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CONTRACT TO SELL (Sample)

This document is a contract to sell a condominium property located in Pasig City from the Seller to the Buyer. The Seller agrees to sell and the Buyer agrees to buy the property for a total price of 1.65 million pesos. The Buyer will pay a 50,000 peso down payment and finance the remaining 1.6 million through a bank loan by September 31, 2020. The Seller and Buyer will sign a deed of absolute sale and the Seller will transfer property ownership documents to the Buyer upon full payment of the price.

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1K views3 pages

CONTRACT TO SELL (Sample)

This document is a contract to sell a condominium property located in Pasig City from the Seller to the Buyer. The Seller agrees to sell and the Buyer agrees to buy the property for a total price of 1.65 million pesos. The Buyer will pay a 50,000 peso down payment and finance the remaining 1.6 million through a bank loan by September 31, 2020. The Seller and Buyer will sign a deed of absolute sale and the Seller will transfer property ownership documents to the Buyer upon full payment of the price.

Uploaded by

arne navarra
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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CONTRACT TO SELL

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT TO SELL, made and executed this ____ day of _________, 20__ by and between:

SELLER’S NAME, of legal age, single, Filipino, and with residence and postal address at
______________________________, hereinafter referred to as the "SELLER";

-AND-

BUYER’S NAME, Filipino and with residence and postal address at (Property Address),
hereinafter referred to as the "BUYER".

WITNESSETH;

WHEREAS, the SELLER is the absolute and registered owner of the condominium
consisting of Forty and 43/100 (40.43) square meters, more or less, located at (Property
address) and covered by Condominium Certificate of Title No. (No.) issued by the Registry of
Deeds of the city of Pasig and with the inclusion of the owned covered parking slot with slot no.
______;

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 total sum of One Million Six Hundred
Fifty Thousand Pesos (Php: 1,650,000.00) 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 One Million Six Hundred Fifty Thousand (Php:
1,650,000.00) PESOS, Philippine Currency, payable as follows:

a) The amount of FIFTY THOUSAND (Php: 50,000.00) PESOS, representing down-payment


shall be payable by the BUYER to the SELLER upon signing of this Contract to Sell;

b) The remaining balance in the amount of ONE MILLION SIX HUNDRED THOUSAND (Php:
1,600,000.00) PESOS, shall be paid through Bank Financing on or before September 31, 2020.
During this period the SELLER shall not accept interested purchaser of the aforesaid property.

c) In the event that the approved Bank Loan is more than the remaining balance of ONE
MILLION SIX HUNDRED THOUSAND (Php: 1,600,000.00) the SELLER should return back the
excess amount to the BUYER.

d) In the event that the transaction expires on September 31, 2020 and the BUYER was not
able to comply with the remaining balance the BUYER has the right of first refusal. The
SELLER shall return the down-payment in 30 working days.

2. Capital Gains Tax and Real Estate Tax, shall be for the account of the BUYER;

3. Documentary Stamps Tax, Registration Fee, registration expenses, and all other
miscellaneous fees and expenses shall be to 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 Condominium
Certificate of Title, Tax Declaration and all other documents necessary for the transfer of
ownership from SELLER to the BUYER.
IN WITNESS WHEREOF, the parties have hereunto affixed their signatures, this ___ day of
____________, 20__ at ______________________, Philippines.

SELLER BUYER
SELLER’S NAME BUYER’S NAME

SIGNED IN THE PRESENCE OF:

__________________________ ____________________________
ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)


_____________________________ ) SS.

BEFORE ME, a Notary Public, this ____________day of ________________, personally appeared


the following:

Name TIN Number

JOSE ARNE G. NAVARRA JR 319-808-200


SELLER’S NAME 10000000

This instrument, consisting of ___ page/s, including the page on which this acknowledgment is
written, has been signed on the left margin of each and every page thereof by the concerned
parties and their witnesses, and sealed with my notarial seal.

IN WITNESS WHEREOF, I have hereunto set my hand the day, year and place above written.

Notary Public

Doc. No. ........;


Page No. .......;
Book No. .......;
Series of 2020.

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