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The Mortgage Sales Agreement is a specialized legal instrument used in Philippine real estate transactions where property purchase is facilitated through mortgage financing. This document is essential when buyers require bank or financial institution funding to complete a property purchase. It incorporates elements of both a standard property sale agreement and a mortgage agreement, ensuring compliance with Philippine property laws, banking regulations, and consumer protection requirements. The agreement typically includes detailed provisions about the property, purchase price, payment terms, mortgage conditions, and security arrangements. It serves to protect all parties' interests by clearly defining their rights and obligations, including specific requirements under Philippine law for property transfer, registration, and mortgage creation. This document is particularly important given the strict regulatory framework governing property transactions and mortgage lending in the Philippines.

1. Parties: Identification of the Seller, Buyer, and any relevant financial institutions involved in the mortgage arrangement

2. Background: Context of the transaction, including brief property description and intention to enter into a mortgage-based sale

3. Definitions: Key terms used throughout the agreement, including technical and legal terminology

4. Property Details: Comprehensive description of the property being sold, including legal description, boundaries, and improvements

5. Purchase Price and Payment Terms: Total purchase price, down payment amount, and mortgage financing details

6. Mortgage Terms: Specific terms of the mortgage including interest rate, payment schedule, and duration

7. Conditions Precedent: Requirements that must be met before the agreement becomes effective, including mortgage approval

8. Seller's Representations and Warranties: Seller's guarantees regarding property ownership, condition, and absence of encumbrances

9. Buyer's Representations and Warranties: Buyer's declarations regarding financial capacity and understanding of obligations

10. Title Transfer and Registration: Process and requirements for transferring property title and registering the mortgage

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

12. Default and Remedies: Consequences and available remedies in case of payment default or breach of agreement

13. Insurance: Required property insurance and terms

14. Notices: How formal communications between parties should be made

15. Governing Law and Jurisdiction: Specification of Philippine law as governing law and relevant jurisdiction

16. Execution: Signature blocks and notarization requirements