Agreement To Buy And Sell Real Estate Residential Template for Philippines

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: Sets out the context of the transaction, confirming the Seller's ownership and authority to sell, and the Buyer's intention to purchase

3. Definitions: Defines key terms used throughout the agreement to ensure clarity and prevent misinterpretation

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

5. Purchase Price: States the total purchase price and the agreed-upon payment terms and schedule

6. Payment Terms: Details the method and schedule of payments, including any deposits, down payments, and balance payments

7. Conditions Precedent: Lists conditions that must be met before the sale becomes final, such as title clearance and property inspection

8. Representations and Warranties: Statements by both parties regarding their capacity to enter into the agreement and the property's condition

9. Title and Transfer: Outlines the process and timing for transferring the property title from Seller to Buyer

10. Taxes and Expenses: Specifies which party is responsible for various taxes and fees related to the sale

11. Default and Remedies: Describes what constitutes default by either party and the corresponding remedies

12. Governing Law: Specifies that Philippine law governs the agreement and outlines jurisdiction for disputes

13. Notices: Specifies how and where official communications between parties should be delivered

14. Execution: Formal closing section with signature blocks for all parties and witnesses

1. Schedule A - Property Details: Detailed technical description of the property, including lot plans and technical boundaries

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

3. Schedule C - Property Inventory: List of fixtures, fittings, and other items included or excluded from the sale

4. Schedule D - Title Documents: Copies of relevant title documents and certificates

5. Schedule E - Property Inspection Report: Results of property inspection and any identified issues

6. Appendix 1 - Required Permits: Copies of relevant permits, certificates, and clearances

7. Appendix 2 - Tax Clearances: Property tax clearances and relevant tax certificates

8. Appendix 3 - Power of Attorney: If applicable, power of attorney documents authorizing representatives