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Real Estate Buy Out Agreement
"I need a Real Estate Buy Out Agreement for purchasing a residential property in Manila, Philippines, with a closing date of March 15, 2025, including provisions for a 20% earnest money deposit and monthly installment payments over 12 months."
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1. Parties: Identifies and provides complete details of the buyer and seller, including their legal capacity to enter into the agreement
2. Background: Contextual information about the transaction and property, including current ownership status
3. Definitions: Defines key terms used throughout the agreement
4. Property Details: Comprehensive description of the property including lot number, title details, boundaries, and technical description as per the title
5. Purchase Price: States the agreed purchase price and payment terms, including deposit requirements
6. Payment Terms: Detailed breakdown of payment schedule, method of payment, and consequences of default
7. Conditions Precedent: Conditions that must be satisfied before the sale becomes binding
8. Representations and Warranties: Statements of fact and guarantees by both parties regarding the property and their capacity to enter into the agreement
9. Seller's Obligations: Specific duties of the seller including delivery of documents and clearing of encumbrances
10. Buyer's Obligations: Specific duties of the buyer including payment obligations and due diligence requirements
11. Closing Requirements: Documents and actions required to complete the transaction
12. Transfer of Title: Process and requirements for transferring property ownership
13. Taxes and Expenses: Allocation of transaction costs, taxes, and fees between parties
14. Default and Remedies: Consequences of breach and available remedies
15. Governing Law: Specifies Philippine law as governing law and relevant jurisdiction
16. Execution: Formal signing requirements and witness provisions
1. Broker's Commission: Include when a real estate broker is involved in the transaction
2. Environmental Compliance: Required for properties subject to environmental regulations or with potential environmental issues
3. Foreign Ownership Compliance: Include when buyer is a foreign national or corporation to ensure compliance with Philippine foreign ownership restrictions
4. Tenant Rights: Include when the property is currently leased or occupied by tenants
5. Subdivision Approval: Required when the transaction involves subdivision of land
6. Agricultural Land Conversion: Include when the property requires conversion from agricultural use
7. Condominium Association Rules: Include for condominium unit transactions
8. Force Majeure: Optional clause for addressing unforeseen circumstances affecting completion of the transaction
9. Escrow Arrangements: Include when using an escrow agent for the transaction
10. Zoning Compliance: Include when property use or development plans require specific zoning considerations
1. Property Description Schedule: Detailed technical description of the property, including boundaries, improvements, and title information
2. Payment Schedule: Detailed breakdown of payment terms, amounts, and due dates
3. Due Diligence Report: Summary of property inspection, title search, and other investigations
4. Title Documents: Copies of relevant title documents and certificates
5. Tax Clearance Certificates: Proof of payment of relevant property taxes and clearances
6. Property Survey: Recent survey plan and technical description
7. Permits and Licenses: Copies of relevant permits, licenses, and certificates affecting the property
8. Outstanding Encumbrances: List of any existing liens, mortgages, or other encumbrances
9. Photos and Plans: Recent photographs of the property and architectural/development plans if applicable
10. Environmental Certificates: Environmental compliance certificates or assessments where required
Authors
Property
Purchase Price
Closing Date
Closing
Deed of Absolute Sale
Transfer Certificate of Title
Tax Declaration
Due Diligence Period
Earnest Money
Encumbrances
Environmental Laws
Force Majeure
Improvements
Land Registration Authority
Material Adverse Change
Permitted Encumbrances
Real Estate Taxes
Register of Deeds
Seller's Warranties
Title Insurance
Zoning Laws
Business Day
Completion
Conditions Precedent
Default
Deposit
Effective Date
Escrow
Executing Parties
Government Authority
Inspection Period
Legal Requirements
Liens
Notice
Parties
Property Documents
Purchase Documents
Real Property
Representations
Special Power of Attorney
Technical Description
Title Defects
Transaction Documents
Transfer Taxes
Warranties
Purchase Price
Payment Terms
Title Transfer
Representations and Warranties
Due Diligence
Conditions Precedent
Seller Obligations
Buyer Obligations
Closing Conditions
Tax Provisions
Risk and Insurance
Default and Remedies
Force Majeure
Environmental Compliance
Notices
Assignment
Severability
Entire Agreement
Amendment
Governing Law
Dispute Resolution
Indemnification
Confidentiality
Broker Commission
Registration Requirements
Foreign Ownership Compliance
Local Government Compliance
Property Inspection
Title Insurance
Encumbrances
Warranties of Title
Possession and Risk
Survival
Further Assurance
Time of Essence
Costs and Expenses
Real Estate
Banking and Finance
Legal Services
Construction
Property Development
Investment Management
Insurance
Hospitality
Retail
Industrial
Agriculture (for land conversion)
Commercial Property
Legal
Real Estate
Compliance
Finance
Risk Management
Business Development
Property Management
Investment
Operations
Corporate Affairs
Due Diligence
Asset Management
Real Estate Lawyer
Property Developer
Real Estate Broker
Corporate Counsel
Property Manager
Investment Manager
Real Estate Agent
Legal Counsel
Compliance Officer
Chief Financial Officer
Real Estate Analyst
Property Valuation Specialist
Transaction Manager
Business Development Manager
Real Estate Portfolio Manager
Asset Manager
Risk Manager
Title Insurance Officer
Find the exact document you need
Real Estate Buy Out Agreement
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