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Contract To Sell

This document is a contract to sell a 50 sqm condominium unit located in San Juan City from seller Alex Regado to buyer Amy Vicencio. The total consideration is PHP 3.2 million, with PHP 300,000 paid as earnest money upon signing. The balance of PHP 2.9 million must be paid by July 30, 2020, after which the seller will deliver the property and sign over ownership documents to the buyer. Failure to pay the balance will result in forfeiture of the earnest money. Transfer taxes and fees are the responsibility of the buyer.

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Aleezah Gertrude R Regado
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34 views4 pages

Contract To Sell

This document is a contract to sell a 50 sqm condominium unit located in San Juan City from seller Alex Regado to buyer Amy Vicencio. The total consideration is PHP 3.2 million, with PHP 300,000 paid as earnest money upon signing. The balance of PHP 2.9 million must be paid by July 30, 2020, after which the seller will deliver the property and sign over ownership documents to the buyer. Failure to pay the balance will result in forfeiture of the earnest money. Transfer taxes and fees are the responsibility of the buyer.

Uploaded by

Aleezah Gertrude R Regado
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:
 
        Alex S. Regado of legal age,  married to Emelie R. Regado , Filipino, and with residence
and postal address at  Blk 25 Lot 42 Gardens of Maia Alta Antipolo City, hereinafter referred
to as the "SELLER/VENDOR";
 
-AND-
 
        Amy Rose C. Vicencio Filipino and with residence and postal address at 9 Paez Ville
Subdivision, Dampalit Malabon City , hereinafter referred to as the "BUYER/VENDEE".
 
WITNESSETH;
 
        WHEREAS, a certain real estate property exclusively owned by the SELLER is
available for sale, and located at :

Tower 2, Unit 18-A, 180 Aurora Blvd. Brgy Ermitano, San Juan City, Metro Manila
Description: 50 SQM, Fully Furnished Condominium Unit
BRIEF TECHNICAL DESCRIPTION CTC NO 012-2017000854:
18 /F
TOWE 2- UNIT A CONSISTING OF FIFTY SQUARE METERS (50.00 SQM).), MORE OR
LESS, WHICH FORMS PART OF THE CONDOMINIUM UNIT KNOWN AS “SUNTRUST
AURORA GARDENS” 
       

WHEREAS, the BUYER/VENDEE has offered to buy and the SELLER


/VENDOR 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 Three Hundred
Thousand (Php: 300,000.00) Philippine Currency, and of the covenants herein after
set forth the SELLER/VENDOR  agrees to sell and the BUYER/VENDEE agrees to buy the
aforesaid property subject to the following terms and conditions: 
 
1. The total consideration shall be One Million  (Php: 3,200,000.00) PESOS, Philippine
Currency, payable as follows:

a. The amount of THREE HUNDRED THOUSAND (Php: 300,000.00) PESOS,


representing earnest money shall be payable by the BUYER/VENDEE to
the SELLER/VENDOR upon signing of this Contract to Sell;
b. After the payment of the said earnest money, the SELLER/VENDOR agrees to reserve
the said property in favor of the BUYER/VENDEES for a period of one month.
c. The remaining balance in the amount of TWO MILLION NINE HUNDRED
THOUSAND (Php: 2,900,000.00) PESOS, shall be paid in Cash on or before July 30,
2020.
d. Failure to pay the remaining balance would result to the forfeiture of 10% of the earnest
money paid, as a consideration for the reservation of the said property.
e. In case the check representing the payment for the balance provided in paragraph c
hereof, is dishonored by the drawee bank, the earnest money in the amount of THREE
HUNDRED THOUSAND (Php: 300,000.00) PESOS, shall be forfeited in favor of
the SELLER/VENDOR.

2. Capital Gains Tax and Real Estate Tax, shall be for the account of the BUYER/VENDEE;
 
3. Documentary Stamps Tax, Registration Fee, registration expenses, and all other miscellaneous
fees and expenses shall be to the account of the BUYER/VENDEE;
 
4. Possession to the subject property shall be delivered by the SELLER/VENDOR to
the BUYER/VENDEE upon full payment of the total consideration;
 
5. Upon full payment of the total price, the SELLER/VENDOR shall sign and execute a DEED
OF ABSOLUTE SALE in favor of the  BUYER/VENDEE. 
The SELLER/VENDOR 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/VENDOR to
the BUYER/VENDEE.
 
IN WITNESS WHEREOF, the parties have hereunto affixed their signatures, this ___ day of
____________, 20__ at ______________________, Philippines.
 
 
 (SELLER/VENDOR)                                (BUYER/VENDEE)
Name                                                       Name

 
WITH MARITAL CONSENT:

________________________                       _________________________


Name of Seller/Vendor's Spouse           Name of Buyer/Vendee's Spouse

 
SIGNED IN THE PRESENCE OF:
 
__________________________               ____________________________
 
 
ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)


_____________________________ )  SS.

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


appeared the following:
 
        Name                        CTC Number             Date/Place Issued
 

 
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 20__.

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