Home Sales Agreement Template for Philippines

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Key Requirements PROMPT example:

Home Sales Agreement

"I need a standard Home Sales Agreement for selling my fully-paid condominium unit in Manila, with a lump-sum payment arrangement and transfer of title to be completed by March 2025."

Document background
The Home Sales Agreement is a fundamental legal instrument used in Philippine real estate transactions for the transfer of residential property ownership. This document is essential when any individual or entity wishes to sell or purchase a residential property in the Philippines, whether it's a house, lot, or condominium unit. The agreement must comply with various Philippine laws including the Civil Code, Maceda Law (RA 6552), and Presidential Decree No. 957, which collectively govern real estate transactions and protect buyers' rights. The document typically includes comprehensive details about the property, payment terms, warranties, and conditions for title transfer, while also addressing tax obligations and registration requirements. It serves as the primary reference point for all aspects of the property sale and is required for property registration with the Register of Deeds.
Suggested Sections

1. Parties: Identification and details of the Seller and Buyer, including complete legal names, civil status, and addresses as required by Philippine law

2. Background: Context of the sale and brief description of the transaction

3. Definitions: Definitions of key terms used throughout the agreement

4. Property Description: Detailed description of the property including lot number, block number, technical description, and certificate of 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 in accordance with Maceda Law

7. Conditions Precedent: Conditions that must be met before the sale becomes final, including documentary requirements

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

9. Transfer of Title: Process and timeline for transferring property ownership

10. Taxes and Expenses: Allocation of taxes, registration fees, and other transaction costs

11. Default and Remedies: Consequences of breach and available remedies to either party

12. Governing Law: Specification of Philippine law as governing law and relevant jurisdictions

13. Notices: Process for sending formal communications between parties

14. Execution: Signature blocks and notarization requirements

Optional Sections

1. Broker Involvement: Details of real estate broker involvement and commissions, required if a licensed broker is involved in the transaction

2. Mortgage Provisions: Terms related to mortgage financing, required if buyer is obtaining bank financing

3. Construction Completion: Details about completion timelines and specifications, required for properties under construction

4. Association Dues: Terms regarding homeowners association fees and regulations, required for properties within subdivisions or condominiums

5. Occupancy Terms: Terms regarding current occupancy and transfer of possession, required if property is currently occupied

6. Furniture and Fixtures: List of items included or excluded from the sale, required if selling furnished property

Suggested Schedules

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, including due dates and amounts

3. Schedule C - Property Documents: List of all property-related documents including tax declarations, certificates, and permits

4. Schedule D - Defects List: Documented existing defects or conditions of the property

5. Schedule E - House Rules: Copy of subdivision or condominium rules and regulations if applicable

6. Appendix 1 - Property Photos: Recent photographs of the property and its current condition

7. Appendix 2 - Required Permits: Copies of relevant permits and certificates required for the sale

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions
Clauses
Relevant Industries

Real Estate

Legal Services

Construction

Banking & Finance

Property Development

Insurance

Property Management

Residential Development

Urban Planning

Relevant Teams

Legal

Real Estate

Sales

Compliance

Property Management

Documentation

Risk Management

Finance

Customer Relations

Business Development

Relevant Roles

Real Estate Attorney

Property Lawyer

Real Estate Broker

Property Developer

Legal Counsel

Conveyancing Lawyer

Real Estate Manager

Property Sales Manager

Compliance Officer

Title Officer

Real Estate Agent

Property Assessor

Legal Documentation Specialist

Real Estate Paralegal

Transaction Coordinator

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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