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Ruby_CONTRACT-TO-SELL-with-earnest-money

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15 views

Ruby_CONTRACT-TO-SELL-with-earnest-money

Uploaded by

Nathalie Quinones
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 is made and executed and entered into by:

________________, of legal age, Filipino citizen and residents of Davao


City, hereinafter referred to as the SELLER;

-AND-

______, of legal age, Filipino, single/married to Name of Spouse


of Buyer and with residence and postal address at
_______________, hereinafter referred to as the BUYER;

WITNESSETH;

WHEREAS, the SELLER is the registered owner of a parcel of land


more particularly described as:

1. TCT No. T-289872


Lot No. 297-E-4-A; Psd-11-057064
Lot Area: 2,147 square meters

2. TCT No. T-289873


Lot No. 297-E-4-B; Psd-11-057064
Lot Area: 4,000 square meters

3. TCT No. T-289874


Lot No. 297-E-4-D; Psd-11-057064
Lot Area: 3,853 square meters

WHEREAS, the BUYER has offered to buy and the SELLERS have
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 TWO


MILLION PESOS ONLY (P2,000,000.00) Philippine Currency, and of the
covenants herein after set forth the SELLERS agree to sell and the BUYER
agree to buy the aforesaid property subject to the following terms and
conditions:

1. The total consideration shall be TWO MILLION PESOS ONLY


(P2,000,000.00) Philippine Currency, payable IN CASH as follows:

1.1. The amount of ONE MILLION (P1,000,000.00) representing


earnest money deposit shall be payable upon execution of this
Contract to Sell and shall be considered part of the total
Contract price.

1.2. The remaining balance amounting to THE REMAINING


BALANCE (P0,000,000.00) PESOS Philippine Currency, shall be
payable within TIME FRAME upon execution of this Contract to
Sell.

1.3. In case the BUYERS could not fulfil any of their obligation
stated in this Contract To Sell, the earnest money shall be
forfeited in favor of the SELLER.

1
2. Al pending utility bills, if any, Real Estate Tax up to the time of sale,
Capital Gains Tax, Documentary Stamp Tax, shall be for the account
of the SELLER.

3. Notarization fees, Registration Fee, Transfer Fees and all


miscellaneous fees and expenses to transfer the certificate of title in
the name of the new owner shall be for the account of the SELLER;

4. Possession to the subject property shall be delivered by the SELLER


to the BUYER upon full payment of the total consideration;

5. ADDITIONAL TERMS AND CONDITIONS SUCH AS Delivery of the


property shall be given by the SELLER to the BUYER devoid of any
religious artefacts, personal belongings and effects, tenants and any
toxic/radioactive substances. Etc.

6. TERMS AND CONDITIONS MAY VARY ON A CASE-TO-CASE BASIS.


CONTRACTING PARTIE MAY ADD, SUBTRACT, EDIT, ANY OR ALL
PARTS OF THIS CONTRACT TO SELL AS THEY SEE FIT.

7. Upon full payment of the total price, the SELLER shall sign and
execute a DEED OF ABSOLUTE SALE in favour of the BUYER. The
SELLER 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 to the BUYER.

8. In case the SELLER could not fulfil any of the obligations stated in
this Contract to Sell, the BUYER shall be entitled to a full refund plus
10% interest per month.

IN WITNESS WHEREOF, the parties have hereunto affixed their


signatures, this _____ day of _______________________ 20________ at
___________________________________, Philippines.

____________________________ ____________________________
SELLER BUYER

SIGNED IN THE PRESENCE OF: ______________________


________________________

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)


City of Davao ) SS.

BEFORE ME, a Notary Public for and in


_________________________________________ personally appeared:

Name ID Number
Date/Place Issued

2
Known to me and to me known to be the same persons who executed the
foregoing instrument and acknowledged to me that the same are their free
act and voluntary deed.

This instrument, consisting of 2 pages, 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.

WITNESS MY HAND AND SEAL on this ______day of


____________________20__________ at_____________________________.

Doc. No. ……..;


Page No. …….;
Book No. …….;
Series of 2021.

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