Wholesale Real Estate Contract Template for Malaysia

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Key Requirements PROMPT example:

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."

Document background
The Wholesale Real Estate Contract is designed for use in Malaysian property transactions where a wholesaler acts as an intermediary between a property owner and potential end buyers. This document type is particularly relevant when investors or real estate professionals seek to contract for property purchase rights with the intention of assigning those rights to another buyer for a profit. The agreement must comply with Malaysian property law, including the National Land Code 1965, Contracts Act 1950, and relevant property regulations. It includes comprehensive provisions for property description, purchase terms, assignment rights, due diligence periods, and closing requirements. The document is structured to protect all parties' interests while facilitating efficient property assignments, making it essential for wholesale real estate transactions in the Malaysian market.
Suggested Sections

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

Optional Sections

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

Suggested Schedules

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

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

Relevant Industries

Real Estate

Property Development

Legal Services

Banking and Finance

Property Investment

Construction

Property Management

Real Estate Investment Trusts (REITs)

Urban Development

Commercial Property

Relevant Teams

Legal

Real Estate

Compliance

Property Management

Investment

Business Development

Operations

Finance

Risk Management

Document Control

Relevant Roles

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

Industries
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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