The Simple Real Estate Purchase Agreement is a fundamental legal document used in Philippine real estate transactions to formalize the sale and purchase of real property. This document is essential when transferring ownership of real estate, whether residential, commercial, or agricultural property. It must comply with the Civil Code of the Philippines and related property laws, including requirements for notarization and registration with appropriate authorities. The agreement typically includes detailed property descriptions, price and payment terms, warranties, and tax provisions. It's designed to protect both buyer and seller interests while ensuring legal compliance in the Philippine jurisdiction. This template is particularly useful for straightforward property transactions where standard terms and conditions apply, though it can be modified to accommodate specific requirements of the transaction.

1. Parties: Identification of the Seller and Buyer with complete names, civil status, addresses, and tax identification numbers as required by Philippine law

2. Background: Brief context of the transaction and confirmation that the Seller is the rightful owner of the property

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

4. Property Description: Detailed technical description of the property as it appears in the title, including lot number, plan number, and certificate of title details

5. Purchase Price: The agreed purchase price and payment terms, including any earnest money or deposit

6. Payment Terms: Detailed breakdown of how and when payments will be made, including bank details if applicable

7. Closing and Transfer of Title: Process and timeline for closing the sale and transferring the title

8. Representations and Warranties: Standard warranties about property ownership, absence of liens, and authority to sell

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

10. Default and Remedies: Consequences of default by either party and available remedies

11. Governing Law: Specification that the agreement is governed by Philippine law

12. Execution: Signature blocks with requirements for notarization