CONTRACT TO SELL

This Contract to Sell (hereinafter referred to as the “Contract”), entered into this
___________, at _________, Metro Manila, by and between:

[NAME OF SELLER(S) HERE], both of legal age, Filipinos,

with address at [address here] (hereinafter referred to as the
“SELLERS”).

The SELLERS are herein represented by its duly authorized

attorney-in-fact, [IF THERE IS ANY], through an Irrevocable
Special Power of Attorney for [Name of Seller]1;

-and-

[NAME OF BUYER(S) HERE], of legal age, Filipino, single,

with address at [address here] (hereinafter referred to as the
“BUYERS”);

WITNESSETH That:

WHEREAS, the SELLERS are the absolute and registered owner of a one (1) bedroom
condominium unit located at [unit/floor/project name] with a floor area of [state here] square
meters, covered by Condominium Certificate Title (CCT) No. [enter CCT number here] 2; and a
solo parking slot located at [slot/floor/project name] with an area of [state here] square meters
covered by Condominium Certificate Title (CCT) No. [enter CCT number here] 3; 4.

Both the condominium unit and the solo parking slot are collectively referred to as the
“Property”;

WHEREAS, the SELLERS have offered to sell the Property and the BUYER has
expressed his intention to accept the offer;

WHEREAS, the Property is under a Home Loan with [bank name] with Loan Account
Number [enter account number here] and CASA Number [enter here], maturing on [date here]
(the “[Bank Name] Loan”);

WHEREAS, the parties intend to enter into a Contract to Sell in order to reserve the sale
of the Property in favor of the BUYER;

NOW, THEREFORE, consistent with the foregoing, the parties have hereby agreed as
follows:

I.
THE PROPERTY

Condominium Unit at the [Project Name]

Level
Unit
Type
Area

-and-

1
A copy of the Irrevocable Special Power of Attorney for [Seller] is attached as ANNEX “A”.
2
A copy of CCT No. No. [CCT number here] is attached as ANNEX “B”.
3
A copy of CCT No. No. [CCT number here] is attached as ANNEX “B”.
4
A copy of CCT No. No. [CCT number here] is attached as ANNEX “C”.

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 Parking slot at the [Project Name]
Level
Slot
Type
Area

II.
THE RESERVATION FEE

2.1. The Reservation Fee of [AMOUNT HERE] PESOS (PX,000,000.00) shall be

paid by the BUYER upon the signing of this Contract, the receipt of which is
acknowledged by the SELLERS. The Reservation Fee shall be deducted from the
total purchase price/Final payment.

2.2. The SELLERS undertake to remove any advertisements for sale, offer to sell,
social media posts, and the like on the Property.

2.3. The SELLERS undertake to settle the [BANK NAMEX Loan after the BUYER
pays the amount required for its full settlement, which shall also be deducted
from the total purchase price/Final payment.

2.4. The SELLERS undertake to pay for the [YEAR] tax payments, latest dues/fees
on the Property, and all other obligations involving the Property immediately
upon execution of this Contract. Aside from the [BANK NAME] Loan, all other
obligations involving the Property shall be for the account of the SELLERS.

2.5. The SELLERS agree to return to the BUYER, the Reservation Fee and the
amount of the [BANK NAME] Loan paid by the BUYER, in full and without
penalty or interest, in the event that the BUYER present a justifiable reason for
the non-purchase of the Property.

2.6. Justifiable reasons include, but not limited to:

a. Force majure;
b. The Property is unavailable for sale without fault on the part of the
SELLERS;
c. Destruction of the Property without fault on either party;
d. Failure of the BUYER to receive the titles to the Property, free from
all liens and encumbrances, within thirty (30) days from full payment
of the [BANK NAME] Loan;
e. All obligations on the Property are not settled within a reasonable
period of time (i.e. three [3] months) from the signing of this
Contract;
f. Other similar circumstances.

2.7. The BUYER agrees to forfeit the Reservation Fee in the event of his unjustified
refusal to purchase the Property, provided that the SELLERS show proof that all
obligations involving the Property has been settled, and the titles on the Property
is in their possession, free from all liens and encumbrances.

2.8. The SELLERS shall return the Reservation Fee and the amount of the CBC Loan
to the BUYER, with additional damages and the reimbursement of costs incurred
by the BUYER, if any, in the event that the SELLERS refuse to sell the Property
and execute the Deed of Absolute Sale upon written demand of the BUYER. The
additional damages shall not be less than Ten Percent (10%) of the total amount
paid by the BUYER for the Property at the time of demand and shall incur
interest of Ten Percent (10%) per annum.

2.9. Other than the [BANK NAME] Loan, the settlement of loans, where the Property
is used as a guarantee or mortgage, shall be paid by the SELLERS in order to

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 free the Property from all liens and encumbrances before the execution of the
Deed of Absolute Sale.

2.10. The SELLERS agree to allow the BUYER to take possession of the Property and
conduct inspection, renovations, and other works on the Property upon signing of
this Contract.

III.
THE DEED OF ABSOLUTE SALE

3.1. The parties agree to execute the Deed of Absolute Sale after the full settlement of
the obligation of the SELLERS described under Section 2 above.

3.2. The total purchase price for the Property shall be [AMOUNT HERE] PESOS
(PXX,000,000.00), LESS the Reservation Fee, the [BANK NAME] Loan, and
other fees paid by the BUYER in order to free the Property from all liens and
encumbrances (the “Final Payment”).

3.3. The Final Payment shall be paid upon the release of the Condominium Certificate
Title (CCT) No. [CCT No. here] and Condominium Certificate Title (CCT) No.
[CCT No. here] free from all liens and encumbrances to the BUYER and signing
of the Deed of Absolute Sale;

3.4. The capital gains tax, commissions or fees of real estate brokers or agents shall
be paid by the SELLERS, while the documentary stamp tax, registration fee,
notarial fee, transfer fee and other expenses for registration shall be for the
account of the BUYER.

3.5. The SELLERS warrant and represent that:

3.5.1. They have a valid title to, and peaceful possession of the Property and
that the same is absolutely free from all liens and encumbrances, claims
of any creditor or any third party and it is neither the subject of, nor
involved in, any case pending before the courts and administrative
bodies, nor is there any pending or threatened assessment, dispute or
claim concerning any tax liability or unpaid fees, dues to any government
authority;

3.5.2. They have not previously assigned, sold, or otherwise disposed of or

alienated to any person the Property, and that the same is not under any
option to sell or purchase, rights of first refusal to purchase, or any
similar arrangement;

3.5.3. They have full power, authority and legal right to execute, deliver and
perform their obligations under the Deed of Absolute Sale and other
documents pertaining to the Property and has taken all necessary
individual and corporate action and approval, if any, to authorize the
sale;

3.5.4. On signing of the Deed of Absolute Sale, they have paid and settled the
latest association dues, realty taxes, and all other taxes, fees and dues for
the year 2022 on the Property. Any outstanding balance shall be for the
exclusive account of the SELLERS;

3.5.5. They undertake to defend, settle, or litigate, at their own expense, the full
ownership of the BUYER to free it from all liens and encumbrances even
after the consummation of the sale against all those who would bring any
action against the BUYER relating to the representations and warranties
of the SELLERS;

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 3.5.6. The SELLERS undertake to execute any additional documents and do
the necessary actions to complete the rights, interests, ownership,
participation and title of the BUYER in the Property so that it may be
registered in the name of the BUYER in accordance with the provisions
of the Land Registration Act.

3.6. The title to and absolute ownership of the Property shall transfer from the
SELLERS to the BUYER immediately upon signing of the Deed of Absolute
Sale;

3.7. Simultaneous with the execution of the Deed of Absolute Sale, the SELLERS
shall turn over to the BUYER, original copies of the following documents:

3.7.1. Original copies of the Condominium Certificate of Titles in the name of

the SELLERS covering the Property;
3.7.2. Original copies of the latest Tax Declarations covering the Property in
the name of the SELLERS;
3.7.3. Official Receipts of payments of loans, obligations, mortgages, or similar
guarantees involving the Property;
3.7.4. Original copies of the Real Property Tax Clearance and Official Receipts
covering the payments of realty taxes for the last three (3) years on the
Property;
3.7.5. Original copies of the Official Receipt/Acknowledgment Receipt issued
by the SELLERS in favor of the BUYER for the purchase price received
by the BUYER;
3.7.6. Taxpayer’s Identification No. (TIN) of the SELLERS;
3.7.7. Photocopy of two (2) government issued ID of the SELLERS with two
specimen signatures therein;
3.7.8. Certificate of Non-delinquency from the [Project Name] administration;
3.7.9. Certificate of Management from the [Project Name] administration;
3.7.10. Other documents and papers which are necessary for the transfer of
ownership of the Property;

IN WITNESS WHEREOF, the parties have hereunto affixed their respective signatures
on the date and at the place first above written.

Seller and duly authorized representative Buyer

of (Husband/Wife’s Name)

Signed in the presence of:

________________________ ________________________

ACKNOWLEDGMENT

Republic of the Philippines )

__________________ )S.S

BEFORE ME, a Notary Public for and in the above indicated jurisdiction, personally
appeared on this ____ day of __________, the persons below listed exhibiting to me competent
proof of their identities the details of which are indicated alongside their respective names as
follows:

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 Name Proof of Identity

known to me and to me known to be the same persons who executed the foregoing instrument,
which instrument consists of ____ (_) pages, including that on which this acknowledgment is
written, and annex(es) attached thereto, signed by them and their instrumental witnesses on all of
the pages thereof, and which instrument they acknowledged before me is their free and voluntary
act and deed.

WITNESS MY HAND AND SEAL on the date and at the place first above written.

Doc. No. _____;

Page No. _____;
Book No. _____;
Series of ____.