Condo Purchase Agreement Template for Philippines

1. Parties: Identification of the Seller and Buyer, including complete legal names, addresses, and tax identification numbers

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

3. Definitions: Definitions of key terms used throughout the agreement, including technical and legal terms specific to condominium ownership

4. Property Description: Detailed description of the condominium unit, including unit number, floor area, boundaries, and parking (if included)

5. Purchase Price: Statement of the total purchase price, payment terms, and schedule of payments

6. Payment Terms: Detailed breakdown of payment structure, including reservation fee, down payment, and balance payment methods

7. Delivery and Turnover: Timeline and conditions for the delivery and turnover of the unit to the buyer

8. Title Transfer: Process and requirements for transferring the title to the buyer

9. Taxes and Fees: Allocation of responsibility for various taxes, registration fees, and other transaction costs

10. Warranties: Seller's warranties regarding the property's condition, title, and compliance with laws

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

12. Common Areas and Facilities: Rights and obligations regarding common areas and facilities of the condominium

13. Association Membership: Terms regarding mandatory membership in the condominium association

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

15. Execution: Signature blocks and notarization requirements

1. Schedule A - Unit Details: Detailed technical specifications of the unit, including floor plan and area calculation

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

3. Schedule C - Unit Fixtures and Finishes: Inventory of included fixtures, finishes, and amenities

4. Schedule D - Common Area Facilities: List and description of common areas and facilities included in the condominium complex

5. Schedule E - Condominium Rules and Regulations: Copy of the condominium's rules and regulations

6. Schedule F - Property Tax Certificates: Current tax declarations and certificates

7. Appendix 1 - Required Documents: List of documents required from both parties for closing

8. Appendix 2 - Form of Deed of Absolute Sale: Template of the deed of absolute sale to be executed upon full payment