Pre Sale Agreement

Pre Sale Agreement Template for Malaysia

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Key Requirements PROMPT example:

"I need a Pre Sale Agreement for a luxury condominium unit in Kuala Lumpur with completion scheduled for March 2025, including provisions for premium facilities such as a private pool and smart home features, with a progressive payment schedule."

Document background

Pre-Sale Agreements are essential documents in Malaysian property development, used when selling properties that are still under construction or yet to be built. These agreements are strictly regulated under Malaysian law, particularly the Housing Development (Control and Licensing) Act 1966 and its regulations. A Pre Sale Agreement must include specific mandatory provisions to protect both developers and purchasers, such as payment schedules, construction timelines, specifications, and defect liability periods. The document serves as the primary contract between developers and buyers, establishing their respective rights, obligations, and remedies throughout the development process until the property's completion and handover.

Suggested Sections

1. Parties: Identification of the Developer/Vendor and the Purchaser with complete details as required by Malaysian law

2. Background: Context of the agreement, including property development details and relevant licenses

3. Definitions: Definitions of key terms used throughout the agreement, including statutory terms from Malaysian property laws

4. Property Details: Detailed description of the property including lot number, property type, built-up area, and location

5. Purchase Price: Total purchase price and payment schedule in accordance with Housing Development regulations

6. Payment Terms: Detailed payment structure, installment schedule, and payment methods

7. Construction and Completion: Timeline for construction, completion date, and delivery of vacant possession

8. Developer's Obligations: Developer's commitments including construction quality, specifications, and compliance with regulations

9. Purchaser's Obligations: Purchaser's responsibilities including payments, compliance with terms, and maintenance obligations

10. Defect Liability Period: Terms of the defect liability period as required by Malaysian law

11. Title and Transfer: Provisions regarding issuance and transfer of property title

12. Termination: Circumstances and procedures for termination of the agreement

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

14. Notices: Procedures for serving notices between parties

Optional Sections

1. Loan Financing: Include when purchaser requires bank financing, detailing loan terms and conditions

2. Special Features: Used when the property includes special facilities or premium features

3. Strata Title: Include for apartments or condominiums to address strata-specific requirements

4. Car Park: Include when parking lots are allocated or sold separately

5. Modifications: Include when purchaser is allowed to request property modifications

6. Management Corporation: Include for properties under strata management

7. Progressive Billing: Include when payment follows a progressive billing schedule different from standard schedule

Suggested Schedules

1. Schedule A - Property Specifications: Detailed technical specifications of the property including floor plans and materials

2. Schedule B - Payment Schedule: Detailed progressive payment schedule as per Housing Development regulations

3. Schedule C - Common Facilities: List and details of common facilities and amenities

4. Schedule D - Plans and Drawings: Approved architectural plans, layout plans, and location plans

5. Schedule E - Material and Workmanship Specifications: Detailed specifications of construction materials and quality standards

6. Schedule F - Special Features: Details of any special or premium features included in the property

7. Appendix 1 - Developer's Licenses: Copies of relevant development and business licenses

8. Appendix 2 - Land Title Documents: Copy of master title and other relevant land documents

Authors

Alex Denne

Head of Growth (Open Source Law) @ ��Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Real Estate

Property Development

Construction

Banking and Finance

Legal Services

Housing Development

Urban Planning

Architecture

Relevant Teams

Legal

Sales

Property Development

Construction

Compliance

Customer Relations

Finance

Architecture

Project Management

Contract Administration

Relevant Roles

Property Developer

Real Estate Lawyer

Project Manager

Sales Director

Construction Manager

Legal Counsel

Compliance Officer

Property Sales Executive

Development Manager

Contract Administrator

Real Estate Agent

Financial Controller

Architecture Manager

Customer Relations Manager

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Authors

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