Selling Property in Malaysia
Selling property involves more than agreeing on a price. A proper legal process is needed to document the sale, redeem any existing bank charge where necessary, comply with the agreed timelines, and complete the transaction with the correct transfer and handover arrangements.
At NNTA & Co, we act for property owners in Malaysia in residential, commercial, and investment property disposals. We help sellers manage the transaction from the initial offer stage to receipt of the balance purchase price and completion of the sale.
Our Legal Services for Sellers
- Preparing, reviewing, and negotiating the Sale and Purchase Agreement.
- Advising on the terms of the offer and deposit arrangements.
- Obtaining redemption statements from the existing financier.
- Coordinating with the purchaser's solicitors and financiers.
- Advising on title documents, developer documents, and consent requirements.
- Handling discharge of charge documentation where the property is still under bank financing.
- Advising on timelines for completion, extension, and late payment interest.
- Advising on RPGT-related documentation and retention sums where applicable.
- Coordinating completion, delivery of vacant possession, and handover of keys and documents.
Issues Commonly Faced by Sellers
Many sale transactions involve practical and legal issues that need to be addressed early. These may include an outstanding housing loan, lost title documents, developer consent requirements, leasehold consent issues, delayed release of redemption figures, tenanted properties, or disputes over fixtures and vacant possession.
A seller also needs to understand what deductions will be made from the purchase price, how redemption is settled, when the balance sum will be released, and what documents must be signed to complete the transfer.