The two most important documents when buying a house are Sale and Purchase Agreement and Loan Agreement Malaysia 2023.

Sale and Purchase Agreement

a. Sale and Purchase Agreement ( SPA )

What is Sale and Purchase Agreement?

Sale and Purchase Agreement is an agreement between a seller and purchaser.

Sale and Purchase Agreement in malay is called Perjanjian Jual Beli.

In the Sale and Purchase Agreement, a seller and purchaser will agree on specific terms.

And don’t be a surprise when Sale and Purchase Agreement can be altered according to the Seller or Purchaser requirement.

If you have a request to the Seller and Seller agree to fulfill the request, it is wise to write down the condition in the Sale and Purchase Agreement because the Sale and Purchase Agreement is the only binding Agreement of purchasing the house between Seller and purchaser.


b. Loan Agreement

When you are buying a house and need a bank loan, you will sign the Loan Agreement.

Loan Agreement is an agreement between the borrower and the lender. As a borrower, you agree to repay the loan to the bank in the specific agreed period.

For the lender, they will disburse the borrowed money to the Seller and their financial institution so that you’re able to buy the house and stay in it.

Most of Loan Agreement terms and conditions are non-negotiable. You are obliged to repaying the bank.

And to be honest, most Loan agreement terms and conditions are trying to protect the lender investment on how they will pursue if you’re not able to repay the loan.

So long you agree to repay the loan within the stipulated period, you are going to be okay. If you don’t, that will be another roller coaster ride.

One thing I learned in the business world is a business person will try every possible way to cut loss or to recover their loss.So pay up your loan!




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