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Residential Resale Contract
"I need a Residential Resale Contract for a property in Metro Manila, Philippines, with a scheduled closing date of March 15, 2025, including specific provisions for an existing tenant who will remain in the property for 6 months after the sale."
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1. Parties: Identification and details of the seller and buyer, including complete names, civil status, addresses, and tax identification numbers
2. Background: Brief history of the property ownership and context of the sale
3. Definitions: Key terms used throughout the contract defined for clarity and legal certainty
4. Property Description: Detailed description of the property including lot number, street address, boundaries, and title details
5. Purchase Price: Agreed purchase price and payment terms including deposit and balance payment schedule
6. Mode of Payment: Specific details on how payments will be made and accepted
7. Transfer of Title: Process and timeline for transferring property title to the buyer
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. Possession: Terms and timing for transferring physical possession of the property
11. Default and Remedies: Consequences and remedies for breach of contract terms
12. Governing Law: Specification of Philippine law as governing law and jurisdiction
13. Notices: How formal communications between parties should be made and delivered
14. Execution: Signature blocks and notarization requirements
1. Broker Involvement: Details of real estate broker involvement and commission arrangements, included when a licensed broker is part of the transaction
2. Existing Tenancies: Information about current tenants and lease agreements, included when the property is sold with existing tenants
3. Mortgage Details: Terms related to existing mortgages or new financing arrangements, included when the property has an existing mortgage or buyer requires financing
4. Property Inspection: Specific terms about property inspection rights and results, included when buyer requires inspection period
5. Fixtures and Fittings: Detailed list of items included/excluded in the sale, included when there are specific items to be included or excluded
6. Renovation Requirements: Specific terms about required repairs or renovations before closing, included when property requires work before transfer
7. Zoning Compliance: Statements regarding zoning and land use compliance, included when there are specific zoning considerations
8. Environmental Matters: Environmental compliance and issues, included when environmental concerns exist
1. Schedule A - Property Details: Comprehensive technical description of the property including lot plans and technical specifications
2. Schedule B - Title Documents: List of all title documents and certified true copies of relevant certificates
3. Schedule C - Payment Schedule: Detailed breakdown of payment terms including amounts and due dates
4. Schedule D - Property Inspection Report: Results of property inspection and list of any identified issues
5. Schedule E - Inventory of Fixtures: Detailed inventory of fixtures and fittings included in the sale
6. Schedule F - Tax Certificates: Current real property tax certificates and tax clearances
7. Appendix 1 - Property Photos: Recent photographs of the property's interior and exterior
8. Appendix 2 - Required Permits: Copies of relevant permits and certificates of compliance
Authors
Property
Purchase Price
Closing Date
Deed of Absolute Sale
Earnest Money
Encumbrances
Certificate of Title
Transfer Certificate of Title
Tax Declaration
Closing Costs
Due Diligence Period
Effective Date
Business Day
Force Majeure
Improvements
Real Estate Broker
Real Property Tax
Registration Fees
Transfer Tax
Documentary Stamps
Capital Gains Tax
Value Added Tax
Title Insurance
Zonal Value
Notice
Material Defect
Possession Date
Utilities
Common Areas
Property Documents
Warranties
Default
Remedies
Governing Law
Contract Balance
Down Payment
Occupancy Rights
Liens
Assessments
Sale and Purchase
Purchase Price
Payment Terms
Property Transfer
Title and Ownership
Representations and Warranties
Seller Obligations
Buyer Obligations
Due Diligence
Property Condition
Risk and Insurance
Default and Remedies
Force Majeure
Tax Provisions
Registration and Documentation
Property Handover
Utilities Transfer
Broker Commission
Legal Compliance
Dispute Resolution
Notices
Assignment
Severability
Entire Agreement
Amendment
Governing Law
Indemnification
Survival
Termination
Real Estate
Legal Services
Financial Services
Insurance
Property Development
Construction
Banking
Property Management
Professional Services
Legal
Real Estate
Property Management
Sales
Contracts Administration
Documentation
Compliance
Risk Management
Property Services
Transaction Processing
Real Estate Agent
Property Lawyer
Conveyancing Officer
Real Estate Broker
Property Manager
Legal Counsel
Title Officer
Real Estate Paralegal
Property Assessor
Mortgage Officer
Real Estate Transaction Coordinator
Contract Administrator
Legal Document Specialist
Property Sales Manager
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