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House Sale Contract Form
"I need a House Sale Contract Form for a two-story residential property in Manila, with a closing date of March 15, 2025, including provisions for a 30% down payment and the remaining balance to be paid through bank financing."
1. Parties: Identification of the Seller and Buyer with complete legal names and addresses
2. Background: Context of the sale and brief description of the property being sold
3. Definitions: Key terms used throughout the contract defined for clarity
4. Property Details: Complete description of the property including lot number, street address, boundaries, and title details
5. Purchase Price: Total purchase price and payment terms including method and schedule of payments
6. Terms of Payment: Detailed breakdown of payment structure, including earnest money, down payment, and balance payment schedule
7. Representations and Warranties: Seller's declarations regarding property ownership, encumbrances, and condition
8. Conditions Precedent: Requirements that must be met before the sale can be completed
9. Closing and Transfer of Title: Process and timeline for executing deed of sale and transferring title
10. Taxes and Expenses: Allocation of transfer taxes, registration fees, and other transaction costs
11. Default and Remedies: Consequences and available remedies in case of breach by either party
12. Governing Law: Specification of Philippine law as governing law and jurisdiction
13. Execution: Signature blocks and notarization requirements
1. Broker Involvement: Details of real estate broker's role and commission when a broker is involved
2. Mortgage Contingency: Conditions related to buyer's obtaining mortgage financing, if applicable
3. Property Inspection: Terms for property inspection period and consequences of findings
4. Occupancy Agreement: Terms for seller's continued occupancy post-closing if needed
5. Home Warranty: Details of any home warranty being provided with the sale
6. Construction Completion: For properties under construction, specifications for completion
7. Foreign Ownership Compliance: Special provisions when buyer is a foreign national
8. Condominium Association: Special provisions for properties subject to condominium association rules
1. Schedule A - Property Description: Detailed technical description of the property including lot plan, boundaries, and technical specifications
2. Schedule B - Payment Schedule: Detailed breakdown of payment terms including dates and amounts
3. Schedule C - Property Inventory: List of fixtures and fittings included in the sale
4. Schedule D - Title Documents: Copies of relevant title documents and certificates
5. Schedule E - Property Photographs: Recent photographs of the property and its major features
6. Appendix 1 - Due Diligence Documents: Copies of tax declarations, receipts, and other relevant certificates
7. Appendix 2 - Property Clearances: Copies of necessary government clearances and permits
8. Appendix 3 - Power of Attorney: If applicable, power of attorney documents for represented parties
Authors
Real Estate
Legal Services
Banking and Finance
Insurance
Construction
Property Development
Property Management
Public Sector
Professional Services
Legal
Real Estate
Sales
Compliance
Risk Management
Property Management
Operations
Documentation
Finance
Customer Relations
Real Estate Agent
Property Lawyer
Conveyancing Attorney
Property Manager
Real Estate Broker
Legal Counsel
Mortgage Officer
Property Appraiser
Title Officer
Compliance Officer
Real Estate Developer
Sales Manager
Contract Administrator
Property Consultant
Risk Assessment Officer
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