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General Rule: Tax Base Is Contract Price or Zonal Valuation Price, Whichever Is Higher. Final Figures Will Be Determined by The BIR, Assessor's Office and Registry of Deeds

This document outlines the closing costs for the sale of a 73 sqm condominium unit from seller Jose Luis Campos to buyer Dr. Juancho Remulla for 15.6 million pesos. It details the capital gains tax, documentary stamp tax, transfer tax, registration fee, and other costs to be paid by both buyer and seller. It also shows that 687,096.77 in advanced rent payments made by the buyer will be deducted from the net payout to the seller. Both parties and their brokers have signed to acknowledge the terms.

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Alexis Anne P. Arejola
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27 views

General Rule: Tax Base Is Contract Price or Zonal Valuation Price, Whichever Is Higher. Final Figures Will Be Determined by The BIR, Assessor's Office and Registry of Deeds

This document outlines the closing costs for the sale of a 73 sqm condominium unit from seller Jose Luis Campos to buyer Dr. Juancho Remulla for 15.6 million pesos. It details the capital gains tax, documentary stamp tax, transfer tax, registration fee, and other costs to be paid by both buyer and seller. It also shows that 687,096.77 in advanced rent payments made by the buyer will be deducted from the net payout to the seller. Both parties and their brokers have signed to acknowledge the terms.

Uploaded by

Alexis Anne P. Arejola
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
You are on page 1/ 2

Closing Costs

Buyer: Dr. Juancho Remulla


Seller: Jose Luis Campos

Property: Unit 9L Amorsolo Square, West Tower


Size: 73 sqm with 1 parking slot
Asset type: Capital
General rule: Tax base is Contract Price or Zonal Valuation Price, whichever is higher. Final figures will be
determined by the BIR, Assessor’s Office and Registry of Deeds.

Contract Price (CP): 15,600,000.00


Zonal Valuation Price: 15,327,500.00
Item Php per sqm Size Amount (Php)
Unit 180,000 73 13,140,000.00
Parking Slot (1) 175,000 12.5 2,187,500.00
[250,000*70%]
Total 15,327,500.00

Breakdown of Payments:
1. Seller’s Account
Item Amount (Php) Payee Mode of Payment /
Payor
Earnest Money 500,000.00 Jose Luis Campos Manager’s Check /
(**paid** January 3, Buyer **paid**
2019)
Capital Gains Tax 936,000.00 Development Bank of Manager’s Check /
(6% based on CP) The Philippines FAO Buyer
Bureau of Internal
Revenue FAO Jose Luis
Campos 211-031-026-
000
Total Deductible from 687,096.77 n/a n/a
advanced rent (9 and
14/31 months advance
plus 2 months security
deposit*)
Net Payout to Seller 13,476,903.23 Jose Luis Campos Manager’s Check /
(From CP) Buyer
Total 15,600.000 n/a n/a

2. Buyer’s Account
Item Amount (Php) Payee Mode of Payment /
Payor
Documentary Stamp 234,000.00 Development Bank of Manager’s Check /
Tax (1.5% based on CP) the Philippines FAO Buyer
Bureau of Internal
Revenue FAO Juancho
Francisco Remulla 111-
234-850-000

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Closing Costs
Buyer: Dr. Juancho Remulla
Seller: Jose Luis Campos

Transfer Tax (0.6% 93,600.00 City Treasurer of Manager’s Check/


based on CP) Makati City Buyer
Registration Fee (0.48% 74,880.00 Registry of Deeds Manager’s Check/
based on CP) Makati City Buyer
IT Fee and Notarial Fee 10,000.00 Cash / Buyer
(based on fixed
amounts)
Transfer 20,000.00 Cash / Buyer
Service/Processing Fee
(based on fixed
amounts)

*computation for the advanced rent to be considered as deduction from net payout to seller:
a. Schedule of Rent Payments – Lease Contract for period November 3, 2018 to November 2, 2019
Start Date End Date Accrues to Seller (Php) Accrues to Buyer
(Php)
November 3, 2018 December 2, 2018 60,000 -
December 3, 2018 January 2, 2019 60,000 -
January 3, 2019 January 19, 2019 32,903.23 -
January 20, 2019 February 2, 2019 - 27,096.77
February 3, 2019 March 2, 2019 - 60,000
March 3, 2019 April 2, 2019 - 60,000
April 3, 2019 May 2, 2019 - 60,000
May 3, 2019 June 2, 2019 - 60,000
June 3, 2019 July 2, 2019 - 60,000
July 3, 2019 August 2, 2019 - 60,000
August 3, 2019 September 2, 2019 - 60,000
September 3, 2019 October 2, 2019 - 60,000
October 3, 2019 November 2, 2019 - 60,000
Total, Seller 152,903.23
Total, Buyer 567,096.77
b. Security Deposit = 2 months x 60,000 = Php 120,000
c. Total deductible from advanced rent = Php 687,096.77

Noted by:

________________________ ________________________
Jose Luis Campos Dr. Juancho Remulla
Seller Buyer

Received By:

________________________ ________________________
Rosinie Suico Nicolo Toledo
Seller’s Broker Buyer’s Broker

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