Contract To Sell Real Property
CONTRACT TO SELL REAL PROPERTY
KNOW ALL MEN BY THESE PRESENTS:
This CONTRACT TO SELL is made, executed and entered into by:
(NAME OF SELLER), of legal age, single/married to (name of spouse), Filipino, and with residence and postal address at (address of seller), hereinafter referred to as the SELLER
(NAME OF BUYER), Filipino and with residence and postal address at (Address of Buyer), hereinafter referred to as the BUYER.
WHEREAS, the SELLER is the registered owner of a parcel of land with improvements located at (address of property to be sold) and covered by Transfer Certificate of Title No. (TCT Number) containing a total area of (Land Area of Property in Words) (000) SQUARE METERS, more or less, and more particularly described as follows:
TRANSFER CERTIFICATE OF TITLE NO. 0000
(Insert the technical description of the property on the title)
WHEREAS, the BUYER has offered to buy and the SELLER has agreed to sell the above-mentioned property under the terms and conditions herein below set forth;
NOW THEREFORE, for and in consideration of the sum of (amount in words) (P 000,000.00) Philippine Currency, and of the covenants herein after set forth, the SELLER agrees to sell and the BUYER agrees to buy the aforesaid property subject to the following terms and conditions:
1. The total consideration shall be (amount in words) (P 000,000.00) Philippine Currency, payable as follows:
a.) The amount of (amount in words) (P 000,000.00), representing earnest money shall be payable by the BUYER to the SELLER upon signing of this Contract to Sell;
b.) The remaining balance in the amount of (amount in words) (P 000,000.00), shall be paid in cash on or before __________________, 20__.
c.) In case the check representing the payment for the balance provided in paragraph (b) hereof is dishonored by the drawee bank, the earnest money in the amount of (amount in words) shall be forfeited in favor of the SELLER.
2. Capital Gains Tax and Real Estate Tax, shall be for the account of the SELLER.
3. Documentary Stamps Tax, Registration Fee, registration expenses, and all other miscellaneous fees and expenses shall be for the account of the BUYER.
4. Possession to the subject property shall be delivered by the SELLER to the BUYER upon full payment of the total consideration;
5. Upon full payment of the total price, the SELLER shall sign and execute a DEED OF ABSOLUTE SALE in favor of the BUYER. The SELLER shall likewise execute and/or deliver any and all documents, including but not limited to the original copy of Transfer Certificate of Title, Tax Declaration and all other documents necessary for the transfer of ownership from SELLER to the BUYER.
(NAME OF SELLER) (NAME OF BUYER)
WITH MARITAL CONSENT:
Name of Seller’s Spouse Name of Buyer’s Spouse
SIGNED IN THE PRESENCE OF:
REPUBLIC OF THE PHILIPPINES )
_____________________________ ) SS.
BEFORE ME, a Notary Public for and in the City of ___________________, this ___________________, personally appeared:
Name SSS Nos. / Driverâ€™s License No.
(Name of Seller) ____________________________
(Name of Buyer) ____________________________
who are known to me and to me known to be the same persons who executed the foregoing instrument and acknowledged to me that the same is their own free act and voluntary act and deed.
This instrument, consisting of (__) pages, including the page on which this acknowledgment is written, has been signed on the left margin of each and every page hereof by the concerned parties and their witnesses, and sealed with my notarial seal.
WITNESS MY HAND AND SEAL, at the place and date above-written.
Doc. No. ……..;
Page No. …….;
Book No. …….;
Series of 2010.