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Real Estate Buyer Seller Agreement Form Template for Philippines

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Key Requirements PROMPT example:

Real Estate Buyer Seller Agreement Form

"I need a Real Estate Buyer Seller Agreement Form for a residential property in Manila, with installment payments over 24 months starting March 2025, and specific provisions for property inspection period of 14 days."

Document background
The Real Estate Buyer Seller Agreement Form is a crucial legal document used in the Philippines for facilitating property transactions between sellers and buyers. This agreement serves as the primary contract governing the sale and purchase of real estate properties, whether residential or commercial, and must comply with Philippine property laws, including the Civil Code of the Philippines, Real Estate Service Act, and relevant local government regulations. The document is designed to protect both parties' interests by clearly defining the terms of sale, payment conditions, property specifications, and legal obligations. It includes mandatory provisions required by Philippine law, such as proper party identification, property description, price and payment terms, and necessary warranties. The agreement is particularly important as it forms the basis for the subsequent Deed of Absolute Sale and property registration process in the Philippine Land Registration Authority.
Suggested Sections

1. Parties: Identification of the Seller and Buyer with complete legal names, addresses, and tax identification numbers as required by Philippine law

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

3. Definitions: Definitions of key terms used throughout the agreement, including technical and legal terms specific to Philippine real estate law

4. Property Description: Detailed description of the property including lot number, street address, boundaries, area, and title certificate number

5. Purchase Price: Agreed purchase price, payment terms, and schedule of payments including earnest money requirements

6. Terms of Payment: Detailed payment structure, including installment terms if applicable, and methods of payment acceptable under Philippine banking regulations

7. Representations and Warranties: Seller's warranties regarding property ownership, absence of liens, and compliance with laws; Buyer's warranties regarding financial capacity

8. Conditions Precedent: Prerequisites for closing, including title verification, tax clearances, and necessary government approvals

9. Closing Requirements: Documents and actions required from each party to complete the transaction

10. Transfer of Title: Process and timeline for transferring property title to the buyer

11. Taxes and Expenses: Allocation of transfer taxes, registration fees, and other transaction costs

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

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

14. Execution: Signature blocks with requirements for witnesses and notarization as per Philippine law

Optional Sections

1. Broker Involvement: Details of real estate broker involvement and commission structure, required when a licensed broker is involved in the transaction

2. Mortgage Contingency: Terms related to buyer's obtaining financing, used when purchase is contingent on mortgage approval

3. Property Inspection: Terms for property inspection period and consequences of inspection findings, important for existing properties

4. Tenant Rights: Provisions regarding existing tenants and leases, required when property is currently leased

5. Homeowners Association: Terms related to homeowners association membership and fees, necessary for properties within subdivisions or planned communities

6. Construction Completion: Specific provisions for properties under construction or pre-selling arrangements

7. Foreign Ownership Compliance: Special provisions ensuring compliance with Philippine foreign ownership restrictions, required when buyer is non-Filipino

8. Environmental Compliance: Special provisions regarding environmental compliance, necessary for industrial or commercial properties

9. Zoning Compliance: Provisions regarding zoning and land use requirements, important for properties with development potential

Suggested Schedules

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 title documents and certified true copies of property ownership documents

4. Schedule D - Permits and Certificates: Copies of relevant permits, tax declarations, and certificates affecting the property

5. Schedule E - Property Inspection Report: Detailed property inspection findings and agreed repairs or modifications

6. Schedule F - Deed of Absolute Sale Template: Draft of the Deed of Absolute Sale to be executed upon completion of payments

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

8. Appendix 2 - Tax Certificates: Current real property tax certificates and tax clearances

9. Appendix 3 - HOA Documents: Homeowners association rules, regulations, and fees if applicable

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

Residential Property

Commercial Property

Banking and Finance

Legal Services

Construction

Property Development

Property Management

Urban Planning

Real Estate Investment

Relevant Teams

Legal

Real Estate Operations

Compliance

Property Management

Sales

Documentation

Finance

Risk Management

Investment

Business Development

Relevant Roles

Real Estate Agent

Property Manager

Real Estate Broker

Legal Counsel

Property Developer

Real Estate Attorney

Compliance Officer

Title Officer

Property Appraiser

Real Estate Investment Manager

Real Estate Consultant

Banking Officer

Mortgage Specialist

Real Estate Documentation Specialist

Property Investment 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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