1. Parties: Identification and details of the Seller and Buyer, including complete names, civil status, addresses, and tax identification numbers
2. Background: Brief context of the transaction, including the Seller's ownership of the property and intention to sell, and the Buyer's intention to purchase
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Description: Detailed description of the property including lot number, street address, boundaries, certificate of title number, and tax declaration number
5. Purchase Price: The agreed purchase price and payment terms, including any deposit or earnest money
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 can proceed, including title verification and property inspection
8. Seller's Representations and Warranties: Seller's declarations regarding property ownership, absence of liens, and authority to sell
9. Buyer's Representations and Warranties: Buyer's declarations regarding financial capacity and authority to purchase
10. Closing and Transfer of Title: Process and timeline for completing the sale and transferring property ownership
11. Taxes and Expenses: Allocation of transfer taxes, registration fees, and other transaction costs
12. Risk and Insurance: Transfer of risk and responsibility for insuring the property
13. Default and Remedies: Consequences of breach by either party and available remedies
14. Governing Law: Specification of Philippine law as governing law and jurisdiction
15. Notices: Process for sending formal notices between parties
16. Entire Agreement: Statement that the contract represents the complete agreement between parties
