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Home Purchase Agreement
"I need a Home Purchase Agreement for buying a single-family residence in Manila, with a 20% down payment and the remaining balance to be paid in monthly installments over 10 years, closing date set for March 15, 2025."
1. Parties: Identification of the Seller and Buyer with complete legal names and addresses
2. Background: Context of the transaction and brief description of the property being sold
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Description: Detailed description of the property including lot number, location, boundaries, and title details
5. Purchase Price: Total purchase price and detailed breakdown of all costs
6. Payment Terms: Payment schedule, method of payment, and consequences of default
7. Conditions Precedent: Conditions that must be met before the sale can proceed
8. Representations and Warranties: Seller's declarations regarding property ownership, absence of liens, and other material facts
9. Closing and Transfer of Title: Process and timeline for completing the sale and transferring property ownership
10. Taxes and Expenses: Allocation of transfer taxes, registration fees, and other transaction costs
11. Default and Remedies: Consequences of breach and available remedies for either party
12. Notices: How formal communications between parties should be made
13. Governing Law: Specification of Philippine law as governing law and jurisdiction
14. Execution: Signature blocks and notarization requirements
1. Broker Involvement: Details of real estate broker involvement and commissions, used when a licensed broker is part of the transaction
2. Mortgage Contingency: Conditions related to buyer's mortgage financing, used when purchase depends on mortgage approval
3. Property Inspection: Terms for property inspection and resulting obligations, used for existing properties
4. Occupancy Terms: Terms for current occupants' vacancy, used when property is occupied
5. Construction Completion: Terms for completion of construction and warranties, used for pre-selling arrangements
6. Overseas Filipino Worker Provisions: Special provisions for OFW buyers, used when buyer is an overseas worker
7. Condominium Association: Terms related to condominium association membership, used for condominium units
8. Agricultural Land Provisions: Special provisions for agricultural land transfer, used when property is agricultural
9. Joint Ownership: Terms for multiple buyers, used when property will have multiple owners
1. Schedule A - Property Details: Technical description of property, including lot plan, boundaries, and technical specifications
2. Schedule B - Payment Schedule: Detailed breakdown of payment terms including dates and amounts
3. Schedule C - Property Documents: List of all property-related documents including title, tax declarations, and permits
4. Schedule D - Delivery Terms: Specific terms and timeline for property delivery and acceptance
5. Schedule E - Permitted Encumbrances: List of accepted liens or encumbrances, if any
6. Appendix 1 - Property Photos: Current photographs of the property
7. Appendix 2 - Property Plans: Architectural plans and drawings, particularly for pre-selling properties
8. Appendix 3 - Required Permits: Copies of all relevant permits and certificates
9. Appendix 4 - Tax Certificates: Current real property tax certificates and clearances
Authors
Property
Purchase Price
Closing Date
Certificate of Title
Transfer Certificate of Title
Deed of Absolute Sale
Down Payment
Earnest Money
Real Estate Mortgage
Transfer Tax
Documentary Stamp Tax
Capital Gains Tax
Property Tax
Zonal Value
Business Day
Force Majeure
Liens
Encumbrances
Technical Description
Tax Declaration
Real Estate Broker
Notice
Default
Cure Period
Title Search
Due Diligence Period
Occupancy Date
Material Defect
Registration Fees
Notarial Fees
Common Areas
Property Assessment
Closing Costs
Environmental Hazards
Building Code
Zoning Regulations
Warranties
Buyer's Agent
Seller's Agent
Acceptance Date
Possession Date
Certificate of Occupancy
Real Property Tax Clearance
Association Dues
Purchase Price
Payment Terms
Title Transfer
Representations and Warranties
Due Diligence
Conditions Precedent
Property Inspection
Closing Conditions
Default and Remedies
Risk and Insurance
Property Taxes
Transfer Taxes
Registration Requirements
Possession and Delivery
Utilities and Maintenance
Broker Provisions
Notices
Force Majeure
Assignment
Severability
Entire Agreement
Amendment
Governing Law
Dispute Resolution
Indemnification
Termination
Survival
Construction Warranties
Environmental Compliance
Zoning Compliance
Title Insurance
Property Access
Further Assurances
Time of Essence
Real Estate
Legal Services
Banking and Finance
Construction and Development
Property Management
Insurance
Public Notary Services
Real Estate Brokerage
Legal
Real Estate
Property Management
Compliance
Sales
Documentation
Risk Management
Finance
Customer Relations
Title and Closing
Real Estate Agent
Property Lawyer
Real Estate Broker
Title Officer
Property Manager
Mortgage Officer
Legal Counsel
Real Estate Developer
Property Assessor
Compliance Officer
Real Estate Transaction Coordinator
Housing Loan Officer
Property Documentation Specialist
Real Estate Legal Assistant
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