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Property Buy Sell Agreement
"I need a Property Buy Sell Agreement for a residential house and lot sale in Manila, Philippines, with a purchase price of 5 million pesos to be paid in three installments, with the final closing date set for March 15, 2025."
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1. Parties: Identification of the Seller and Buyer with complete legal names, civil status, citizenship, and addresses as required by Philippine law
2. Background: Context of the sale, including brief property history and purpose of the transaction
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 as registered with the Register of Deeds
5. Purchase Price: Agreed purchase price, payment terms, and schedule of payments
6. Mode of Payment: Specified method of payment, including bank details if applicable
7. Conditions Precedent: Conditions that must be met before the sale becomes final, including title verification and property inspection
8. Representations and Warranties: Seller's declarations regarding property ownership, absence of liens, and other material facts
9. Taxes and Expenses: Allocation of transfer taxes, registration fees, and other transaction costs
10. Transfer of Title: Process and timeline for transferring property title to the buyer
11. Possession: Terms and timing of transferring physical possession of the property
12. Default and Remedies: Consequences of breach and available remedies for both parties
13. Governing Law: Specification of Philippine law as governing law and relevant jurisdictions
14. Execution: Signature blocks and notarization requirements
1. Broker Involvement: Terms regarding real estate broker involvement and commission structure, used when a licensed broker facilitates the transaction
2. Mortgage Provisions: Terms relating to existing mortgages or new financing arrangements, included when the property has existing liens or buyer requires financing
3. Tenant Provisions: Terms regarding existing tenants and lease agreements, included when the property is currently leased
4. Construction Warranties: Specific warranties for newly constructed properties, included for new developments or recent constructions
5. Homeowners Association: Terms relating to homeowners association membership and fees, included for properties within managed communities
6. Foreign Ownership Provisions: Special provisions required when the buyer is a foreign national, addressing ownership limitations under Philippine law
7. Condominium Provisions: Special terms applicable to condominium units, including common areas and association rules
8. Environmental Provisions: Additional terms regarding environmental conditions or requirements, included for industrial or commercial properties
1. Property Documents: Copy of title, tax declarations, and property survey
2. Payment Schedule: Detailed breakdown of payment terms and installment schedule if applicable
3. Property Inspection Report: Results of property inspection and list of included fixtures and fittings
4. Tax Certificates: Current real property tax certificates and clearances
5. Photos and Plans: Property photographs, floor plans, and location maps
6. Permits and Licenses: Copies of relevant building permits, occupancy permits, and other licenses
7. Due Diligence Results: Summary of title search results and other due diligence findings
8. Power of Attorney: If applicable, power of attorney documents authorizing representatives to act on behalf of either party
Authors
Property
Purchase Price
Closing Date
Effective Date
Certificate of Title
Transfer Certificate of Title
Tax Declaration
Deed of Absolute Sale
Earnest Money
Down Payment
Balance
Due Diligence Period
Closing Costs
Encumbrances
Force Majeure
Improvements
Material Adverse Change
Permitted Liens
Real Estate Broker
Register of Deeds
Registration Fees
Seller's Warranties
Transfer Taxes
Title Insurance
Zoning Laws
Business Day
Notice
Possession Date
Property Documents
Real Property Tax
Documentary Stamp Tax
Capital Gains Tax
Common Areas
Occupancy Permit
Environmental Laws
Local Government Unit
Building Code
Notarial Fees
Purchase Price
Payment Terms
Title Transfer
Representations and Warranties
Conditions Precedent
Due Diligence
Property Inspection
Taxes and Fees
Default and Remedies
Force Majeure
Possession and Delivery
Broker Commission
Environmental Compliance
Insurance
Assignment
Notices
Governing Law
Dispute Resolution
Entire Agreement
Severability
Amendment
Indemnification
Registration and Notarization
Survival
Further Assurance
Time of Essence
Property Maintenance
Risk of Loss
Termination
Real Estate
Banking and Finance
Legal Services
Construction and Development
Property Management
Insurance
Hospitality
Retail
Industrial and Manufacturing
Agriculture
Education
Healthcare
Legal
Real Estate
Compliance
Finance
Risk Management
Operations
Business Development
Property Management
Asset Management
Acquisitions
Investment
Corporate Affairs
Real Estate Agent
Property Lawyer
Legal Counsel
Property Manager
Real Estate Broker
Corporate Lawyer
Compliance Officer
Real Estate Developer
Property Acquisition Manager
Chief Legal Officer
Real Estate Investment Manager
Title Officer
Property Valuation Specialist
Conveyancing Lawyer
Real Estate Operations Manager
Business Development Manager
Chief Financial Officer
Risk Management Officer
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