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Purchase Agreement For House For Sale By Owner Template for Philippines

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Key Requirements PROMPT example:

Purchase Agreement For House For Sale By Owner

"I need a Purchase Agreement For House For Sale By Owner for my property in Manila, Philippines, for a straightforward cash sale closing on March 15, 2025, with the buyer requiring a 30-day due diligence period and property inspection clause."

Document background
The Purchase Agreement For House For Sale By Owner is a crucial legal document used in the Philippines when property owners wish to sell their residential property directly to buyers without engaging a real estate agent. This type of agreement is particularly relevant in the Philippine real estate market where direct sales between parties are common, especially in local communities and smaller cities. The document must comply with various Philippine laws, including the Civil Code of the Philippines, Property Registration Decree (PD 1529), and local government regulations. It typically includes comprehensive details about the property, parties involved, purchase price, payment terms, warranties, and closing conditions. This agreement is designed to protect both parties' interests while ensuring the transaction meets all legal requirements for property transfer in the Philippines, including proper documentation for tax authorities and the Register of Deeds.
Suggested Sections

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

2. Background: Establishes that the Seller owns the property and wishes to sell, and the Buyer wishes to purchase under the terms set forth

3. Definitions: Defines key terms used throughout the agreement for clarity and legal certainty

4. Property Description: Detailed description of the property including lot number, block number, subdivision details, certificate of title number, and exact location

5. Purchase Price: States the total purchase price and currency

6. Payment Terms: Specifies the payment schedule, method of payment, and any earnest money requirements

7. Title and Documentation: Confirms the Seller's obligation to transfer clear title and provide necessary documentation

8. Closing and Transfer of Title: Details the closing process, timeline, and requirements for title transfer

9. Taxes and Expenses: Allocates responsibility for transfer taxes, registration fees, and other transaction costs

10. Representations and Warranties: States the Seller's declarations regarding property condition, ownership, and encumbrances

11. Default and Remedies: Specifies what constitutes default and the available remedies for both parties

12. Notices: Establishes how and where official communications between parties should be sent

13. Governing Law: Confirms that Philippine law governs the agreement

14. Entire Agreement: States that the document represents the complete agreement between parties

Optional Sections

1. Mortgage Contingency: Include when Buyer's purchase is contingent on obtaining mortgage financing

2. Property Inspection: Include when the sale is contingent on satisfactory property inspection

3. Existing Tenancies: Include if the property has current tenants and specifies handling of lease agreements

4. Furniture and Fixtures: Include when specific items of furniture or fixtures are included in the sale

5. Swimming Pool/Special Amenities: Include when the property has special features requiring specific warranties or maintenance agreements

6. Construction Completion: Include for properties under construction or requiring specific renovations before closing

7. Homeowners Association: Include when property is part of a subdivision or condominium with an association

8. Broker Provisions: Include if real estate brokers are involved in the transaction

Suggested Schedules

1. Schedule A - Property Details: Comprehensive technical description of the property, including lot plan, boundaries, and technical specifications

2. Schedule B - Payment Schedule: Detailed breakdown of payment terms, including amounts and due dates

3. Schedule C - Included Items: Itemized list of furniture, fixtures, and equipment included in the sale

4. Schedule D - Title Documents: List of all title and property documents to be transferred

5. Schedule E - Property Inspection Report: Results of property inspection and list of any agreed repairs

6. Schedule F - Tax Certificates: Current real property tax certificates and clearances

7. Appendix 1 - Property Photos: Recent photographs of the property and its major features

8. Appendix 2 - Required Permits: Copies of building permits, occupancy permits, and other relevant certificates

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

Relevant legal definitions













































Clauses






























Relevant Industries

Real Estate

Legal Services

Financial Services

Banking

Insurance

Public Administration

Construction

Property Development

Property Management

Tax Services

Relevant Teams

Legal

Real Estate

Property Management

Finance

Tax

Compliance

Risk Management

Administrative Services

Business Development

Customer Relations

Relevant Roles

Property Owner

Home Buyer

Real Estate Lawyer

Property Manager

Legal Counsel

Notary Public

Bank Manager

Mortgage Officer

Tax Consultant

Property Assessor

Title Insurance Officer

Compliance Officer

Legal Administrator

Real Estate Consultant

Financial Advisor

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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