The Offer To Purchase Form is a crucial document in Philippine real estate transactions, serving as the formal initiation of a property purchase negotiation. It is used when a prospective buyer wishes to express serious interest in acquiring real property and wants to formalize their offer in writing. The document typically includes detailed information about the property, proposed purchase price, payment terms, conditions for the sale, and any special requirements or contingencies. Under Philippine law, while not all verbal contracts are invalid, real estate transactions require proper documentation, making this form an essential step in the property acquisition process. The document helps protect both parties' interests and serves as a basis for the final deed of sale if the offer is accepted. It must comply with requirements under the Civil Code of the Philippines and other relevant real estate regulations.
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1. Parties: Full legal names and details of the prospective buyer (offeror) and property owner (offeree), including their complete addresses and contact information
2. Property Description: Detailed description of the property being offered to purchase, including exact address, lot number, tax declaration number, and certificate of title number
3. Purchase Price: The total amount being offered for the property, stated both in numbers and words, including the proposed payment terms
4. Earnest Money: Amount of earnest money deposit being provided with the offer, including payment method and conditions
5. Terms of Payment: Detailed breakdown of how and when payments will be made, including any financing conditions
6. Conditions Precedent: Any conditions that must be met before the sale can proceed, such as title search, property inspection, or loan approval
7. Offer Validity: The period for which the offer remains valid and deadline for acceptance
8. Closing Date: Proposed date for completing the transaction and transferring ownership
9. Signatures: Space for signatures of the offeror, witnesses, and acceptance by the offeree
1. Due Diligence Period: Include when buyer requires time to conduct property inspections, title search, or other investigations
2. Financing Contingency: Include when the offer is contingent on the buyer obtaining specific financing terms
3. Property Inspection Results: Include when the buyer has already conducted preliminary inspections and wants to note findings
4. Existing Tenancies: Include when the property has current tenants and specific arrangements need to be addressed
5. Fixtures and Fittings: Include when specific items within the property are to be included or excluded from the sale
6. Special Conditions: Include when there are unique circumstances or requirements specific to the transaction
1. Schedule A - Property Details: Detailed technical description of the property, including lot size, boundaries, and technical specifications
2. Schedule B - Payment Schedule: Detailed breakdown of payment terms, including amounts and due dates
3. Schedule C - Property Documents: List of all relevant property documents provided or reviewed
4. Appendix 1 - Property Photos: Recent photographs of the property and its major features
5. Appendix 2 - Property Plans: Floor plans, lot plans, or architectural drawings if applicable
6. Appendix 3 - Due Diligence Checklist: List of items to be verified during the due diligence period
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