CONTRACT TO SELL

KNOWN ALL MEN BY THESE PRESENTS:

This CONTRACT TO SELL, made and executed by and between:

JOAN W. IBASCO, of legal age, Filipino married to RAMON C. IBASCO, of legal age, Filipino
and both a resident of No, 1 Rosita King St., Barangay 4, Purok 4, Daet, Camarines Norte, hereinafter
referred to as the “SELLER”.

-and-

FAUSTINO T. TESORERO, JR, single, of legal age, Filipino and ARELL M. DIAZ, single, of
legal age, Filipino and both a resident of Block 1 Lot 13, Montefaro East Village, Carsadang Bago 2,
Imus, Cavite, hereinafter referred to as the “BUYER”.

WITNESSETH:

        WHEREAS, the SELLER is the absolute and registered owner of a parcel of land together with the
house improvements constructed thereon located at Block 31, Lot 2, Montefaro West Village, Barangay
Bucandala, Imus, Cavite, more particularly described in TRANSFER CERTIFICATE OF TITLE No. 057-
2014046188.

WHEREAS, the BUYER has offered to buy and the SELLER 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 TWO MILLION EIGHT HUNDRED
THOUSAND PESOS ( Php 2,800,000.00 ) Philippine Currency, and of the covenants herein after set
forth the SELLER  agrees to sell and the BUYER agrees to buy the aforesaid property subject to the
following terms and conditions:

1. The total consideration shall be TWO MILLION EIGHT HUNDRED THOUSAND PESOS (Php
2,800,000.00) Philippine Currency, payable as follows:
A) The amount SIXTY THOUSAND PESOS (Php 60,000.00) was paid last May 16, 2021 as Earnest
money of the BUYER to the SELLER,
B) The amount TWO MILLION SEVEN HUNDRED FORTY THOUSAND PESOS ( Php 2,740,000.00),
shall be paid by the BUYER to the SELLER through PAGIBIG Housing Loan;

2.     Capital Gains shall be for the account of the SELLER; 

3. Documentary Stamp, Transfer Tax, registration expenses, and all other miscellaneous fees and
expenses shall be to the account of the BUYER;

4.  Tax Clearance and receipts as proof of payment of real property taxes for the year 2021 shall
be to the account of the SELLER;

5. Possession to the subject property shall be delivered by the SELLER  to the BUYER  upon full
payment of TWO MILLION SEVEN HUNDRED FORTY THOUSAND PESOS (Php
2,740,000.00).

IN WITNESS WHEREOF, the parties have hereunto affixed their signatures, this ___ day of
____________, 20__ at _________________________, Philippines.
JOAN W. IBASCO FAUSTINO T. TESORERO, JR.
SELLER BUYER   

RAMON C. IBASCO ARELL M. DIAZ

SELLER/SPOUSE BUYER
   

SIGNED IN THE PRESENCE OF:

  __________________________               ____________________________

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

_____________________________ )  SS.

BEFORE ME, a Notary Public, this ____________day of ________________, personally appeared the
following:

 Name                               Competent Evidence of Identity                Date/Place Issued

JOAN W. WONG PAG-IBIG LOYALTY CARD

1530-0093-6331

RAMON C. IBASCO DRIVER’S LICENSE

License No. D16-95-121207
Expiry: 2024/01/27

FAUSTINO T. TESORERO, JR. PAG-IBIG LOYALTY CARD

1210-0447-6800
               
ARELL M. DIAZ PAG-IBIG LOYALTY CARD
1210-6118-8657
   
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 WHERE OF, I have hereunto set my hand the day, year and place above written. 

Notary Public
                               
Doc. No. ........;
Page No. .......;
Book No. .......;
Series of 20__.