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Land Contract For Sale By Owner
"I need a Land Contract For Sale By Owner for a 500-square-meter residential property in Manila, Philippines, with a purchase price of 5 million pesos to be paid in three installments, with the final payment due March 15, 2025."
1. Parties: Identification of the Seller and Buyer with complete legal names, civil status, citizenship, and addresses as required under Philippine law
2. Background: Context of the sale and brief description of the property being sold
3. Definitions: Definitions of key terms used throughout the contract
4. Property Description: Detailed technical description of the land including lot number, survey number, location, boundaries, and area as per tax declaration and title
5. Purchase Price: Total consideration and payment terms including method and schedule of payments
6. Mode of Payment: Specific details of how payments will be made, including bank details if applicable
7. Title and Ownership: Details of current title, warranties of ownership, and process of transfer
8. Taxes and Expenses: Allocation of transfer taxes, registration fees, and other transaction costs
9. Representations and Warranties: Seller's warranties regarding property ownership, absence of liens, and legal capacity to sell
10. Possession and Risk: Terms for transfer of possession and assumption of risk
11. Default and Remedies: Consequences of default by either party and available remedies
12. Governing Law: Specification of Philippine law as governing law and jurisdiction
13. Execution: Signature blocks with requirements for notarization under Philippine law
1. Financing Contingency: To be included if buyer's purchase is contingent on obtaining financing
2. Title Insurance: Optional provision for title insurance if desired by the parties
3. Property Inspection: Terms for property inspection if not yet conducted
4. Existing Tenancies: Required if the property has current tenants, addressing their rights and transition
5. Broker Involvement: Required if any real estate professionals are involved despite being FSBO
6. CARP Compliance: Required if the land is agricultural, addressing compliance with Comprehensive Agrarian Reform Program
7. Foreign Ownership Compliance: Required if buyer is foreign, addressing ownership restrictions
8. Zoning Compliance: Optional section addressing current zoning and permitted uses
9. Environmental Matters: Optional section addressing environmental conditions or requirements
1. Schedule A - Property Documents: Copy of title, tax declarations, and technical description of the property
2. Schedule B - Payment Schedule: Detailed schedule of installment payments if applicable
3. Schedule C - Property Inventory: List of any included fixtures or improvements
4. Schedule D - Permits and Licenses: Copies of relevant permits, certificates, and licenses
5. Schedule E - Tax Certificates: Current real property tax certificates and clearances
6. Schedule F - Property Pictures: Recent photographs of the property and its boundaries
7. Appendix 1 - Required Government Forms: Standard government forms required for property transfer
8. Appendix 2 - Due Diligence Checklist: Checklist of required documents and procedures for closing
Authors
Property
Land
Purchase Price
Closing Date
Closing
Deed of Absolute Sale
Down Payment
Earnest Money
Encumbrances
Force Majeure
Improvements
Legal Tender
Notice
Parties
Seller
Buyer
Property Documents
Register of Deeds
Tax Declaration
Technical Description
Title
Transfer Certificate of Title
Transfer Date
Transfer Taxes
Zoning Classification
Business Day
Certificate of Title
Liens
Material Adverse Change
Permitted Use
Real Property Tax
Documentary Stamps
Capital Gains Tax
Local Government Unit
Barangay
Municipality
Notary Public
Witness
Purchase Price
Payment Terms
Property Description
Title Transfer
Warranties and Representations
Due Diligence
Conditions Precedent
Closing Requirements
Tax Obligations
Risk and Insurance
Default and Remedies
Force Majeure
Notarization Requirements
Property Inspection
Environmental Compliance
Zoning Compliance
Registration Requirements
Transfer Process
Possession
Encumbrances
Legal Compliance
Property Documents
Local Government Requirements
Dispute Resolution
Governing Law
Notices
Severability
Assignment
Entire Agreement
Amendment
Survival
Counterparts
Authority
Recording and Registration
Real Estate
Agriculture
Commercial Property
Residential Property
Banking and Finance
Legal Services
Construction
Property Development
Urban Planning
Land Management
Legal
Real Estate
Property Management
Compliance
Finance
Tax
Corporate Services
Land Administration
Business Development
Risk Management
Property Owner
Real Estate Lawyer
Legal Counsel
Property Manager
Land Developer
Corporate Executive
Business Owner
Investment Manager
Compliance Officer
Tax Consultant
Legal Administrator
Property Administrator
Land Surveyor
Municipal Assessor
Registry Officer
Finance Manager
Real Estate Investor
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