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Real Estate Offer To Purchase
"I need a Real Estate Offer to Purchase agreement for a foreign buyer purchasing a luxury condominium in Kuala Lumpur, with completion planned for March 2025, including specific provisions for foreign ownership approval and bank financing conditions."
1. Parties: Identification and details of the purchaser making the offer and the seller
2. Background: Context of the offer and brief description of the property being purchased
3. Definitions: Key terms used throughout the document
4. Property Details: Complete legal description of the property including title details, lot number, and address
5. Purchase Price: Offered purchase price and payment terms including deposit amount
6. Payment Terms: Structure and timeline of payments, including deposit, progressive payments, and final settlement
7. Conditions Precedent: Conditions that must be fulfilled before the agreement becomes binding
8. Due Diligence Period: Timeframe and terms for conducting property investigations and searches
9. Completion: Terms and process for completing the purchase, including closing date and requirements
10. Seller's Warranties: Warranties regarding property title, condition, and encumbrances
11. Default and Termination: Consequences of default by either party and termination provisions
12. Notices: How formal communications between parties should be made
13. Governing Law: Confirmation of Malaysian law as governing law and jurisdiction
1. Strata Title Provisions: Additional terms specific to strata properties, used when purchasing apartments or condominiums
2. Tenancy Details: Used when the property is currently tenanted, addressing existing tenancy agreements
3. Property Condition: Specific terms about the condition of the property, used when there are known issues or specific requirements
4. Renovation Terms: Used when specific renovation work is agreed to be completed before completion
5. Foreign Ownership: Additional terms required when the purchaser is a foreign national, addressing compliance with Malaysian foreign ownership restrictions
6. Developer's Consent: Required when the property is still under developer's control or has restrictions on resale
7. Islamic Finance Provisions: Additional terms when the purchase is being financed through Islamic banking facilities
1. Property Schedule: Detailed property information including floor plans, boundaries, and included fixtures and fittings
2. Payment Schedule: Detailed breakdown of payment terms, amounts, and due dates
3. Title Search Results: Results of land office searches showing title details and encumbrances
4. Property Inspection Report: Findings from property inspection, if conducted
5. Inventory List: List of fixtures, fittings, and furnishings included in the sale
6. Required Consents: Copies of necessary consents or approvals required for the sale
7. Outstanding Charges: Details of any outstanding charges, assessments, or taxes affecting the property
Authors
Real Estate
Property Development
Legal Services
Banking & Finance
Property Management
Construction
Real Estate Investment
Property Consultancy
Legal
Real Estate
Sales
Compliance
Property Management
Business Development
Documentation
Risk Management
Corporate Advisory
Investment
Real Estate Agent
Property Lawyer
Conveyancing Executive
Property Manager
Real Estate Developer
Bank Manager
Property Valuer
Real Estate Investment Manager
Legal Counsel
Compliance Officer
Property Consultant
Real Estate Broker
Sales Director
Transaction Manager
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