The Offer To Purchase Form is a crucial document in Malaysian property transactions that initiates the formal property buying process. It is used when a prospective buyer wishes to formalize their intention to purchase a property and establish the basic terms of the proposed transaction. The document encompasses key elements required under Malaysian law, including property details, purchase price, payment terms, conditions precedent, and completion timeline. It serves as a preliminary agreement that, once accepted, creates legal obligations under the Malaysian Contracts Act 1950. This form is particularly important as it establishes the framework for the subsequent Sale and Purchase Agreement and must comply with local property regulations, including requirements set by the National Land Code 1965 and, where applicable, the Housing Development (Control and Licensing) Act 1966.
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1. Parties: Details of the prospective purchaser (offeror) and property owner (offeree), including full legal names, identification numbers, and addresses
2. Background: Brief context of the offer to purchase, including the property owner's intention to sell and the purchaser's intention to buy
3. Definitions: Key terms used throughout the document, including 'Property', 'Purchase Price', 'Deposit', 'Completion Date', etc.
4. Property Details: Complete description of the property including address, lot number, title details, and land area
5. Purchase Price: The offered purchase price in both numbers and words, including payment terms and schedule
6. Deposit: Amount of earnest deposit, payment method, and conditions for holding the deposit
7. Payment Terms: Detailed breakdown of payment schedule, including deposit, progressive payments, and balance payment
8. Conditions Precedent: Essential conditions that must be fulfilled before the sale can proceed
9. Timeline: Key dates including acceptance period, completion date, and vacant possession
10. Property State and Condition: Declaration of the expected state of the property upon handover
11. Representations and Warranties: Basic warranties about the property's ownership and encumbrances
1. Financing Clause: To be included when the purchase is contingent on obtaining bank financing, specifying loan amount and approval period
2. Strata Title Provisions: Required for apartments or condominiums, including details about maintenance fees and sinking fund
3. Tenancy Details: Include when the property is currently tenanted, addressing existing tenancy agreements
4. Renovation Clause: When buyer requests specific renovations or repairs to be completed before completion
5. Foreign Investment Approval: Required for foreign buyers, including conditions related to obtaining necessary government approvals
6. Special Conditions: Any unique requirements or conditions specific to the transaction
7. Due Diligence Period: When buyer requires time for property investigation or verification
1. Schedule A - Property Details: Detailed property description, including boundary marks, built-up area, and land area
2. Schedule B - Payment Schedule: Detailed breakdown of payment terms and timeline
3. Schedule C - Inventory List: List of fixtures, fittings, and furniture included in the sale (if applicable)
4. Schedule D - Property Documents: List of all relevant property documents to be provided by the seller
5. Appendix 1 - Property Photos: Recent photographs of the property's exterior and interior
6. Appendix 2 - Property Plans: Floor plans and location plans of the property
7. Appendix 3 - Title Search Results: Recent land title search results showing ownership and encumbrances
Relevant legal definitions
Acceptance Period
Bank
Completion Date
Deposit
Effective Date
Encumbrances
Identity Card
Land Office
Legal Fees
Offer
Offeror
Offeree
Payment Schedule
Property
Purchase Price
Purchaser
Registration Fees
Sale and Purchase Agreement
Stamp Duty
Title Deed
Transfer Document
Vacant Possession
Valuation Report
Vendor
Bank
Completion Date
Deposit
Effective Date
Encumbrances
Identity Card
Land Office
Legal Fees
Offer
Offeror
Offeree
Payment Schedule
Property
Purchase Price
Purchaser
Registration Fees
Sale and Purchase Agreement
Stamp Duty
Title Deed
Transfer Document
Vacant Possession
Valuation Report
Vendor
Clauses
Property Description
Purchase Price
Payment Terms
Deposit
Completion Period
Title and Ownership
Conditions Precedent
Property Inspection
Warranties
Encumbrances
Vacant Possession
Default
Time Essence
Notices
Assignment
Legal Costs
Stamp Duty
Property State
Registration
Force Majeure
Governing Law
Dispute Resolution
Entire Agreement
Severability
Purchase Price
Payment Terms
Deposit
Completion Period
Title and Ownership
Conditions Precedent
Property Inspection
Warranties
Encumbrances
Vacant Possession
Default
Time Essence
Notices
Assignment
Legal Costs
Stamp Duty
Property State
Registration
Force Majeure
Governing Law
Dispute Resolution
Entire Agreement
Severability
Relevant Industries
Real Estate
Property Development
Legal Services
Banking and Finance
Construction
Property Management
Real Estate Investment
Property Consultancy
Commercial Property
Residential Property
Relevant Teams
Legal
Real Estate
Property Management
Compliance
Sales
Finance
Investment
Operations
Business Development
Risk Management
Relevant Roles
Real Estate Agent
Property Lawyer
Conveyancing Executive
Property Manager
Legal Counsel
Real Estate Director
Property Developer
Bank Officer
Real Estate Investment Manager
Property Consultant
Legal Manager
Compliance Officer
Real Estate Transaction Coordinator
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