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Contract To Buy And Sell Real Estate Residential
"I need a Contract To Buy And Sell Real Estate Residential for a condominium unit in Makati City, Philippines, with a total purchase price of 5 million pesos to be paid in three installments, with the final payment due March 2025."
1. Parties: Identification of the Seller and Buyer with complete legal names and addresses
2. Background: Context of the transaction and brief description of the property being sold
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Description: Detailed legal description of the property including lot number, block number, certificate of title details, and boundaries
5. Purchase Price: Total purchase price and detailed payment terms including down payment and balance payment schedule
6. Mode of Payment: Specified method(s) of payment and banking details where applicable
7. Conditions Precedent: Conditions that must be fulfilled before the sale becomes binding
8. Representations and Warranties: Declarations by both parties regarding their capacity to enter into the contract and the status of the property
9. Title and Documentation: Requirements and process for transfer of title and related documents
10. Taxes and Expenses: Allocation of transfer taxes, registration fees, and other transaction costs
11. Possession and Risk: Terms regarding the transfer of possession and assumption of risk
12. Default and Remedies: Consequences of default by either party and available remedies
13. Governing Law: Specification of Philippine law as governing law and jurisdiction
14. Notices: Process and addresses for serving notices between parties
15. Execution: Signature blocks and notarization requirements
1. Broker Involvement: Details of real estate broker involvement and commission arrangements, included when a broker is part of the transaction
2. Mortgage Contingency: Conditions related to buyer's obtaining mortgage financing, included when purchase is dependent on financing
3. Property Inspection: Terms for property inspection and resulting actions, included when inspection is requested
4. Occupancy Status: Terms regarding current occupants and vacancy requirements, included when property is occupied
5. Homeowners Association: Terms related to homeowners association membership and fees, included for properties within subdivisions or condominiums
6. Force Majeure: Provisions for unforeseen circumstances preventing performance, included when requested by parties
7. Construction Completion: Terms for completion of ongoing construction, included for properties under construction
8. Furniture and Fixtures: List of items included or excluded from sale, included when relevant to the transaction
1. Schedule A - Property Details: Comprehensive technical description of the property including lot plan, technical description, and boundaries
2. Schedule B - Payment Schedule: Detailed breakdown of payment terms including amounts and due dates
3. Schedule C - Title Documents: List of all title and property documents to be transferred
4. Schedule D - Property Inspection Report: Results of property inspection and list of agreed repairs if applicable
5. Schedule E - Permits and Certificates: Copies of relevant permits, certificates, and clearances
6. Appendix 1 - Property Photos: Recent photographs of the property's interior and exterior
7. Appendix 2 - Tax Declarations: Current tax declarations and receipts
8. Appendix 3 - Power of Attorney: If applicable, power of attorney documents for either party
Authors
Real Estate
Residential Property
Construction
Banking and Finance
Legal Services
Property Development
Property Management
Insurance
Property Investment
Legal
Real Estate
Property Management
Sales
Compliance
Documentation
Finance
Risk Management
Client Relations
Business Development
Real Estate Agent
Property Lawyer
Real Estate Broker
Property Developer
Bank Manager
Mortgage Officer
Real Estate Appraiser
Property Manager
Legal Counsel
Compliance Officer
Title Insurance Officer
Real Estate Investment Manager
Property Sales Manager
Real Estate Documentation Specialist
Conveyancing Officer
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