Sale and Purchase Agreement (SPA) Lawyer in Malaysia
Practical legal assistance for purchasers and vendors throughout a property transaction, from SPA preparation and review to transfer, financing and completion.
Buying or Selling Property?
Buying or Selling Property in Malaysia?
A Sale and Purchase Agreement sets out the terms governing a property transaction, including the purchase price, payment obligations, completion timeline and responsibilities of the parties. Proper legal documentation and coordination help ensure that the transaction proceeds smoothly from signing through completion.
How We Can Assist
Legal assistance tailored to whether you are purchasing or disposing of a property.
Buying a Property
- Review property and title information
- Prepare or review the Sale and Purchase Agreement
- Advise on contractual terms and completion requirements
- Coordinate financing and loan documentation
- Attend to transfer documentation
- Coordinate stamp duty and registration matters
- Completion and vacant possession
Selling a Property
- Prepare or review the Sale and Purchase Agreement
- Advise on contractual obligations and timelines
- Attend to redemption of existing financing
- Coordinate RPGT-related documentation
- Liaise with the purchaser's solicitors
- Prepare completion account and apportionments
- Facilitate release of the balance purchase price
What is a Sale and Purchase Agreement?
A Sale and Purchase Agreement, commonly referred to as an SPA, is the principal contract governing the sale and purchase of a property. It records the agreed terms of the transaction and the respective obligations of the purchaser and vendor.
Depending on the transaction, the agreement may address title matters, financing, consent requirements, vacant possession, completion deadlines, existing encumbrances and the consequences of default.
Why Engage a Conveyancing Lawyer?
Protect Your Interests
Review contractual terms and identify issues that may affect the transaction.
Legal Documentation
Prepare and coordinate documentation required for the transaction.
Transaction Coordination
Liaise with banks, solicitors and relevant parties throughout the process.
Completion
Monitor contractual deadlines and facilitate transfer and completion.
Important Terms in an SPA
Purchase Price & Deposit
The SPA records the agreed purchase price, deposit paid and the manner in which the balance purchase price is to be settled.
Completion Period
The agreement specifies the period within which completion is to take place and the requirements to be fulfilled before completion.
Extension of Time
Where applicable, the SPA may provide for an extended completion period subject to interest or other agreed consequences.
Vacant Possession
The agreement may specify when and how vacant possession is to be delivered, together with the relevant conditions.
Existing Loan / Redemption
If the property is charged to a bank, redemption arrangements will generally need to be coordinated as part of the transaction.
Title & Encumbrances
The status of the title, restrictions in interest, charges or other encumbrances may affect the steps required for completion.
State Authority Consent
Certain transactions may require consent or approval before the transfer can be completed.
Apportionment of Outgoings
Outgoings such as maintenance charges, quit rent and assessment may need to be apportioned between the parties as at the completion date.
Default by Purchaser or Vendor
The SPA generally sets out the contractual consequences and remedies available if either party fails to perform its obligations.
The Conveyancing Process
Conveyancing Legal Fees
Legal fees for property conveyancing depend on the nature and value of the transaction and the applicable remuneration framework. A transaction may also involve stamp duty, registration fees, search fees and other disbursements.
For an accurate quotation, provide us with the property price, location and whether you are purchasing or selling.
Request a Conveyancing Quotation
Please provide:
- Property price
- Property location
- Whether you are the purchaser or vendor
- Whether financing is involved
Foreign Purchasers of Property in Malaysia
Foreign purchasers may be subject to additional requirements when acquiring property in Malaysia. Depending on the property and state in which it is located, minimum purchase thresholds, consent requirements and other restrictions may apply.
It is advisable to identify these requirements at an early stage of the transaction before committing to the purchase.
Why Clients Engage TEH & YU
Clear Communication
Practical explanations throughout the conveyancing process.
Transparent Fees
Fees and anticipated disbursements are explained at the outset.
Responsive Assistance
Clients are kept informed as their transaction progresses.
End-to-End Conveyancing
From SPA documentation through transfer and completion.
CLIENT FEEDBACK
What Our Clients Say
Frequently Asked Questions
How long does a property transaction normally take?
The timeline depends on the transaction, including whether financing, redemption, consent or other conditions are involved.
How much are SPA legal fees?
Legal fees depend on the transaction and applicable remuneration framework. Contact us with the property price and details for a quotation.
Who prepares the Sale and Purchase Agreement?
This depends on the nature of the transaction and the parties' arrangements. In a subsale transaction, the solicitors acting in the matter will generally coordinate the preparation and review of the SPA.
What happens after the SPA is signed?
The solicitors will proceed with the remaining conveyancing steps, which may include financing, redemption, consent, stamping, transfer documentation and completion arrangements.
What happens if a party fails to complete?
The consequences depend on the terms of the SPA and the nature of the default. The agreement should be reviewed to determine the applicable contractual rights and remedies.
Can a foreigner buy property in Malaysia?
Foreign purchasers may acquire eligible property subject to applicable state requirements, thresholds, restrictions and consent requirements.
What documents are commonly required?
The required documents vary depending on whether you are purchasing or selling, whether financing is involved, and the status of the property.
Do I need a lawyer if I am paying cash?
Even where no bank financing is involved, legal work remains necessary to document the transaction and attend to the transfer and completion process.
Buying or Selling a Property?
Speak to our conveyancing team regarding your property transaction or request a quotation.
Request a Conveyancing Quotation
Tell us a little about your property transaction. Your answers will be compiled into a WhatsApp message for you to review and send.