| CONTRACT TO SELLbuy Philippine real estate living in Philippine houses for sale. ... Philippine Island Real Estate Map of The Philippines Properties Philippine Condos Philippine townhouses manila properties manila real estate manila condos manila condominiums ... makati condos makati real estate makati properties island properties beach properties..Philippine Subdivisions |
. CONTRACT TO SELL
This Contract to Sell, made and executed on this ____day of ______, ______, at __________, by and between:
_________________________ of legal age, Filipino and a resident of _________________, (hereinafter referred to as the “SELLER”).
- and -
_____________________________, of legal age, Filipino, married to ______________ and a resident of _________________,
(hereinafter referred to as the “BUYER”),
WITNESSETH: THAT -
WHEREAS, the SELLER is the registered owner of a house and lot located at _______________ , and covered by Transfer Certificate of
Title No. _________ of the Registry of Deeds for __________ (the “Subject Property”), attached hereto and made an integral part hereof
as Schedule 1;
WHEREAS, the BUYER has inspected the Subject Property, its location, boundary and condition to its satisfaction and has offered to buy
the Subject Property.
WHEREAS, the SELLER is willing to sell the Subject Property to the BUYER.
NOW, THEREFORE, for and in consideration of the foregoing premises, the SELLER hereby agrees to sell and the BUYER agrees to
purchase, the Subject Property described in Section 1 hereof, subject to the terms and conditions stipulated herein.
1. SUBJECT PROPERTY
The property which is the subject of this Contract To Sell refers to a house and lot located at _______________, with a total lot area of
_________ square meters, more or less, which is covered by Transfer Certificate of Title No. ___________, issued by the Registry of
Deeds for ________ in the name of the SELLER, (the “Subject Property”).
2. PURCHASE PRICE
2.1 The purchase price of the Subject Property is Pesos: One Million Five Hundred Thousand (P1,500,000.00), Philippine Currency
(hereinafter referred to as the “Purchase Price”), payable by the BUYER to the SELLER, as follows:
a) a down payment in the amount of Pesos: Seven Hundred Fifty Thousand (P750,000.00), shall be paid simultaneous with the
signing of this Contract;
b) the balance of Pesos: Seven Hundred Fifty Thousand (P750,000.00) shall be paid 60 days from the date hereof (or the exact date e.
g. March 15, 2005) hereof and upon full compliance by the SELLER with the conditions stipulated in Section 4 hereof;
3. POSSESSION OF PROPERTY
Notwithstanding payment of the portion of the Purchase Price referred to in Section 2 (a), the SELLER shall remain in possession of the
Subject Property subject to the terms and conditions of this Contract. The SELLER’s rights of possession and use shall continue until the
conditions stipulated in Section 2.1 (b) and Section 4 have been fulfilled, thereupon the SELLER shall turnover possession, use and
enjoyment of the Subject Property to the BUYER.
4. TRANSFER OF TITLE/OWNERSHIP
4.1 Title to and ownership and possession of the Subject Property shall remain with the SELLER and shall pass and be transferred to
the BUYER only upon receipt by the SELLER of full payment of the Purchase Price and delivery of the transfer certificate of title covering the
Subject Property.
4.2 Upon full payment of the Purchase Price, the SELLER shall deliver to the BUYER, the following:
(i) the Deed of Absolute Sale covering the Subject Property duly signed by the SELLER and BUYER and notarized;
(ii) Original Copy of Owner’s Duplicate Copy of the Transfer Certificate of Title covering the Subject Property, in the name of the
SELLER, free and clear of any lien, charge or encumbrance;
(iii) The Tax Declaration covering the land and the improvement of Subject Property in SELLER’s name, indicating that the Subject
Property is classified for residential use;
(iv) Realty Tax Clearance issued by the local treasurer showing full payment of realty tax, special education fund tax and other
assessments and charges on the Subject Property;
(v) Original Copies of Official Receipts and proof of payment of the real property tax, special education fund tax and assessments on
the Subject Property for the past and current years.
(vi) Tax Identification Number (TIN) of the SELLER necessary to secure Certificate Authorizing Registration with the Bureau of Internal
Revenue.
5. REPRESENTATIONS AND WARRANTIES
5.1 The SELLER represents and warrants to the BUYER as follows:
(a) He is the beneficial owner of the Subject Property with valid right and authority to sell, dispose, convey and transfer the same.
(b) This Contract and all related documents and deeds required on his part to be executed under the terms hereof shall, upon his
execution and signing, be valid, binding, and enforceable against him in accordance with their respective terms.
(c) He has good and valid title to the Subject Property, free and clear of any liens, charges and encumbrances of whatsoever nature.
(d) The Subject Property is free of any tenants or squatters or occupants and shall remain to be so upon its delivery to the BUYER.
(e) All real property tax and assessments due on the Subject Property for the past and current years have been paid.
5.2 The BUYER represents and warrants to the SELLER as follows:
(a) She has the full legal capacity to buy and purchase the Subject Property from the SELLER.
(b) She is duly authorized to enter into and execute this Contract and all related documents and deeds required to be executed under
the terms hereof.
(c) This Contract and all related documents and deeds required on her part to be executed under the terms hereof shall, upon her
execution and signing, be valid, binding, and enforceable against her in accordance with their respective terms.
(d) She will pay the Purchase Price in accordance with the terms hereof, faithfully comply with all her obligations and undertakings
hereunder, execute all documents and deeds and perform all acts required of her in order that title to and possession of the Subject
Property can be effectively transferred to her in accordance with the terms of this Contract and the Deed of Absolute sale.
6. TAXES, FEES, AND ASSESSMENTS
6.1 The SELLER shall be responsible for the payment of:
(a) capital gains tax arising from the sale of the Subject Property; and
(b) real property tax and special education fund tax and other assessments, including penalties, if any, levied or which may be levied
on the Subject Property pertaining to the period ending in (current year).
6.2 The BUYER shall be responsible for:
(a) the payment of real property tax and special assessments, including penalties, if any, levied or which may be levied on the Subject
Property pertaining to the period commencing on (period after the conclusion of the sale agreement or signing of the Deed of Absolute
Sale);
(b) the payment of transfer fee, registration fee and any and all fees and expenses, including documentary tax, related to the execution and
registration of this Contract and the Deed of Absolute Sale;
6.3 The BUYER and the SELLER shall equally share in the costs of preparing this Contract, the Deed of Absolute Sale, and other
documents required to transfer the title in the name of the BUYER including the notarization of said documents.
7. DEFAULT
7.1 In the event the BUYER violates any of her obligations and undertakings under this Contract or fails to pay the balance of the
Purchase Price on the due date, notwithstanding that the SELLER is not in breach of his obligations under this Contract, the SELLER shall
be entitled to exercise and avail of any of the following remedies:
(a) demand for specific performance, with damages; or
(b) rescind this Contract, without need of judicial action, by giving the BUYER a written notice of rescission, in which case, this Contract
shall be deemed effectively rescinded ____ days from the date of service of the notice to the BUYER.
7.2 Upon the rescission of this Contract at the instance of the SELLER as aforementioned the amount of Pesos: Ten Thousand (P10,
000.00) shall be forfeited in favor of the SELLER as liquidated damages for failure of the BUYER to fulfill her obligations and undertakings
under this Contract and the balance shall be returned by the SELLER within ____ days from effective date of rescission of this Contract.
7.3 In the event that the SELLER fails to deliver to the BUYER the documents referred to in Section 4.2, notwithstanding that the
BUYER has fully paid the Purchase Price and is not in breach of her obligations under this Contract, the BUYER shall be entitled to the
remedies provided in Section 7.1 (a) and (b) hereof.
7.4 Upon rescission of this Contract at the instance of the BUYER as aforementioned the SELLER shall reimburse to the BUYER all
amounts which the BUYER has paid on the Purchase Price within ____ days from the date of rescission as contained in the notice and
shall be liable to the BUYER for liquidated damages in the amount of Pesos: Ten Thousand (P10,000.00) payable together with the
reimbursement.
8. PROHIBITION ON ASSIGNMENT
The SELLER undertakes that he will not sell, assign, transfer or encumber his rights, interest and obligations under this Contract. Any
agreement executed by the SELLER in violation hereof shall be void ab initio and shall not be enforceable against the BUYER, and the
SELLER shall be liable to the BUYER for any losses or damages suffered by the SELLER arising from the breach of this provision.
9. COURT ACTION/VENUE
In the event that either party is constrained to resort to any court action to enforce or protect his/her rights under this Contract and to seek
redress against the defaulting party, the latter shall be liable for all costs and expenses of suit including attorney’s fees incurred in
connection therewith by the non-defaulting party. Venue of action shall be in the proper court in ____________.
10. AMENDMENTS/WAIVER
No modification or waiver of any provision hereof shall be binding on the parties hereto unless evidenced by a written agreement duly
signed by the respective authorized signatories of both parties. Any delay or failure of either party to demand compliance with any of the
terms and conditions hereof, or any act of tolerance or indulgence on the part of either party shall not be construed as a waiver on his or
her part to require or enforce performance of this Contract nor relieve the other party of any of his/her obligations herein.
11. NOTICES
Any notice to be given under this Contract must be in writing and delivered by personal delivery or registered mail at the address of the
parties first abovementioned. Any notice delivered personally shall be deemed to have been received at the time of delivery and, if sent by
registered mail, shall be deemed to have been received by the addressee ten (10) days after it was posted.
12. SEVERABILITY CLAUSE
Invalidation of any provision of this Contract by a court order or judgment shall in no way offset any of the other provisions hereof which
shall remain in full force and effect.
IN WITNESS WHEREOF, we have signed this Contract To Sell on the date and at the place first abovementioned.
___________________ _____________________
(SELLER) (BUYER)
With My Marital Consent:
_____________________
Name of Husband
SIGNED IN THE PRESENCE OF:
____________________________ __________________________
A C K N O W L E D G M E N T
REPUBLIC OF THE PHILIPPINES)
City of ______________________ ) S.S.
BEFORE ME, a Notary Public in and for the City of Manila, Philippines, on this ____day of ______________, 200_, personally appeared
the following persons who exhibited to me their respective residence certificates:
Name Res. Cert. No. Date/Place Issued
__________________
and
__________________
known to me and to me known to be the same persons who executed the foregoing instrument and acknowledged to me that the same is
their free and voluntary act and deed and of the corporation which each represents.
WITNESS MY HAND AND NOTARIAL SEAL in the place and on the date first above written.
Doc. No.______;
Page No.______;
Book No.______; NOTARY PUBLIC
Series of 200__.
This Contract to Sell, made and executed on this ____day of ______, ______, at __________, by and between:
_________________________ of legal age, Filipino and a resident of _________________, (hereinafter referred to as the “SELLER”).
- and -
_____________________________, of legal age, Filipino, married to ______________ and a resident of _________________,
(hereinafter referred to as the “BUYER”),
WITNESSETH: THAT -
WHEREAS, the SELLER is the registered owner of a house and lot located at _______________ , and covered by Transfer Certificate of
Title No. _________ of the Registry of Deeds for __________ (the “Subject Property”), attached hereto and made an integral part hereof
as Schedule 1;
WHEREAS, the BUYER has inspected the Subject Property, its location, boundary and condition to its satisfaction and has offered to buy
the Subject Property.
WHEREAS, the SELLER is willing to sell the Subject Property to the BUYER.
NOW, THEREFORE, for and in consideration of the foregoing premises, the SELLER hereby agrees to sell and the BUYER agrees to
purchase, the Subject Property described in Section 1 hereof, subject to the terms and conditions stipulated herein.
1. SUBJECT PROPERTY
The property which is the subject of this Contract To Sell refers to a house and lot located at _______________, with a total lot area of
_________ square meters, more or less, which is covered by Transfer Certificate of Title No. ___________, issued by the Registry of
Deeds for ________ in the name of the SELLER, (the “Subject Property”).
2. PURCHASE PRICE
2.1 The purchase price of the Subject Property is Pesos: One Million Five Hundred Thousand (P1,500,000.00), Philippine Currency
(hereinafter referred to as the “Purchase Price”), payable by the BUYER to the SELLER, as follows:
a) a down payment in the amount of Pesos: Seven Hundred Fifty Thousand (P750,000.00), shall be paid simultaneous with the
signing of this Contract;
b) the balance of Pesos: Seven Hundred Fifty Thousand (P750,000.00) shall be paid 60 days from the date hereof (or the exact date e.
g. March 15, 2005) hereof and upon full compliance by the SELLER with the conditions stipulated in Section 4 hereof;
3. POSSESSION OF PROPERTY
Notwithstanding payment of the portion of the Purchase Price referred to in Section 2 (a), the SELLER shall remain in possession of the
Subject Property subject to the terms and conditions of this Contract. The SELLER’s rights of possession and use shall continue until the
conditions stipulated in Section 2.1 (b) and Section 4 have been fulfilled, thereupon the SELLER shall turnover possession, use and
enjoyment of the Subject Property to the BUYER.
4. TRANSFER OF TITLE/OWNERSHIP
4.1 Title to and ownership and possession of the Subject Property shall remain with the SELLER and shall pass and be transferred to
the BUYER only upon receipt by the SELLER of full payment of the Purchase Price and delivery of the transfer certificate of title covering the
Subject Property.
4.2 Upon full payment of the Purchase Price, the SELLER shall deliver to the BUYER, the following:
(i) the Deed of Absolute Sale covering the Subject Property duly signed by the SELLER and BUYER and notarized;
(ii) Original Copy of Owner’s Duplicate Copy of the Transfer Certificate of Title covering the Subject Property, in the name of the
SELLER, free and clear of any lien, charge or encumbrance;
(iii) The Tax Declaration covering the land and the improvement of Subject Property in SELLER’s name, indicating that the Subject
Property is classified for residential use;
(iv) Realty Tax Clearance issued by the local treasurer showing full payment of realty tax, special education fund tax and other
assessments and charges on the Subject Property;
(v) Original Copies of Official Receipts and proof of payment of the real property tax, special education fund tax and assessments on
the Subject Property for the past and current years.
(vi) Tax Identification Number (TIN) of the SELLER necessary to secure Certificate Authorizing Registration with the Bureau of Internal
Revenue.
5. REPRESENTATIONS AND WARRANTIES
5.1 The SELLER represents and warrants to the BUYER as follows:
(a) He is the beneficial owner of the Subject Property with valid right and authority to sell, dispose, convey and transfer the same.
(b) This Contract and all related documents and deeds required on his part to be executed under the terms hereof shall, upon his
execution and signing, be valid, binding, and enforceable against him in accordance with their respective terms.
(c) He has good and valid title to the Subject Property, free and clear of any liens, charges and encumbrances of whatsoever nature.
(d) The Subject Property is free of any tenants or squatters or occupants and shall remain to be so upon its delivery to the BUYER.
(e) All real property tax and assessments due on the Subject Property for the past and current years have been paid.
5.2 The BUYER represents and warrants to the SELLER as follows:
(a) She has the full legal capacity to buy and purchase the Subject Property from the SELLER.
(b) She is duly authorized to enter into and execute this Contract and all related documents and deeds required to be executed under
the terms hereof.
(c) This Contract and all related documents and deeds required on her part to be executed under the terms hereof shall, upon her
execution and signing, be valid, binding, and enforceable against her in accordance with their respective terms.
(d) She will pay the Purchase Price in accordance with the terms hereof, faithfully comply with all her obligations and undertakings
hereunder, execute all documents and deeds and perform all acts required of her in order that title to and possession of the Subject
Property can be effectively transferred to her in accordance with the terms of this Contract and the Deed of Absolute sale.
6. TAXES, FEES, AND ASSESSMENTS
6.1 The SELLER shall be responsible for the payment of:
(a) capital gains tax arising from the sale of the Subject Property; and
(b) real property tax and special education fund tax and other assessments, including penalties, if any, levied or which may be levied
on the Subject Property pertaining to the period ending in (current year).
6.2 The BUYER shall be responsible for:
(a) the payment of real property tax and special assessments, including penalties, if any, levied or which may be levied on the Subject
Property pertaining to the period commencing on (period after the conclusion of the sale agreement or signing of the Deed of Absolute
Sale);
(b) the payment of transfer fee, registration fee and any and all fees and expenses, including documentary tax, related to the execution and
registration of this Contract and the Deed of Absolute Sale;
6.3 The BUYER and the SELLER shall equally share in the costs of preparing this Contract, the Deed of Absolute Sale, and other
documents required to transfer the title in the name of the BUYER including the notarization of said documents.
7. DEFAULT
7.1 In the event the BUYER violates any of her obligations and undertakings under this Contract or fails to pay the balance of the
Purchase Price on the due date, notwithstanding that the SELLER is not in breach of his obligations under this Contract, the SELLER shall
be entitled to exercise and avail of any of the following remedies:
(a) demand for specific performance, with damages; or
(b) rescind this Contract, without need of judicial action, by giving the BUYER a written notice of rescission, in which case, this Contract
shall be deemed effectively rescinded ____ days from the date of service of the notice to the BUYER.
7.2 Upon the rescission of this Contract at the instance of the SELLER as aforementioned the amount of Pesos: Ten Thousand (P10,
000.00) shall be forfeited in favor of the SELLER as liquidated damages for failure of the BUYER to fulfill her obligations and undertakings
under this Contract and the balance shall be returned by the SELLER within ____ days from effective date of rescission of this Contract.
7.3 In the event that the SELLER fails to deliver to the BUYER the documents referred to in Section 4.2, notwithstanding that the
BUYER has fully paid the Purchase Price and is not in breach of her obligations under this Contract, the BUYER shall be entitled to the
remedies provided in Section 7.1 (a) and (b) hereof.
7.4 Upon rescission of this Contract at the instance of the BUYER as aforementioned the SELLER shall reimburse to the BUYER all
amounts which the BUYER has paid on the Purchase Price within ____ days from the date of rescission as contained in the notice and
shall be liable to the BUYER for liquidated damages in the amount of Pesos: Ten Thousand (P10,000.00) payable together with the
reimbursement.
8. PROHIBITION ON ASSIGNMENT
The SELLER undertakes that he will not sell, assign, transfer or encumber his rights, interest and obligations under this Contract. Any
agreement executed by the SELLER in violation hereof shall be void ab initio and shall not be enforceable against the BUYER, and the
SELLER shall be liable to the BUYER for any losses or damages suffered by the SELLER arising from the breach of this provision.
9. COURT ACTION/VENUE
In the event that either party is constrained to resort to any court action to enforce or protect his/her rights under this Contract and to seek
redress against the defaulting party, the latter shall be liable for all costs and expenses of suit including attorney’s fees incurred in
connection therewith by the non-defaulting party. Venue of action shall be in the proper court in ____________.
10. AMENDMENTS/WAIVER
No modification or waiver of any provision hereof shall be binding on the parties hereto unless evidenced by a written agreement duly
signed by the respective authorized signatories of both parties. Any delay or failure of either party to demand compliance with any of the
terms and conditions hereof, or any act of tolerance or indulgence on the part of either party shall not be construed as a waiver on his or
her part to require or enforce performance of this Contract nor relieve the other party of any of his/her obligations herein.
11. NOTICES
Any notice to be given under this Contract must be in writing and delivered by personal delivery or registered mail at the address of the
parties first abovementioned. Any notice delivered personally shall be deemed to have been received at the time of delivery and, if sent by
registered mail, shall be deemed to have been received by the addressee ten (10) days after it was posted.
12. SEVERABILITY CLAUSE
Invalidation of any provision of this Contract by a court order or judgment shall in no way offset any of the other provisions hereof which
shall remain in full force and effect.
IN WITNESS WHEREOF, we have signed this Contract To Sell on the date and at the place first abovementioned.
___________________ _____________________
(SELLER) (BUYER)
With My Marital Consent:
_____________________
Name of Husband
SIGNED IN THE PRESENCE OF:
____________________________ __________________________
A C K N O W L E D G M E N T
REPUBLIC OF THE PHILIPPINES)
City of ______________________ ) S.S.
BEFORE ME, a Notary Public in and for the City of Manila, Philippines, on this ____day of ______________, 200_, personally appeared
the following persons who exhibited to me their respective residence certificates:
Name Res. Cert. No. Date/Place Issued
__________________
and
__________________
known to me and to me known to be the same persons who executed the foregoing instrument and acknowledged to me that the same is
their free and voluntary act and deed and of the corporation which each represents.
WITNESS MY HAND AND NOTARIAL SEAL in the place and on the date first above written.
Doc. No.______;
Page No.______;
Book No.______; NOTARY PUBLIC
Series of 200__.
e-Source Philippines
Philippine Property Listings
Philippine Property Listings
| http://www.e-sourceph.com |
| CONTRACT TO SELL |
 | |  | |  | |  | |  | |  |