent photographs and floor plans of the property
7. Appendix 2 - Assignment Form: Template for assigning the contract to an end buyer
8. Appendix 3 - Title Documents: Copies of relevant title documents and land office records
Authors
Assignment
Assignment Date
Business Day
Completion
Completion Date
Deposit
Due Diligence Period
Earnest Money
End Buyer
Encumbrances
Identity Card
Land Office
Legal Fee
Material Defect
Original Owner
Party
Permitted Assignee
Property
Purchase Price
Real Property Gains Tax
Registration Fee
Sale and Purchase Agreement
Stamp Duty
Title
Transaction Documents
Transfer
Valuation Report
Wholesaler
Wholesale Fee
Purchase Price
Payment Terms
Assignment Rights
Due Diligence
Property Inspection
Title Transfer
Representations and Warranties
Conditions Precedent
Completion
Default
Termination
Force Majeure
Indemnification
Property Condition
Encumbrances
Assignment Fee
Confidentiality
Notices
Stamp Duty
Registration
Governing Law
Dispute Resolution
Insurance
Taxes
Property Access
Time Essence
Entire Agreement
Amendments
Severability
Real Estate
Property Development
Legal Services
Banking and Finance
Property Investment
Construction
Property Management
Real Estate Investment Trusts (REITs)
Urban Development
Commercial Property
Legal
Real Estate
Compliance
Property Management
Investment
Business Development
Operations
Finance
Risk Management
Document Control
Real Estate Investor
Property Wholesaler
Real Estate Agent
Property Lawyer
Legal Counsel
Contract Manager
Property Manager
Investment Manager
Real Estate Broker
Transaction Coordinator
Compliance Officer
Real Estate Developer
Investment Analyst
Property Valuer
Business Development Manager
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