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The Private House Sale Contract is a crucial legal document used in the Philippines for transferring residential property ownership between private parties. This document is essential when conducting a direct sale of residential property without the involvement of a real estate developer or agency, though brokers may still be involved. The contract must comply with the Civil Code of the Philippines, Property Registration Decree, and various tax regulations. It typically includes comprehensive details about the property, parties involved, purchase price, payment terms, warranties, and specific requirements for property transfer in the Philippine jurisdiction. The document serves as the primary evidence of the transaction and must be properly notarized and witnessed according to Philippine law. It's particularly important for ensuring clear title transfer and protecting both buyer's and seller's interests in residential property transactions.

1. Parties: Identification of the Seller and Buyer with complete legal names and addresses

2. Background: Brief context of the sale and confirmation that the Seller owns the property

3. Definitions: Key terms used throughout the agreement including Property, Completion Date, Purchase Price, etc.

4. Property Details: Complete description of the property including lot number, street address, boundaries, and title details

5. Purchase Price: Agreed purchase price and payment structure

6. Payment Terms: Detailed breakdown of payment schedule, deposit requirements, and final payment arrangements

7. Conditions Precedent: Conditions that must be met before the sale can proceed

8. Seller's Representations and Warranties: Seller's guarantees regarding property ownership, absence of liens, and other material facts

9. Buyer's Representations and Warranties: Buyer's guarantees regarding capacity to purchase and source of funds

10. Completion Requirements: Documents and actions required from both parties to complete the sale

11. Tax Obligations: Specification of who will pay various taxes (capital gains, documentary stamp, transfer tax)

12. Risk and Insurance: Transfer of risk and insurance requirements until completion

13. Termination: Circumstances under which the contract may be terminated and consequences

14. Governing Law: Confirmation that Philippine law governs the agreement

15. Signing and Execution: Formal execution block with witnesses as required under Philippine law