Sample Contract to Sell

[Note: The following is a sample Contract to Sell. However, please consult with a legal professional to ensure compliance with current laws and regulations, as well as to customize the contract to specific circumstances.]

CONTRACT TO SELL

KNOW ALL MEN BY THESE PRESENTS:

This Contract to Sell, made and executed on this ____ day of _______, 20, by and between:

SELLER: Name: [Seller’s Full Name] Citizenship: Filipino Civil Status: [Married/Single/Widowed], of legal age Residential Address: [Complete Residential Address] Tax Identification Number (TIN): [TIN Number]

And

BUYER: Name: [Buyer’s Full Name] Citizenship: Filipino Civil Status: [Married/Single/Widowed], of legal 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, particularly described as follows:

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

WHEREAS, the BUYER has expressed an 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:

Purchase Price: The total purchase price for the property is [Purchase Amount in words and figures] Philippine Pesos (PHP ________), payable as follows:a. A down payment of [Down Payment Amount in words and figures] Philippine Pesos (PHP ________), to be paid upon the signing of this Contract to Sell; b. The balance of [Balance Amount in words and figures] Philippine Pesos (PHP ________), to 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 in full.
Reservation Fee: The BUYER has paid a reservation fee of [Reservation Fee Amount in words and figures] Philippine Pesos (PHP ________), which forms part of the down payment and is non-refundable in case of default by the BUYER.
Transfer of Ownership: The SELLER shall transfer the ownership of the property to the BUYER upon the full payment of the purchase price.
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.
Possession of the Property: The BUYER shall take possession of the property upon the full payment of the purchase price.
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.
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: ___________________