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Purchase Agreement For House For Sale By Owner
"I need a Purchase Agreement For House For Sale By Owner for my property in Manila, Philippines, for a straightforward cash sale closing on March 15, 2025, with the buyer requiring a 30-day due diligence period and property inspection clause."
1. Parties: Identifies and provides complete details of the Seller and Buyer, including their legal names, civil status, addresses, and tax identification numbers
2. Background: Establishes that the Seller owns the property and wishes to sell, and the Buyer wishes to purchase under the terms set forth
3. Definitions: Defines key terms used throughout the agreement for clarity and legal certainty
4. Property Description: Detailed description of the property including lot number, block number, subdivision details, certificate of title number, and exact location
5. Purchase Price: States the total purchase price and currency
6. Payment Terms: Specifies the payment schedule, method of payment, and any earnest money requirements
7. Title and Documentation: Confirms the Seller's obligation to transfer clear title and provide necessary documentation
8. Closing and Transfer of Title: Details the closing process, timeline, and requirements for title transfer
9. Taxes and Expenses: Allocates responsibility for transfer taxes, registration fees, and other transaction costs
10. Representations and Warranties: States the Seller's declarations regarding property condition, ownership, and encumbrances
11. Default and Remedies: Specifies what constitutes default and the available remedies for both parties
12. Notices: Establishes how and where official communications between parties should be sent
13. Governing Law: Confirms that Philippine law governs the agreement
14. Entire Agreement: States that the document represents the complete agreement between parties
1. Mortgage Contingency: Include when Buyer's purchase is contingent on obtaining mortgage financing
2. Property Inspection: Include when the sale is contingent on satisfactory property inspection
3. Existing Tenancies: Include if the property has current tenants and specifies handling of lease agreements
4. Furniture and Fixtures: Include when specific items of furniture or fixtures are included in the sale
5. Swimming Pool/Special Amenities: Include when the property has special features requiring specific warranties or maintenance agreements
6. Construction Completion: Include for properties under construction or requiring specific renovations before closing
7. Homeowners Association: Include when property is part of a subdivision or condominium with an association
8. Broker Provisions: Include if real estate brokers are involved in the transaction
1. Schedule A - Property Details: Comprehensive technical description of the property, including lot plan, boundaries, and technical specifications
2. Schedule B - Payment Schedule: Detailed breakdown of payment terms, including amounts and due dates
3. Schedule C - Included Items: Itemized list of furniture, fixtures, and equipment included in the sale
4. Schedule D - Title Documents: List of all title and property documents to be transferred
5. Schedule E - Property Inspection Report: Results of property inspection and list of any agreed repairs
6. Schedule F - Tax Certificates: Current real property tax certificates and clearances
7. Appendix 1 - Property Photos: Recent photographs of the property and its major features
8. Appendix 2 - Required Permits: Copies of building permits, occupancy permits, and other relevant certificates
Authors
Property
Certificate of Title
Purchase Price
Closing Date
Closing
Deed of Absolute Sale
Earnest Money
Encumbrances
Force Majeure
Improvements
Notice
Parties
Seller
Buyer
Real Property Tax
Registry of Deeds
Tax Declaration
Title Insurance
Transfer Tax
Zonal Value
Business Day
Documentary Stamps
Due Diligence Period
Effective Date
Fixtures
Personal Property
Property Documents
Representatives
Transfer Certificate of Title
Compliance Certificate
Barangay Clearance
Local Government Unit
Capital Gains Tax
Permitted Encumbrances
Property Insurance
Utilities
Vacant Possession
Value Added Tax
Default
Material Adverse Change
Notarial Acknowledgment
Registration Fees
Survey Plan
Technical Description
Purchase Price
Payment Terms
Title Transfer
Representations and Warranties
Due Diligence
Conditions Precedent
Closing Conditions
Tax Obligations
Risk and Insurance
Default and Remedies
Force Majeure
Notices
Assignment
Severability
Entire Agreement
Governing Law
Dispute Resolution
Property Inspection
Utilities Transfer
Registration and Documentation
Local Government Compliance
Environmental Compliance
Possession and Delivery
Broker Disclaimer
Property Disclosure
Survival
Amendment
Further Assurances
Time of Essence
Real Estate
Legal Services
Financial Services
Banking
Insurance
Public Administration
Construction
Property Development
Property Management
Tax Services
Legal
Real Estate
Property Management
Finance
Tax
Compliance
Risk Management
Administrative Services
Business Development
Customer Relations
Property Owner
Home Buyer
Real Estate Lawyer
Property Manager
Legal Counsel
Notary Public
Bank Manager
Mortgage Officer
Tax Consultant
Property Assessor
Title Insurance Officer
Compliance Officer
Legal Administrator
Real Estate Consultant
Financial Advisor
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