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Agreement Of Purchase And Sale Condominium Resale
"I need an Agreement Of Purchase And Sale Condominium Resale for a cash purchase of a 2-bedroom unit in Manila, with closing scheduled for March 15, 2025, including provisions for a quick 30-day closing period and transfer of existing tenant agreements."
1. Parties: Identification of the Seller and Purchaser with complete legal names and addresses
2. Background: Context of the transaction and brief description of the property being sold
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Description: Detailed description of the condominium unit, including unit number, floor area, and location within the building
5. Purchase Price: Total purchase price and breakdown of payment components
6. Payment Terms: Schedule of payments, deposit requirements, and balance payment arrangements
7. Condominium Dues and Assessments: Details of current and prorated condominium fees, special assessments, and utility charges
8. Title and Documentation: Requirements for clear title transfer and necessary documentation
9. Representations and Warranties: Declarations by both parties regarding their capacity to enter into the agreement and the condition of the property
10. Closing Conditions: Requirements to be met before closing, including documentation and payments
11. Closing Costs and Adjustments: Allocation of closing costs, taxes, and fee responsibilities between parties
12. Risk and Insurance: Transfer of risk and insurance requirements
13. Default and Remedies: Consequences of default by either party and available remedies
14. Notices: How formal communications between parties should be made
15. Governing Law: Specification that Philippine law governs the agreement
16. Execution: Signature blocks and execution requirements
1. Parking Space: Details of any parking space included in the sale, to be included if parking is part of the transaction
2. Financing Conditions: Terms related to buyer's financing arrangements, included if purchase is subject to mortgage approval
3. Furniture and Fixtures: List of any furniture or fixtures included in the sale, if applicable
4. Special Assessments: Details of any pending or approved special assessments, if applicable
5. Property Management Transition: Specific arrangements for transition of property management responsibilities, if relevant
6. Renovation Conditions: Any pre-approved renovation plans or restrictions, if applicable
7. Storage Units: Details of any storage units included in the sale, if applicable
8. Building Rules and Regulations: Reference to specific building rules that may affect the sale or use of the unit
9. Broker Provisions: Terms related to real estate broker involvement, if applicable
1. Schedule A - Property Details: Detailed technical description of the unit, including floor plan and measurements
2. Schedule B - Inventory List: Detailed list of fixtures, furniture, and equipment included in the sale
3. Schedule C - Payment Schedule: Detailed breakdown of payment terms and due dates
4. Schedule D - Condominium Certificate of Title: Copy of the current title and technical description
5. Schedule E - Current Assessments: Current statement of condominium dues and assessments
6. Schedule F - Property Inspection Report: Results of property inspection and condition assessment
7. Schedule G - Building Rules and Regulations: Copy of current condominium corporation rules and regulations
8. Appendix 1 - Required Governmental Clearances: List and copies of required government permits and clearances
9. Appendix 2 - Tax Declarations: Current tax declarations and receipts
Authors
Real Estate
Financial Services
Legal Services
Property Management
Insurance
Construction
Urban Development
Banking
Professional Services
Legal
Real Estate
Compliance
Property Management
Sales
Contract Administration
Risk Management
Documentation
Client Relations
Transaction Processing
Real Estate Broker
Property Manager
Real Estate Attorney
Legal Counsel
Property Appraiser
Mortgage Officer
Title Officer
Real Estate Agent
Compliance Officer
Property Developer
Real Estate Investment Manager
Contract Administrator
Property Sales Manager
Real Estate Paralegal
Transaction Coordinator
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