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Property Buyer Seller Agreement Template for Philippines

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Key Requirements PROMPT example:

Property Buyer Seller Agreement

"I need a Property Buyer Seller Agreement for the purchase of a commercial building in Makati City, Philippines, with a staged payment plan over 6 months starting March 2025, including provisions for current tenant obligations and environmental compliance requirements."

Document background
The Property Buyer Seller Agreement is a crucial legal document used in Philippine real estate transactions to formalize the transfer of property ownership. This agreement is essential when any real property is being sold or purchased in the Philippines, whether for residential, commercial, or industrial purposes. It must comply with various Philippine laws including the Civil Code, Property Registration Decree, and Real Estate Service Act. The document typically includes detailed property descriptions, purchase terms, payment schedules, warranties, and closing conditions. It's designed to protect both parties' interests while ensuring the transaction meets all legal requirements for property transfer in the Philippines. The agreement is particularly important as it serves as the foundation for the eventual transfer of title and must be properly executed and notarized according to Philippine law.
Suggested Sections

1. Parties: Identification and details of the Seller and Buyer, including complete legal names, addresses, and tax identification numbers as required by Philippine law

2. Background: Context of the transaction, including brief property history and purpose of the sale

3. Definitions: Definitions of key terms used throughout the agreement, including property-specific terminology

4. Property Description: Detailed description of the property including lot number, title details, boundaries, and technical description as per the title certificate

5. Purchase Price: Agreed purchase price, payment terms, and schedule of payments

6. Payment Terms: Detailed breakdown of payment structure, including deposits, installments, and final payment requirements

7. Conditions Precedent: Conditions that must be met before the sale can proceed, including title verification and property inspection

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

9. Buyer's Representations and Warranties: Buyer's declarations regarding financial capacity and compliance with anti-money laundering requirements

10. Closing and Transfer of Title: Process and requirements for completing the sale and transferring property ownership

11. Taxes and Expenses: Allocation of transaction costs, including transfer taxes, registration fees, and professional fees

12. Default and Remedies: Consequences of breach by either party and available remedies

13. Governing Law: Specification of Philippine law as governing law and relevant jurisdictional matters

14. Execution: Signature blocks and notarization requirements as per Philippine law

Optional Sections

1. Broker Involvement: Details of real estate broker involvement and commissions, required when a licensed broker is involved in the transaction

2. Mortgage Contingency: Terms related to buyer's mortgage financing, included when purchase is dependent on mortgage approval

3. Property Management During Transition: Terms governing property management between contract signing and closing, relevant for income-generating properties

4. Tenant Rights and Obligations: Required when the property is currently leased to tenants

5. Subdivision Regulations: Included when property is part of a subdivision or planned development

6. Construction Warranties: Required for newly constructed properties or properties under construction

7. Environmental Compliance: Required for industrial properties or properties with potential environmental concerns

8. Foreign Ownership Provisions: Required when buyer is a foreign national, addressing restrictions under Philippine law

Suggested Schedules

1. Schedule A - Property Details: Technical description of the property, including certified true copy of title and tax declaration

2. Schedule B - Payment Schedule: Detailed breakdown of payment terms, amounts, and due dates

3. Schedule C - Property Inventory: List of fixtures, fittings, and other items included in the sale

4. Schedule D - Outstanding Taxes and Fees: List of all current tax obligations and outstanding fees related to the property

5. Schedule E - Required Permits: List of permits and certificates required for property transfer

6. Schedule F - Property Inspection Report: Findings from property inspection and any identified issues

7. Appendix 1 - Property Photos: Recent photographs of the property and its major features

8. Appendix 2 - Property Plans: Architectural plans, lot plans, and other relevant drawings

Authors

Alex Denne

Head of Growth (Open Source Law) @ 抖阴短视频 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions








































Clauses






































Relevant Industries

Real Estate

Property Development

Banking & Finance

Legal Services

Construction

Hospitality

Retail

Industrial

Commercial Property

Residential Property

Agriculture

Education

Relevant Teams

Legal

Real Estate

Property Management

Facilities

Compliance

Risk Management

Business Development

Operations

Finance

Acquisitions

Asset Management

Relevant Roles

Real Estate Agent

Property Manager

Legal Counsel

Corporate Lawyer

Real Estate Broker

Property Developer

Business Development Manager

Facilities Manager

Real Estate Investment Manager

Contract Administrator

Compliance Officer

Real Estate Consultant

Property Valuation Specialist

Real Estate Portfolio Manager

Title Officer

Real Estate Transaction Coordinator

Industries








Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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