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    Agreement of Purchase and Sale Sale of Real Estate On Installment JLYN FORMAT

    Uploaded by

    Joanne Abejo
    This 3 page document is an agreement of purchase and sale between a seller and buyer of a property. It details the agreed upon purchase price and payment terms, with a down payment and balance to be paid in installments. It specifies that upon full payment, the seller will deliver a deed conveying the property to the buyer free of liens. The document also outlines responsibilities for taxes, consequences of late or missed payments, where payments should be made, that the agreement is binding to the parties and assigns, and costs if legal action is required to enforce the contract.

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

    Agreement of Purchase and Sale Sale of Real Estate On Installment JLYN FORMAT

    Uploaded by

    Joanne Abejo
    103 views3 pages
    This 3 page document is an agreement of purchase and sale between a seller and buyer of a property. It details the agreed upon purchase price and payment terms, with a down payment and balance to be paid in installments. It specifies that upon full payment, the seller will deliver a deed conveying the property to the buyer free of liens. The document also outlines responsibilities for taxes, consequences of late or missed payments, where payments should be made, that the agreement is binding to the parties and assigns, and costs if legal action is required to enforce the contract.

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    Agreement Of Purchase and Sale Sale of Real Estate on Installment JLYN FORMAT

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    This 3 page document is an agreement of purchase and sale between a seller and buyer of a property. It details the agreed upon purchase price and payment terms, with a down payment and balance to be paid in installments. It specifies that upon full payment, the seller will deliver a deed conveying the property to the buyer free of liens. The document also outlines responsibilities for taxes, consequences of late or missed payments, where payments should be made, that the agreement is binding to the parties and assigns, and costs if legal action is required to enforce the contract.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    103 views3 pages

    Agreement of Purchase and Sale Sale of Real Estate On Installment JLYN FORMAT

    Uploaded by

    Joanne Abejo
    This 3 page document is an agreement of purchase and sale between a seller and buyer of a property. It details the agreed upon purchase price and payment terms, with a down payment and balance to be paid in installments. It specifies that upon full payment, the seller will deliver a deed conveying the property to the buyer free of liens. The document also outlines responsibilities for taxes, consequences of late or missed payments, where payments should be made, that the agreement is binding to the parties and assigns, and costs if legal action is required to enforce the contract.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    of 3
    At a glance
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    The key takeaways from the document are that it outlines the terms and conditions of an agreement of purchase and sale of property between a seller and buyer.

    According to the agreement, the buyer is obligated to pay installments on time, pay all taxes and assessments on the property, and pay attorney fees and costs if the seller needs to take legal action.

    If the buyer fails to pay installments for three consecutive months, all their rights and interest in the property will cease and terminate, and all previous payments will be forfeited as damages.

    Agreement of Purchase and Sale - (2018)

    AGREEMENT OF PURCHASE AND SALE

    KNOW ALL MEN BY THESE PRESENTS:

    This AGREEMENT, made and entered into by and between (Full name of
    Vendor), single/widower/married to ………………… , of legal age,
    ………………. citizen, and resident of ……………………. , hereinafter called the
    SELLER, and (Full name of Vendee), single/widower/married to …………………
    , of legal age, ………………. citizen, and with residence and postal address at
    ………………….. , hereinafter called the BUYER.

    WITNESSETH:

    1. That, for and in consideration of the agreed purchase price of


    ……………………. PESOS (Php000,000.00), Philippine currency, of which the
    sum of ……………………. PESOS (Php000,000.00) has been paid by the
    BUYER upon the execution of this instrument and the balance to be paid within
    ……………. months (or years), by installment of not less than …………………….
    PESOS (Php000,000.00) due on or before the ………………….. day of
    …………… , 2020, with the improvements existing thereon, embraced in and
    covered by Transfer/Original Certificate of Title No. ……………………. , issued
    by the Registrar of Land Titles and Deeds of ………….…… , and more
    particularly described as follows:

    (Describe here the property)

    2. That, upon the payment of the total purchase price by the BUYER,
    the SELLER binds himself/herself to deliver to him/her a good and sufficient deed
    or sale and conveyance for the above-described property free and clear of all
    liens and encumbrances except such as may be subsisting by operation of law,
    the expenses for the transfer of the title to be defrayed by the BUYER;

    3. That the BUYER, to whom the possession of the property is


    deemed to be delivered by virtue of this contract, shall have the option to pay the
    entire balance of the purchase price at any time within the period stipulated;

    4. That all taxes and any special assessments imposed by the


    Government on the property, beginning with the year following actual delivery of
    possession, shall be for the account of the BUYER as if the property were his/her
    own, and if for any reason the payment thereof, including penalties, if any, shall
    have been advanced by the SELLER, the same shall be chargeable to the
    BUYER with interest thereon at the rate of 12% per annum;

    5. That in case the BUYER should fail to pay, when due, any of the
    monthly installments herein stipulated for three (3) consecutive months, all rights
    and interests of said BUYER, including the right of possession in and to the
    above-described property shall ipso facto cease and terminate, and all payments
    made by him/her prior to said default shall be deemed to be forfeited and waiver
    in favor of the SELLER in settlement of rents and liquidated damages, without
    prejudice to the right of the BUYER under Republic Act No. 6652: Provided, That
    the SELLER, upon evidence satisfactory to him/her that the failure of the BUYER
    to make any payment or payments has been due to sickness, unemployment, or
    other unavoidable cause, may at his/her discretion grant extension of the term to
    make such payment or payments, but in no case shall such extension so granted
    exceed a total period of ninety (90) days;

    Page 1 of 3
    Agreement of Purchase and Sale - (2018)

    6. That all payments due and payable under this contract shall be
    effected in the office of the SELLER, located at ………………………. unless
    another place shall have been subsequently designated by him/her in writing;

    7. That this agreement shall inure to the benefit of, and be binding
    upon, the parties hereto and their respective legal representatives and assigns,
    but the right of the BUYER by virtue hereof cannot be validly transferred,
    assigned, or encumbered to a third party without the prior written consent of the
    SELLER; and

    8. That, in case it shall become necessary for the SELLER to resort to


    Court for the enforcement of this contract, or for the re-possession of the property
    in case of termination of this agreement by reason of default, the BUYER shall be
    liable to pay the costs of suit, attorney’s fees, and other incidental expenses,
    which in no case shall be less than 20% of the balance of the purchase price
    then outstanding and unpaid aside from other obligations arising hereunder.

    IN WITNESS WHEREOF, the parties hereto have hereunto set their


    hands at Lapu-Lapu City, Philippines, on this 4th day of August, 2020.

    ……………………………. ……………………………
    Seller Buyer
    (TIN) (TIN)

    WITH MY MARITAL CONSENT:


    ……………………………………
    (Wife or Husband of Seller)
    (TIN)

    Signed in the Presence of:

    1. ____________________________
    2.______________________________

    ACKNOWLEDGMENT

    Republic of the Philippines)


    City of Lapu-Lapu )S.S.

    BEFORE ME, a Notary Public for and in the City of Lapu-Lapu, this 4th day
    of August, 2020, personally came and appeared:

    known to me and to me known to be the same person who executed the


    foregoing instrument, and she acknowledged to me that the same is her free and
    voluntary act and deed.

    The foregoing instrument relates to a AGREEMENT OF PURCHASE


    AND SALE consisting of three (3) pages including the page on which this

    Page 2 of 3
    Agreement of Purchase and Sale - (2018)

    acknowledgment is written, and has signed at the bottom and on the lefthand
    margin of the second page thereof, by the Vendors and their instrumental
    witnesses, and sealed with my notarial seal.

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

    Doc. No. _ ;
    Page No. _ ;
    Book No. _ ;
    Series of 20__.

    Page 3 of 3

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