Land Purchase Option Agreement Template for Philippines

1. Due Diligence: Terms for conducting property investigations and surveys during the option period - include when buyer requires specific investigation rights

2. Financing Conditions: Conditions related to the Option Holder's ability to secure financing - include when financing is a critical factor

3. Assignment Rights: Rights to assign the option to third parties - include when assignment might be desired

4. Environmental Matters: Specific provisions regarding environmental conditions - include for industrial or potentially contaminated properties

5. Development Conditions: Conditions related to zoning or development approvals - include for undeveloped land or properties requiring rezoning

6. Multiple Option Holders: Provisions governing relationship between multiple option holders - include when there are multiple buyers

7. Right of First Refusal: Additional rights if the property is not sold after option expiration - include when negotiated by parties

8. Force Majeure: Provisions for unexpected events affecting the agreement - include in areas prone to natural disasters

1. Property Description Schedule: Detailed technical description of the property, including metes and bounds, lot plan, and technical description

2. Title Documents: Copy of the current title and certified true copies of relevant title documents

3. Payment Schedule: Detailed breakdown of the option fee and purchase price payment terms

4. Form of Exercise Notice: Template notice for exercising the option

5. Due Diligence Documents: List of documents provided or to be provided for due diligence

6. Encumbrances Schedule: List of any existing encumbrances, easements, or restrictions on the property

7. Property Inspection Report: Current condition report of the property

8. Tax Certificates: Current real property tax certificates and clearances