The sale agreement is in the form of a Sale & Purchase agreement (SPA). These are fairly standard but it is best to have a lawyer representing your interests before signing any agreements.
A memorandum of transfer also has to be signed to transfer the title from the seller to the purchaser. In the case of a new development where the developer does not yet have full title the seller will state in the SPA that this will be given as soon as they have proper title.
Special Note: If you are planning to move here under the Malaysia My Second Home programme and are placing a Fixed Deposit to qualify for the MM2H visa then the date you purchase a property is important. You will only be permitted to withdraw part of your fixed deposit (after it has been on deposit for one year) towards the purchase of your property if the S&P is dated after the issuance of your visa.
Saturday, March 15, 2008
Sales & Purchase agreement
Sales & Purchase agreement
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