Contract To Sell Template

CONTRACT TO SELL
This Contract to Sell (this “Contract”) is made and entered into this ___ day of _____________ 2023,
in _____,_____, by and between:
[OWNER/OWNERS], Filipinos, and all with residence and postal address at

[ADDRESS], and hereinafter collectively referred to as the “SELLER/S”;
in favor of:
TOTALPOWER INC., a corporate entity duly organized and existing under the laws
of the Republic of the Philippines with principal place of business located at Unit 201
Alabang Business Tower, 1216 Acacia Avenue, Madrigal Business Park, Alabang,
Muntinlupa City represented by its Chairman/CEO, Juanito C. TAN, Jr., hereinafter
referred to as the “BUYER”.
(Each, a “Party”, and collectively, the “Parties”)
Recitals:
(a) The SELLERS are the registered owners of a parcel of land identified as Lot [___]situated in
[________], with a total area of [_______(000.00)] square meters, more or less, and which is
more particularly described in, and covered by, Certificate of Title (“TCT”) No. [_____] (the
“Land”) issued by the Register of Deeds for [______].
A copy of TCT No. [____] is attached as Annex “A” hereof and made integral part of this
Contract;
(b) The BUYER has offered to buy, and the SELLERS have agreed to sell, the Land, subject to
the terms and conditions hereinafter set forth;
NOW, THEREFORE, for and in consideration of the foregoing premises and the mutual covenants
herein contained, the Parties hereby agree as follows:
1. The total consideration for the sale of the Land shall be [________] Pesos (Php0000.00) (the
“Purchase Price”), payable as follows:
(a) The sum of [________] Pesos (Php0000.00) (the “Down Payment”) shall be paid
within 15 days after the signing of this Contract, and submission by the SELLERS of
the following documents:
(i) Original Owner’s Duplicate Certificate of Title over the Land;

(ii) Original Tax Declaration over the Land;
(iii) Latest official receipts for realty tax payment, over the Land;
(iv) Tax Clearance covering the Land;
(v) Affidavit on Non-Tenancy covering the Land; and
(vi) Certificate of “No Improvement”.
(vii) Permit to Enter the LAND to conduct technical due diligence.
(b) SECOND PAYMENT: The sum of [________] Pesos (Php0000.00) shall be paid after 90
days from the receipt of the DOWN PAYMENT provided that the BUYER shall have
concluded its due diligence investigation on LAND within the 90-day period.
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(c) The amount of [________] Pesos (Php0000.00) shall be paid after 90 days from
receipt of the SECOND PAYMENT upon the happening of the following:
(i) Submission of signed and notarized Deed of Extrajudicial Settlement with

Absolute Sale over the Land;
(ii) Submission of the PSA Death Certificates of all deceased owners/heirs;
(iii) Submission of the competent evidences of identity of all owners/heirs with
BIR TIN;
(iv) Such other documents and/or certificates as may be necessary to complete
the registration of the sale and transfer of title to the Land to the BUYER. For
this purpose, the SELLERS shall execute and deliver to the BUYER such
documents and/or certificates as may be required by law for the settlement
and payment of the estate tax due; and
(v) Delivery of full physical possession of the subject property by the SELLERS
to the BUYER.
2. Conditional sale. The BUYER shall automatically be considered full owner of the subject
Land upon the payment of the full amount/consideration stated herein regardless of the
existence or non-existence of a deed of sale over the subject property.
3. Tax. It is hereby mutually agreed that the capital gains tax (CGT) and documentary stamps
tax (DST) due on the sale of the Subject Property shall be for the account of the SELLER and
the BUYER, respectively.
BUYER agrees to shoulder all necessary taxes for the transfer of the title over the subject
property to his name.
4. Warranty. The SELLERS warrant that the Land is free from any and all encumbrances of
whatever nature as of date of this Contract, and guarantees the BUYER’s peaceful use,
possession and enjoyment of the Land. On or before the delivery of the Land to the BUYER,
the SELLERS shall relocate any and all informal settlers, if any, on the Land. SELLERS shall
shoulder any and all expense in relation to the delivery of full physical possession to the
BUYER.
5. The SELLERS further warrant that they are not engaged, or habitually engaged, in the
business of buying and/or selling real properties, and that the Land is not offered for sale or
lease to the general public in the ordinary course of business.
6. Remedy. In the event title to the property cannot be transferred to the BUYER without fault on
the latter or an interest adverse to the SELLERS successfully secures a decision over the
subject property to the prejudice of the BUYER, SELLERS agree to reimburse BUYER of all
payments made with interest of twelve percent (12%) per annum computed from receipt of
the said amounts until fully paid. BUYER shall also have the option to acquire any allowable
beneficial use of the property for a period equivalent to the amounts paid, at the BUYER’s
option.
IN WITNESS WHEREOF, the Parties have signed this Contract on the date and at the place
first written above.
[OWNER/S]
SELLER
By:
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Contract To Sell Template

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CONTRACT TO SELL

[OWNER/OWNERS], Filipinos, and all with residence and postal address at

(Each, a “Party”, and collectively, the “Parties”)

(i) Original Owner’s Duplicate Certificate of Title over the Land;

(i) Submission of signed and notarized Deed of Extrajudicial Settlement with

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