The Contract For Buying A House From Owner is a crucial legal document used in Philippine real estate transactions where property is sold directly by the owner to a buyer without the involvement of a real estate development company. This agreement is essential for ensuring a legally binding and properly documented property transfer that complies with Philippine property laws and regulations. It should be used whenever a private individual is selling their residential property to another party, whether for cash or installment payments. The document includes comprehensive details about the property, parties involved, payment terms, warranties, and specific requirements under Philippine law such as tax declarations and title transfer procedures. It's particularly important in the Philippine context where property transactions must adhere to strict legal requirements including notarization and registration with appropriate government authorities. The contract serves as the primary reference document for the transaction and is required for official title transfer at the Registry of Deeds.
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1. Parties: Identification of the Seller and Buyer with complete legal names and addresses
2. Background: Context of the sale and brief description of the property being sold
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Description: Detailed legal description of the property including lot number, boundaries, and title details
5. Purchase Price: The agreed purchase price and payment terms including deposit and balance payment arrangements
6. Payment Terms: Detailed breakdown of payment schedule, method of payment, and consequences of default
7. Title and Ownership: Warranties regarding clean title, ownership rights, and process of title transfer
8. Conditions Precedent: Conditions that must be met before the sale can proceed
9. Representations and Warranties: Declarations by both parties regarding their capacity to enter into the agreement and state of the property
10. Taxes and Expenses: Allocation of responsibility for transfer taxes, registration fees, and other transaction costs
11. Possession and Risk: Terms regarding transfer of possession and risk to the property
12. Default and Remedies: Consequences of breach and available remedies for both parties
13. Governing Law: Specification of Philippine law as governing law and jurisdiction
14. Execution: Signature blocks and notarization requirements
1. Mortgage Contingency: Used when the purchase is contingent on the buyer obtaining mortgage financing
2. Tenant Rights: Required if the property is currently occupied by tenants
3. Property Inspection: Details of inspection requirements and procedures if not completed prior to contract
4. Fixtures and Fittings: List of items included/excluded in the sale if not standard
5. Environmental Matters: Required if property has known environmental issues or is in an environmentally sensitive area
6. Construction Completion: Used for properties under construction or requiring specific renovations before sale
7. Third Party Rights: Required if there are existing easements, rights of way, or other third-party interests
8. Force Majeure: Optional clause for extraordinary circumstances that might affect completion
1. Schedule A - Property Details: Comprehensive technical description of the property including lot plans and technical specifications
2. Schedule B - Title Documents: List of all title documents and certified true copies
3. Schedule C - Payment Schedule: Detailed breakdown of payment terms including amounts and due dates
4. Schedule D - Property Inventory: Inventory of fixtures, fittings, and other items included in the sale
5. Schedule E - Outstanding Matters: List of any encumbrances, liens, or other matters affecting the property
6. Schedule F - Required Permits: List of necessary permits and certificates for the property transfer
7. Appendix 1 - Property Photos: Recent photographs of the property and its major features
8. Appendix 2 - Tax Certificates: Current real property tax certificates and clearances
9. Appendix 3 - Survey Plans: Official survey plans and technical descriptions
Authors
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Legal Services
Financial Services
Property Development
Construction
Banking
Insurance
Public Sector
Notarial Services
Relevant Teams
Legal
Real Estate
Property Management
Compliance
Risk Management
Documentation
Finance
Operations
Administration
Customer Relations
Relevant Roles
Real Estate Lawyer
Property Manager
Real Estate Broker
Legal Counsel
Conveyancing Officer
Title Examiner
Mortgage Officer
Real Estate Analyst
Compliance Officer
Property Assessor
Notary Public
Legal Administrator
Real Estate Transaction Coordinator
Risk Management Officer
Documentation Specialist
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