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Agreement Of Purchase And Sale Form For Private Sale

Agreement Of Purchase And Sale Form For Private Sale Template for Philippines

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Key Requirements PROMPT example:

Agreement Of Purchase And Sale Form For Private Sale

"I need an Agreement of Purchase and Sale Form for Private Sale for a residential property in Manila, Philippines, with a phased payment structure where 30% will be paid upon signing and the remaining 70% to be paid in monthly installments throughout 2025, including provisions for early payment options."

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Document background
The Agreement of Purchase and Sale Form for Private Sale is a crucial legal document used in the Philippines for property transactions between private parties without the involvement of real estate developers or government agencies. This document is essential when individuals or entities wish to transfer property ownership in compliance with Philippine property laws and regulations. It contains detailed provisions covering property description, purchase price, payment terms, warranties, and closing requirements, all structured to meet the requirements of the Philippine Civil Code and related property legislation. The agreement is particularly important as it serves as the foundation for the subsequent property registration process and helps ensure a smooth transfer of ownership while protecting both parties' interests. It's commonly used for both residential and commercial property transactions and must be notarized to be legally binding under Philippine law.
Suggested Sections

1. Parties: Identification and details of the Seller and Buyer, including complete names, civil status, addresses, and tax identification numbers

2. Background: Context of the sale, brief description of the property, and the parties' intention to enter into the sale transaction

3. Definitions: Definitions of key terms used throughout the agreement

4. Subject Matter of Sale: Detailed description of the property being sold, including legal description, boundaries, and title details

5. Purchase Price: The agreed price, payment terms, and schedule of payments

6. Payment Terms: Detailed breakdown of how and when payments will be made, including any deposits or installments

7. Representations and Warranties: Seller's warranties regarding property ownership, absence of liens, and other material facts about the property

8. Conditions Precedent: Conditions that must be met before the sale can be completed

9. Closing and Transfer of Title: Process and requirements for completing the sale and transferring property ownership

10. Taxes and Expenses: Allocation of responsibility for transfer taxes, registration fees, and other transaction costs

11. Default and Remedies: Consequences of breach by either party and available remedies

12. Governing Law: Specification of Philippine law as governing law and jurisdiction

13. Execution: Signature blocks and notarization requirements

Optional Sections

1. Due Diligence: Detailed provisions for buyer's inspection and investigation rights, used when the property requires significant verification

2. Financing Contingency: Terms related to buyer's obtaining financing, included when purchase depends on securing a loan

3. Tenant Rights: Provisions regarding existing tenants, used when the property is currently leased

4. Property Maintenance: Obligations regarding property maintenance between signing and closing, important for longer closing periods

5. Broker Provisions: Terms regarding real estate broker involvement, included when brokers are part of the transaction

6. Environmental Matters: Environmental warranties and indemnities, important for commercial properties or properties with potential environmental issues

7. Subdivision Requirements: Special provisions for properties requiring subdivision approval

8. Force Majeure: Provisions for unforeseen circumstances affecting completion of the sale

Suggested Schedules

1. Schedule A - Property Description: Detailed technical description of the property, including lot number, boundaries, and technical specifications

2. Schedule B - Payment Schedule: Detailed breakdown of payment terms and dates

3. Schedule C - Title Documents: List of all relevant title documents and certificates

4. Schedule D - Permitted Encumbrances: List of accepted liens or encumbrances on the property

5. Schedule E - Delivery Items: List of documents and items to be delivered at closing

6. Appendix 1 - Property Photos: Recent photographs of the property

7. Appendix 2 - Property Plans: Floor plans, lot plans, or architectural drawings if applicable

8. Appendix 3 - Tax Certificates: Current real property tax certificates and clearances

Authors

Alex Denne

Head of Growth (Open Source Law) @ 黑料视频 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions














































Clauses



































Relevant Industries

Real Estate

Residential Property

Commercial Property

Industrial Property

Agriculture

Retail

Hospitality

Manufacturing

Logistics

Education

Healthcare

Relevant Teams

Legal

Real Estate

Compliance

Finance

Corporate Affairs

Business Development

Property Management

Asset Management

Documentation

Risk Management

Relevant Roles

Real Estate Agent

Property Manager

Legal Counsel

Corporate Lawyer

Compliance Officer

Real Estate Broker

Property Developer

Business Owner

Chief Executive Officer

Chief Financial Officer

Legal Administrator

Conveyancing Manager

Real Estate Transaction Coordinator

Property Acquisition Manager

Asset Manager

Real Estate Investment Manager

Title Examiner

Property Documentation Specialist

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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