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Real Estate Agreement To Sell
"I need a Real Estate Agreement to Sell for a residential condominium unit in Makati City, Philippines, with a total purchase price of 15 million pesos to be paid in installments over 24 months starting March 2025, with standard developer terms and conditions."
1. Parties: Identifies and provides complete details of the Seller and Buyer, including their legal capacities to enter into the agreement
2. Background: Establishes the context of the agreement, including brief property description and parties' intention to enter into a sale transaction
3. Definitions: Defines key terms used throughout the agreement to ensure clarity and prevent misinterpretation
4. Property Description: Detailed description of the real estate property including location, boundaries, and title details
5. Purchase Price: Specifies the total purchase price, payment terms, and schedule of payments
6. Payment Terms: Details the structure of payments including down payment, installments, and final payment requirements
7. Conditions Precedent: Lists conditions that must be fulfilled before the sale can be completed
8. Seller's Representations and Warranties: Statements affirming the Seller's authority to sell and the property's legal status
9. Buyer's Representations and Warranties: Statements regarding the Buyer's capacity and commitment to purchase
10. Title Transfer: Process and timing for transferring property title from Seller to Buyer
11. Taxes and Expenses: Allocation of transfer taxes, registration fees, and other transaction costs
12. Default and Remedies: Consequences of default by either party and available remedies
13. Termination: Circumstances under which the agreement may be terminated and its consequences
14. Governing Law: Specifies Philippine law as governing law and relevant jurisdiction
15. Execution: Formal closing section with signature blocks and notarization requirements
1. Broker Involvement: Details of real estate broker involvement and commission arrangements, used when a licensed broker is involved
2. Mortgage Provisions: Terms relating to mortgage financing, used when buyer requires bank financing
3. Property Inspection: Terms for conducting property inspections and addressing findings, used for properties requiring detailed inspection
4. Occupancy Provisions: Terms regarding current occupants and vacancy requirements, used when property is occupied
5. Construction Completion: Terms regarding completion of ongoing construction, used for pre-selling arrangements
6. Homeowners Association: Terms relating to homeowners association membership and fees, used for properties within subdivisions or condominiums
7. Force Majeure: Provisions for unforeseen circumstances affecting the transaction, used in areas prone to natural disasters
8. Assignment Rights: Terms regarding the right to assign the agreement to another party, used when assignment might be contemplated
1. Schedule A - Property Details: Comprehensive technical description of the property, including lot area, 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 property-related documents including title, tax declarations, and permits
4. Schedule D - Property Inspection Report: Detailed report of property condition and any identified issues
5. Schedule E - Permits and Licenses: Copies of relevant permits, licenses, and certificates affecting the property
6. Appendix 1 - Property Photos: Recent photographs of the property and its relevant features
7. Appendix 2 - Location Map: Maps showing the property location and access routes
8. Appendix 3 - Form of Deed of Absolute Sale: Template of the final deed of sale to be executed upon completion of payments
Authors
Real Estate Development
Residential Property
Commercial Property
Industrial Property
Property Investment
Construction
Banking and Finance
Legal Services
Property Management
Urban Development
Legal
Real Estate
Sales
Compliance
Business Development
Property Management
Documentation
Risk Management
Finance
Corporate Secretarial
Real Estate Broker
Property Manager
Legal Counsel
Corporate Lawyer
Real Estate Developer
Sales Director
Property Consultant
Compliance Officer
Real Estate Agent
Business Development Manager
Contract Administrator
Title Officer
Real Estate Investment Manager
Documentation Specialist
Property Valuation Officer
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