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Purchase And Sale Agreement Commercial (Real Estate) Template for Philippines

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Key Requirements PROMPT example:

Purchase And Sale Agreement Commercial (Real Estate)

"I need a Purchase and Sale Agreement Commercial (Real Estate) for buying a three-story commercial building in Makati City, Philippines, with a closing date of March 15, 2025, including provisions for existing tenant agreements and specific requirements for foreign ownership compliance."

Document background
The Purchase And Sale Agreement Commercial (Real Estate) is a crucial legal instrument used in the Philippines for transferring ownership of commercial real estate properties. This document is essential when businesses or individuals seek to purchase or sell commercial properties such as office buildings, retail spaces, industrial facilities, or mixed-use developments. It must comply with various Philippine laws including the Civil Code, Property Registration Decree, and local government regulations. The agreement includes comprehensive details about the property, price, payment terms, conditions, warranties, and closing requirements, while incorporating specific provisions mandated by Philippine real estate and tax laws. This document type is particularly important given the complex nature of commercial real estate transactions in the Philippines and the need to ensure proper documentation for regulatory compliance, tax purposes, and title transfer.
Suggested Sections

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

2. Background: Context of the transaction, including brief description of the property and parties' intentions

3. Definitions: Definitions of key terms used throughout the agreement, including specific Philippine legal and regulatory terms

4. Property Description: Detailed description of the commercial property, including lot number, technical description, and tax declaration number

5. Purchase Price: Statement of the purchase price, payment terms, and method of payment in accordance with Philippine banking regulations

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

7. Conditions Precedent: Conditions that must be satisfied before closing, including regulatory approvals and tax clearances

8. Seller's Representations and Warranties: Seller's declarations regarding property ownership, absence of liens, and compliance with Philippine laws

9. Buyer's Representations and Warranties: Buyer's declarations regarding legal capacity and financial ability to complete the purchase

10. Closing Requirements: Documents and actions required for closing, including notarization requirements

11. Transfer of Title: Process and requirements for transferring title under Philippine property laws

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

13. Default and Remedies: Consequences of default and available remedies under Philippine law

14. Governing Law and Jurisdiction: Specification of Philippine law as governing law and jurisdiction for disputes

15. Execution: Formal signing requirements including notarization as required by Philippine law

Optional Sections

1. Due Diligence Period: Used when buyer requires a period to conduct property investigations and title verification

2. Environmental Compliance: Required when property has specific environmental considerations or requirements

3. Tenant Rights and Obligations: Included when property is subject to existing lease agreements

4. Broker Provisions: Required when real estate brokers are involved in the transaction

5. Foreign Ownership Compliance: Required when buyer is a foreign entity, addressing Philippine foreign ownership restrictions

6. Financing Contingency: Used when purchase is contingent on buyer obtaining financing

7. Property Management Transition: Included for properties with ongoing management operations

8. Construction and Development Obligations: Required when property includes incomplete construction or development commitments

9. Condominium Association Provisions: Used for properties within condominium developments

Suggested Schedules

1. Property Details Schedule: Detailed technical description of the property, including boundaries and certificates of title

2. Due Diligence Documents: List of all property-related documents provided for review

3. Permitted Encumbrances: List of accepted liens, easements, or other encumbrances on the property

4. Inventory of Fixtures and Fittings: Detailed list of items included in the sale

5. Tax Certificates: Current real property tax certificates and clearances

6. Environmental Certificates: Environmental compliance certificates and related documents

7. Existing Leases: Details of any existing lease agreements affecting the property

8. Building Permits and Certificates: Copies of all relevant building permits and certificates of occupancy

9. Power of Attorney: If applicable, documents authorizing representatives to act on behalf of parties

10. Payment Schedule: Detailed breakdown of payment terms and schedules

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

Banking and Finance

Retail

Manufacturing

Hospitality

Healthcare

Technology

Education

Logistics and Warehousing

Professional Services

Construction and Development

Energy and Utilities

Entertainment and Recreation

Food and Beverage

Government and Public Sector

Relevant Teams

Legal

Finance

Real Estate

Operations

Business Development

Compliance

Risk Management

Tax

Facilities Management

Property Management

Corporate Affairs

Investment

Asset Management

Development

Acquisitions

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Real Estate Director

Property Manager

Corporate Lawyer

Legal Counsel

Business Development Manager

Investment Manager

Facilities Manager

Asset Manager

Real Estate Broker

Commercial Director

Operations Director

Risk Manager

Compliance Officer

Tax Manager

Finance Director

Corporate Secretary

Development Manager

Acquisitions Manager

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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