Simple Purchase Agreement For House Template for Philippines

1. Parties: Identifies and provides complete details of the Seller and Buyer, including their full legal names, civil status, addresses, and tax identification numbers

2. Background: Establishes that the Seller owns the property and wishes to sell it to the Buyer, who agrees to purchase under the terms set forth

3. Definitions: Defines key terms used throughout the agreement including 'Property', 'Purchase Price', 'Closing Date', and other relevant terms

4. Property Description: Detailed description of the property including lot area, floor area, boundaries, title details, and complete address

5. Purchase Price: States the total purchase price and currency

6. Payment Terms: Specifies how and when payments will be made, including earnest money, down payment, and balance payment schedule

7. Conditions of Sale: Lists the conditions that must be met before the sale can proceed, including title clearance and property inspection

8. Representations and Warranties: Seller's warranties about property ownership, absence of liens, and other material facts about the property

9. Closing Requirements: Lists documents to be delivered and actions to be taken by each party at closing

10. Transfer of Title: Specifies when and how legal ownership will transfer to the Buyer

11. Taxes and Expenses: Allocates responsibility for transfer taxes, registration fees, and other transaction costs

12. Default and Remedies: Describes what constitutes default by either party and the available remedies

13. Governing Law: Specifies that Philippine law governs the agreement

14. Execution: Signature blocks for parties and witnesses

1. Schedule A - Property Details: Technical description of the property, including lot plan, boundaries, and TCT number

2. Schedule B - Payment Schedule: Detailed breakdown of payment terms including dates and amounts

3. Schedule C - Included Items: List of furniture, fixtures, and other items included in the sale

4. Schedule D - Property Inspection Report: Results of property inspection and any identified issues

5. Schedule E - Required Repairs: List of repairs agreed to be completed before closing

6. Appendix 1 - Property Photos: Recent photographs of the property's interior and exterior

7. Appendix 2 - Property Documents: Copies of relevant certificates, permits, and tax declarations

8. Appendix 3 - Form of Deed of Absolute Sale: Template of the deed to be executed at closing