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  • Comments Off on Agreement to Purchase / Offer to Purchase
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Agreement to Purchase / Offer to Purchase

Agreement to Purchase/Offer to Purchase

Details Required

Vendor and Purchaser’s full name, and national identity card number

Description of the purchased property, property full address

Purchase price in ringgit Malaysia including or excluding GST (Goods and Services Tax)

Earnest Deposit, normally 3% of total purchase price

Method of payment via cheque, cash, bank draft, online transfer etc

 

Terms and Conditions

Deposit

Ten (10%) percentage of total purchase price as deposit inclusive of 3% earnest deposit shall pay to Vendor upon signing of Sale and Purchase Agreement (SPA).

Balance Purchase Price

The ninety (90%) percentage of balance purchase price shall be paid within ninety (90) days from the date of signing Sale and Purchase Agreement or obtaining developer confirmation or consent or land office consent, or foreigner consent or any relevant authority consent or obtaining certificate of completion and compliance or certificate of fitness whichever is later and applicable.

Extension of Payment of Balance Purchase Price

In the event of purchaser failing to pay the balance purchase price within the stipulated period, purchaser is granted the extension of one month or as agree period, with the interest rate of eight percentage (8%) or as agree percentage per annum on the balance purchase price, calculated on a day to day basis on the balance outstanding of purchase price.

Date of Signing the SPA

Sale and Purchase Agreement shall be sign by both parties at the stipulated date, normally is 14-21 workings days from the date of Vendor acceptance.

Default by Vendor or Purchaser

Abortive by Vendor, the earnest deposit shall refund to purchaser together with the compensation of equivalent sum.  Abortive by Purchaser the earnest deposit will forfeit by Vendor. In the event of abortive happened before signing Sale and Purchase Agreement, the earnest deposit will be forfeit, whereas if abortive happened after signing Sale and Purchase Agreement but prior to transfer of title, then Ten percentage (10%) of deposit will be forfeit.

Binding Contract

Agreement to purchase is constitute as a binding contract prior to signing the Sale and Purchase Agreement.

Others

Vacant possession or Legal possession

With or without Tenancy Contract

Inventory List

Agreement to Purchase / Offer to Purchase