The Real Estate Sales Contract is a fundamental legal instrument used in the Philippines for documenting and executing property transfers. It serves as the primary agreement between parties in real estate transactions, whether for residential, commercial, or industrial properties. This document must comply with various Philippine laws including the Civil Code, Property Registration Decree (PD 1529), and relevant tax regulations. It's essential for both private and commercial transactions, requiring specific formatting, content, and execution procedures unique to Philippine jurisdiction. The contract typically includes detailed property descriptions, price and payment terms, warranties, and closing conditions, all structured to ensure enforceability under Philippine law. It's particularly important as it serves as the basis for the eventual Deed of Absolute Sale and subsequent title transfer with the Register of Deeds.

1. Parties: Identification of the Seller and Buyer with complete details as required by Philippine law, including civil status which is crucial for property transactions

2. Background: Context of the sale and brief description of the property being sold

3. Definitions: Key terms used throughout the agreement, including technical and legal terms specific to Philippine real estate

4. Property Details: Comprehensive description of the property including lot number, plan number, certificate of title number, and exact boundaries as per technical description

5. Purchase Price: Total consideration and payment terms, including method and schedule of payments

6. Mode of Payment: Detailed breakdown of payment structure, including earnest money, down payment, and balance payment arrangements

7. Representations and Warranties: Seller's declarations regarding ownership, absence of liens, and property condition; Buyer's warranties regarding financial capacity

8. Conditions Precedent: Requirements that must be met before closing, including title verification and payment of taxes

9. Closing and Transfer of Title: Process and timeline for executing deed of sale and transferring title

10. Taxes and Expenses: Allocation of transfer taxes, registration fees, and other transaction costs

11. Default and Remedies: Consequences of breach and available remedies for either party

12. Governing Law: Specification of Philippine law as governing law and relevant jurisdictional provisions

13. Execution: Formal signing section with requirements for witnesses and notarization as per Philippine law