CONTRACT TO SELL

THIS AGREEMENT is made and executed on this ____ day of _____, 20, by and between:

SELLER:

  • Name: [Seller’s Full Name]
  • Citizenship: Filipino
  • Civil Status: [Married/Single/Widowed]
  • Age: [Age]
  • Residential Address: [Complete Residential Address]
  • Tax Identification Number (TIN): [TIN Number]

BUYER:

  • Name: [Buyer’s Full Name]
  • Citizenship: Filipino
  • Civil Status: [Married/Single/Widowed]
  • Age: [Age]
  • Residential Address: [Complete Residential Address]
  • Tax Identification Number (TIN): [TIN Number]

Collectively referred to as the “PARTIES.”

WITNESSETH, that:

WHEREAS, the SELLER is the absolute and registered owner of a certain real property situated in the City/Municipality of [City/Municipality], Province of [Province], Philippines, described as follows:

Insert Property Description here, including title information, lot number, boundaries, and technical details as per the Transfer Certificate of Title or Tax Declaration.

WHEREAS, the BUYER has expressed interest in purchasing the said property, and the SELLER has agreed to sell the same under the terms and conditions herein stipulated;

NOW, THEREFORE, for and in consideration of the mutual covenants and agreements contained herein, the Parties hereby agree as follows:

1. Purchase Price:

  • The total purchase price is [Purchase Amount in words and figures] Philippine Pesos (PHP ________).
  • A down payment of [Down Payment Amount in words and figures] Philippine Pesos (PHP ________) is payable upon signing this Contract to Sell.
  • The balance of [Balance Amount in words and figures] Philippine Pesos (PHP ________) shall be paid in [Number of Installments] equal monthly installments of [Monthly Installment Amount in words and figures] Philippine Pesos (PHP ________) each, starting on [Commencement Date], and on the same date of each succeeding month until the full balance is paid.

2. Reservation Fee:

  • The BUYER has paid a non-refundable reservation fee of [Reservation Fee Amount in words and figures] Philippine Pesos (PHP ________), which forms part of the down payment.

3. Transfer of Ownership:

  • The SELLER shall transfer ownership of the property to the BUYER upon full payment of the purchase price.

4. Documentary Requirements:

  • The Parties shall jointly prepare and execute all necessary documents, including but not limited to a Deed of Sale, Certificate Authorizing Registration (CAR), and other instruments required by the Register of Deeds for the transfer of ownership.

5. Possession of the Property:

  • The BUYER shall take possession of the property upon full payment of the purchase price.

6. Default:

  • In the event of default by the BUYER in the payment of any installment, the SELLER shall have the right to cancel this Contract to Sell and retain all amounts paid by the BUYER as liquidated damages.

7. Governing Law:

  • This Contract to Sell shall be governed by and construed in accordance with the laws of the Republic of the Philippines.

IN WITNESS WHEREOF, the PARTIES have hereunto set their hands on the date and place first above written.

[Seller’s Full Name and Signature] Seller

[Buyer’s Full Name and Signature] Buyer

SIGNED IN THE PRESENCE OF:

[Witness 1 Name and Signature] Address: ___________________

[Witness 2 Name and Signature] Address: ___________________