Agreement To Purchase (MNJB)

In the event that the Purchaser(s) fails to and/or refuses to execute the SPA within the ‘Said Period’ stipulated in clause 1(a) above, the Earnest Deposit shall be forfeited by the Vendor(s) as agreed liquidated damages PROVIDED that there is no delay on the part of the Vendor(s) or Vendor(s)’s Solicitor in agreeing to the terms and conditions of the SPA, and PROVIDED always that the non-execution of the SPA by the Purchaser(s) is not caused by, or attributable to, the Vendor’s misrepresentation, misconduct and/or fraudulent acts. Thereinafter upon such forfeiture, this Agreement shall be terminated and be null and void and neither party shall have any further claims whatsoever against each other.
In the event that the Vendor(s) fails to and/or refuses to execute the SPA or to complete the sale transaction within the said Period, the Vendor(s) shall refund to the Purchaser(s) free of interest the said Earnest Deposit, together with a compensation sum equivalent to the Earnest Deposit as agreed liquidated damages, and thereinafter this Agreement shall be terminated and be null and void and neither party shall have any further claims whatsoever against each other, failing which the Purchaser(s) shall be entitled to seek specific performance, and/or damages, of this Agreement.

Date of SPA
Date of receipt of the relevent consent from the Statutory Body/ Developer's Consent/ Developer's Confirmation/ FIC/ State Authorities/ Extract of LA/ Extract of Grant/ Extract of the Court Order of Sale.

Upon expiry of the period stipulated in Clause 2 (a)(iii) above, to grant an extension period of 30 days (Thirty days) on the unpaid balance sum at an interest / ta'widh rate of 8% (Eight Percent) per annum calculated on a daily basis/ lump sum)

Vacant possession to be given upon full settlement
Non-vacant possession subject to existing tenancy upon full settlement of the balance Purchase Price

Each party shall bear their own solicitor's cost; however, purchaser bears the Stamp Duty and Transfer Cost.

Earnest Deposit is refundable if loan/financing not approve by any financier (subject to submission of a decline letter and must be within the 'Said Period' stipulated in clause 1 (a) above). Once Earnest Deposit is refunded, this agreement will be cancelled.
This agreement is not valid until the payment is cleared.
This property will be sold based on "as is where is" basis.

Max. file size: 128 MB.

Section Below is to Need fill by Purchaser, Vendor and Witness Only