CONTRACT TO SELL
KNOW ALL MEN BY THESE PRESENTS:
This CONTRACT TO SELL, made and executed this _______________________by and between:
_______________________, of legal age, Filipino, with residence and postal address at
_______________________, hereinafter referred to as the "VENDOR";
-AND-
_______________________, of legal ages, Filipinos, with residence and postal address at
_______________________ hereinafter referred to as the "VENDEE".
WITNESSETH;
WHEREAS, the VENDOR is the absolute owner of a _______________________, located at
_______________________ and covered by _______________________ issued by the Registry of
Deeds for _______________________;
WHEREAS, the VENDEE has offered to buy and the VENDOR 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 _______________________
Philippine Currency, and of the covenants herein after set forth the VENDOR agrees to sell and
the VENDEE agrees to buy the aforesaid property subject to the following terms and
conditions:
1. The total consideration shall be _______________________ Philippine Currency, payable as
follows:
a) The amount of _______________________ shall be payable by the VENDEE to
the VENDOR via CASH upon signing of this Contract to Sell, thereby affording the
Vendee _______________________of reservation period to present a signed and
authenticated _______________________ thirty (30) days should VENDEE require an
extension period to produce said bank loan approval or guarantee. The total
reservation fee shall be DEDUCTIBLE from the down payment upon successful
completion of a bank loan application within afforded period, but shall be forfeited in
favor of VENDOR in case of disapproval.
b) The _______________________from a guarantee or approval issued by
_______________________, applied for and with which VENDEE is currently employed
with, shall be payable by the VENDEE to the VENDOR via CHEQUE / CASH IN
FULL.
c) The NET AMOUNT for the total consideration after considering the approved bank
loan proceeds, as DOWN PAYMENT shall be payable by the VENDEE to
the VENDOR via CASH to be computed as follows;
d) The Vendor upon receipt of the DOWN PAYMENT shall undertake, bear and assume
all costs to immediately and in swift fashion repair and restore all areas and aspects of
said unit from roof to floor, to the satisfaction of VENDEE, as agreed upon in close
inspection before signing this instrument;
2. Upon full payment of the DOWNPAYMENT, the VENDOR shall sign and execute a DEED
OF ABSOLUTE SALE in favor of the VENDEE to facilitate the release of the approved bank
loan herein aforementioned.
3. The Vendor further shall bear and assume all costs, payments, and expenditures in
securing, processing and transferring ownership of _______________________from the
VENDOR to the VENDEE , based on fair market value and zonal value of the property,
and following all existing Philippine Laws.
4. The VENDEE however shall bear the amount needed for the Transfer Tax required in
transferring the Tax Declaration concerning the said property.
IN WITNESS WHEREOF, the parties have hereunto affixed their signatures, this 10th day of
October 2019 at Quezon City, Philippines.
(VENDOR)
(VENDEE)
SIGNED IN THE PRESENCE OF:
__________________________ ____________________________
ACKNOWLEDGMENT
REPUBLIC OF THE PHILIPPINES)
_____________________________ ) SS.
BEFORE ME, a Notary Public, this ____________day of ________________, personally appeared
the following:
Name CTC Number Date/Place Issued
_______________ _______________________________
This instrument, consisting of 3 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.
IN WITNESS WHEREOF, I have hereunto set my hand the day, year and place above written.
Notary Public
Doc. No. ........;
Page No. .......;
Book No. .......;
Series of 20__.
