The Form For Real Estate Purchase Agreement is a vital legal instrument used in Philippine property transactions to formalize the sale and transfer of real estate between parties. This document is essential when any real property is being sold in the Philippines, whether residential, commercial, or industrial. It must comply with various Philippine laws including the Civil Code, Maceda Law, and local property regulations. The agreement includes crucial elements such as property description, purchase price, payment terms, warranties, and closing conditions. It serves as both a binding contract and a reference document for the eventual transfer of title, incorporating necessary provisions to protect both buyer and seller while ensuring the transaction meets all legal requirements under Philippine jurisdiction.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Your data doesn't train Genie's AI
You keep IP ownership of your docs
Alternatively...
1. Parties: Identification and details of the Seller and Buyer, including complete names, civil status, addresses, and tax identification numbers
2. Background: Context of the transaction, including brief property overview and parties' intention to enter into a sale transaction
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Description: Detailed description of the real estate property, including lot number, location, boundaries, and title details
5. Purchase Price: Total purchase price, payment terms, and schedule of payments
6. Payment Terms: Detailed breakdown of payment method, installment terms if applicable, and consequences of default
7. Warranties and Representations: Seller's warranties regarding property ownership, absence of liens, and other material representations
8. Conditions Precedent: Conditions that must be fulfilled before the sale becomes final
9. Closing and Transfer of Title: Process and requirements for closing the sale and transferring property title
10. Taxes and Expenses: Allocation of taxes, registration fees, and other transaction costs
11. Default and Remedies: Consequences of default by either party and available remedies
12. Governing Law: Specification of Philippine law as governing law and relevant jurisdictional matters
13. Execution: Signature blocks and notarization requirements
1. Financing Provisions: Include when buyer is obtaining bank financing, detailing loan conditions and requirements
2. Broker Provisions: Include when real estate brokers are involved, specifying commission arrangements
3. Construction Completion: Include for pre-selling arrangements or properties under construction
4. Tenant Provisions: Include when property is currently leased to tenants
5. Homeowners Association: Include when property is part of a subdivision or condominium with association requirements
6. Foreign Ownership Compliance: Include when buyer is a foreign national, addressing ownership restrictions
7. Special Use Conditions: Include when property has specific zoning or use restrictions
8. Environmental Provisions: Include when environmental issues or requirements need to be addressed
1. Schedule A - Property Details: Technical description of the property, including lot plan, boundaries, and technical specifications
2. Schedule B - Payment Schedule: Detailed breakdown of payment terms, amounts, and due dates
3. Schedule C - Title Documents: Copy of title, tax declarations, and other property documents
4. Schedule D - Permits and Certificates: Copies of relevant permits, certificates, and clearances
5. Schedule E - Property Inspection Report: Details of property condition and any identified issues
6. Schedule F - Transfer Costs: Detailed breakdown of taxes, fees, and other costs related to the transfer
7. Appendix 1 - Property Photos: Recent photographs of the property
8. Appendix 2 - Required Governmental Forms: Standard government forms required for property transfer in the Philippines
Authors
Find the document you need
No items found.
Genie’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your data is private:
We do not train on your data; Genie’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
