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The Condo Purchase Agreement is a vital legal document used in Philippine real estate transactions for the purchase and sale of condominium units. It serves as the primary contract between the seller (whether a developer or individual owner) and the buyer, ensuring compliance with local real estate laws including the Condominium Act (RA 4726), Maceda Law (RA 6552), and relevant provisions of the Civil Code of the Philippines. This agreement is essential for documenting the complete terms of the transaction, including property details, payment structure, delivery terms, and specific conditions related to condominium ownership. It's particularly important in the Philippine context due to specific regulations regarding property ownership, foreign ownership restrictions, and condominium management requirements.

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

2. Background: Context of the transaction, including brief description of the property and the parties' intention to enter into a purchase agreement

3. Definitions: Definitions of key terms used throughout the agreement, including technical and legal terms specific to condominium ownership

4. Property Description: Detailed description of the condominium unit, including unit number, floor area, boundaries, and parking (if included)

5. Purchase Price: Statement of the total purchase price, payment terms, and schedule of payments

6. Payment Terms: Detailed breakdown of payment structure, including reservation fee, down payment, and balance payment methods

7. Delivery and Turnover: Timeline and conditions for the delivery and turnover of the unit to the buyer

8. Title Transfer: Process and requirements for transferring the title to the buyer

9. Taxes and Fees: Allocation of responsibility for various taxes, registration fees, and other transaction costs

10. Warranties: Seller's warranties regarding the property's condition, title, and compliance with laws

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

12. Common Areas and Facilities: Rights and obligations regarding common areas and facilities of the condominium

13. Association Membership: Terms regarding mandatory membership in the condominium association

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

15. Execution: Signature blocks and notarization requirements