Memorandum Of Understanding (Real Estate) Template for Philippines

1. Exclusivity: Optional binding provision preventing parties from negotiating with other parties for a specified period

2. Break Fee: Optional provision for compensation if one party withdraws from negotiations under specific circumstances

3. Broker/Agent Representation: Required if real estate brokers or agents are involved in the transaction

4. Local Government Requirements: Specific section addressing local government requirements if the property is subject to special zoning or development regulations

5. Environmental Matters: Required if the property has potential environmental concerns or requires environmental clearances

6. Indigenous Peoples' Rights: Required if the property is located in or near areas covered by the Indigenous Peoples Rights Act

7. Foreign Ownership Considerations: Required if any party is a foreign entity, addressing Philippine foreign ownership restrictions

1. Schedule A - Property Details: Detailed technical description of the property, including lot numbers, boundaries, and technical descriptions from the title

2. Schedule B - Initial Price Considerations: Preliminary discussion of pricing and payment terms, if already discussed

3. Schedule C - Due Diligence Requirements: List of required documents and information for due diligence

4. Schedule D - Timeline: Detailed timeline with specific milestones and deadlines

5. Schedule E - Required Permits and Licenses: List of necessary government permits and licenses relevant to the property

6. Appendix 1 - Property Documents: Copies of relevant property documents including title, tax declarations, and surveys

7. Appendix 2 - Corporate Documents: Copies of corporate documents proving authority to enter into the MOU