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    Contract To Sell A Land

    Uploaded by

    nobaisah ati
    This document is a contract to sell a 304 square meter parcel of land located in Mahayahay, Iligan City from the seller, Faith, to the buyers, Poloy and Colli. The total sale price is PHP 2,800,000 to be paid in installments, with PHP 2,000,000 paid upfront and PHP 800,000 to be paid in monthly installments of PHP 100,000 for 8 months, starting on October 1, 2022. Upon full payment, the seller will sign a deed of absolute sale transferring ownership of the property to the buyers.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Contract To Sell A Land

    Uploaded by

    nobaisah ati
    79 views3 pages
    This document is a contract to sell a 304 square meter parcel of land located in Mahayahay, Iligan City from the seller, Faith, to the buyers, Poloy and Colli. The total sale price is PHP 2,800,000 to be paid in installments, with PHP 2,000,000 paid upfront and PHP 800,000 to be paid in monthly installments of PHP 100,000 for 8 months, starting on October 1, 2022. Upon full payment, the seller will sign a deed of absolute sale transferring ownership of the property to the buyers.

    Original Description:

    To sell a land with Conditional Agreement

    Original Title

    Contract to Sell a Land

    Copyright

    © © All Rights Reserved

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    This document is a contract to sell a 304 square meter parcel of land located in Mahayahay, Iligan City from the seller, Faith, to the buyers, Poloy and Colli. The total sale price is PHP 2,800,000 to be paid in installments, with PHP 2,000,000 paid upfront and PHP 800,000 to be paid in monthly installments of PHP 100,000 for 8 months, starting on October 1, 2022. Upon full payment, the seller will sign a deed of absolute sale transferring ownership of the property to the buyers.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    79 views3 pages

    Contract To Sell A Land

    Uploaded by

    nobaisah ati
    This document is a contract to sell a 304 square meter parcel of land located in Mahayahay, Iligan City from the seller, Faith, to the buyers, Poloy and Colli. The total sale price is PHP 2,800,000 to be paid in installments, with PHP 2,000,000 paid upfront and PHP 800,000 to be paid in monthly installments of PHP 100,000 for 8 months, starting on October 1, 2022. Upon full payment, the seller will sign a deed of absolute sale transferring ownership of the property to the buyers.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
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    The document details a conditional sale agreement between a seller and buyers for a 304 square meter property in Iligan City for PHP 2.8 million.

    The buyers will pay PHP 2 million upfront and PHP 800,000 in 8 monthly installments of PHP 100,000 each from October 2022 to May 2023 with 6% annual interest on the outstanding balance.

    Upon full payment, the seller will sign and execute an Absolute Deed of Sale in favor of the buyers and provide necessary documents like the Tax Declaration to transfer ownership.

    CONTRACT TO SELL

    KNOW ALL MEN BY THESE PRESENTS:

    This CONTRACT TO SELL, made and executed this ___ day of _____________, 2022 by
    and between:
     
            faith, of legal age, Filipino, and with residence and postal address at Iligan City,
    hereinafter referred to as the "SELLER ";
     
    -AND-
     
            Poloy and Colli, both of legal ages, Filipino citizens and a resident of Iligan City,
    hereinafter referred to as the "BUYERS ".
     
    WITNESSETH;
     
    WHEREAS, the SELLER is the legal owner of a parcel of land, untitled, without
    imrpvements, registered with Tax Declaration No. 012344567, containing an area of
    THREE HUNDRED FOUR (304) square meters, more or less, revised area per latest
    survey, located in Mahayahay, Iligan City and more particularly described as follows:

    ”A parcel of land Lot containing an area of THREE HUNDRED


    FOUR SQUARE METERS.”

    WHEREAS, the BUYERS 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 (Php 2,800,000.00) PESOS 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 (Php 2,800,000.00) PESOS, Philippine Currency, payable as
    follows:

    a) The amount of TWO MILLION (PHP 2,000,000.00) PESOS, in favor


    of the SELLER at Iligan City;

    b) The balance of EIGHT HUNDRED THOUSAND (PHP 800,000.00)


    PESOS shall be paid by the BUYER in equal monthly installments
    for eight (8) months at ONE HUNDRED THOUSAND PESOS per
    month (PHP 100,000/mo) for the account of the SELLER at Iligan
    City;

    c) The monthly installment payment shall start on October 1, 2022


    and every first day of the month thereafter until May 1, 2023;

    d) No improvements shall be made by the BUYER on the aforesaid


    property until full payment is completed and the ABSOLUTE
    DEED OF SALE shall have been executed by both parties;
    e) In the event that the BUYER shall fail to pay in anyone of the
    monthly installments or shall withdraw from proceeding with the
    sale, the SELLER may declare the BUYER in default and claim this
    CONDITIONAL SALE AGREEMENT to be null and void;

    f) On such event item 5, all payments received by the SELLER from


    the BUYER shall be returned at the earliest possible time but not
    more than 30 days from the date of cancellation and subject to 10%
    penalty of the total reimbursable amount;

    g) Condition addendum: The monthly installments will be subject to


    6% interest per annum or a monthly interest of FOUR
    THOUSAND PESOS per month (PHP 4,000/mo) starting October
    1, 2022 until completion of payment.

    2. The Capital Gains Tax and Real Estate Tax, as well as the Documentary
    Stamps Tax, Registration Fee, registration expenses, and all other miscellaneous
    fees and expenses shall be to the account of the BUYER;
     
    3. Possession to the subject property shall be delivered by the SELLER to
    the BUYER upon full payment of the total consideration;
     
    4. Upon full payment of the total price, the SELLER shall sign and execute
    a DEED OF ABSOLUTE SALE in favor of the BUYER. The SELLER shall
    likewise execute and/or deliver any and all documents, including but not limited
    to the, Tax Declaration and all other documents necessary for the transfer of
    ownership from SELLER to the BUYER.
     
    IN WITNESS WHEREOF, the parties have hereunto affixed their signatures, this
    _______ day of ___________________ at ______________, Philippines.
     
     

    Faith Poloy
    Seller Buyer

    Colli
    Buyer

     
    WITH MARITAL CONSENT:

    LOVELY
    Seller's Spouse           
    SIGNED IN THE PRESENCE OF:

     
    __________________________               ____________________________
     
     

    ACKNOWLEDGMENT

    REPUBLIC OF THE PHILIPPINES)


    _____________________________ )  SS.

    BEFORE ME, a Notary Public, this ____________day of ________________, personally


    appeared the following:
     
    Name                               ID Presented                Date/Place Issued
     

     
    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 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__.

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