Document background
An As Is Offer To Purchase (Real Estate) is a crucial document used in Philippine real estate transactions where the buyer agrees to purchase property in its existing condition, without requiring the seller to make repairs or improvements. This document is particularly relevant in situations involving distressed properties, quick sales, or when sellers wish to limit their post-sale liability. It must comply with Philippine property law, including the Civil Code and Property Registration Decree, and typically includes detailed property descriptions, purchase terms, and explicit acknowledgments of the property's condition. The document serves as the initial step in the transaction process, leading to a formal Deed of Absolute Sale upon acceptance and completion of terms.
