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Contract To Sell

This 3 page contract details the agreement between a Vendor and Vendee for the sale of a parcel of land. The Vendor agrees to sell and the Vendee agrees to buy the property for a total price to be paid in installments. Upon full payment, the Vendor will transfer the title to the Vendee and deliver relevant documents. The contract specifies terms regarding taxes, possession, breach of contract, jurisdiction and warranty of title.

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Champ0418
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7K views3 pages

Contract To Sell

This 3 page contract details the agreement between a Vendor and Vendee for the sale of a parcel of land. The Vendor agrees to sell and the Vendee agrees to buy the property for a total price to be paid in installments. Upon full payment, the Vendor will transfer the title to the Vendee and deliver relevant documents. The contract specifies terms regarding taxes, possession, breach of contract, jurisdiction and warranty of title.

Uploaded by

Champ0418
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
You are on page 1/ 3

CONTRACT TO SELL

KNOW ALL MEN BY THESE PRESENTS:

This Contract to Sell is made and executed by and between:

_________________, of legal age, Filipino,


single/married, and a resident of _________________,
Philippines, hereinafter referred as the VENDOR;

-and-

_________________, of legal age, Filipino, single,


and a resident of _________________, Philippines,
hereinafter referred as the VENDEE;

WITNESSETH THAT:

WHEREAS, the VENDOR is the registered owners of a parcel of land covered by


Transfer Certificate of Title (TCT) No. _________________;

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 in consideration of the total sum of


_____________________________________ (Php__________________) PESOS
and the covenants hereinafter set forth, the VENDOR agrees to sell and the VENDEE
agrees to buy the abovementioned property, subject to the following terms and
conditions:

1) The total consideration shall be


_____________________________________ (Php__________________) PESOS,
payable as follows:

a) The amount of ________________________________________


Pesos (Php___________________) as downpayment shall be paid by
the VENDEE to the VENDOR upon the signing of this Contract to Sell;

b) The remaining balance in the amount of


________________________________________ Pesos
(Php___________), shall be paid by the VENDEE to the VENDOR
after the VENDOR secures all the documents necessary to transfer the
said property in the name of the VENDEE;
 
2) Upon the full payment of the total contract price, the VENDOR shall sign
and execute a DEED OF ABSOLUTE SALE, absolutely and unconditionally conveying
title over the subject property to the VENDEE and/or the latter’s assign(s) and
successor(s)-in-interest. The VENDOR shall likewise deliver the original owner’s
duplicate copy of the Transfer Certificate of Title and Tax Declaration of the property;

3) The VENDOR shall be responsible for the payment of all taxes and
assessments due to the government and its instrumentalities on the subject property as
of the date of the execution of this Contract;

Page 1 of 3
Contract to Sell
4) The VENDEE shall be responsible for the payment of the capital gains tax
and documentary stamp tax due on the sale herein contemplated, as well as, the
assessable transfer tax, registration fees, legal fees, titling fees, notarial fees and other
incidental fees and expenses;

5) Possession to the subject property shall be delivered by the VENDOR to


the VENDEE upon signing of this contract;

6) The failure of one party to insist and demand upon the strict performance
of any of the terms and conditions herein stipulated shall not be deemed a
relinquishment or waiver or any right or remedy that any party may have against the
other, nor shall it be construed or interpreted or taken to mean a waiver of any
subsequent breach or default of the terms and conditions herein stipulated, which shall
be deemed not to have been made unless expressly made or effected in writing and
signed by such party;

7) Any action arising out of this Contract shall be brought only in the proper
courts of ________________, Philippines, to the exclusion of any other court.

8) This contract may be terminated under any of the following instances:

a) By any of the parties, upon compliance by the parties of all of their


respective obligations under this Contract;

b) By both parties, upon their mutual agreement, in which case the rights
and obligations of the parties will thenceforth be governed by such
agreement; or

c) By any of the parties, upon failure of either party or both parties to


comply with their obligations hereunder, in which case their rights and
obligations shall be as follows:

i) if the failure is on the part of the VENDOR, the VENDOR shall


return, with interest at six percent (6%) per annum, to the VENDEE,
the downpayment and any amount that the former may have
received from the latter under and by virtue of this Contract, and the
VENDEE shall, in turn, return to the VENDOR all the documents
they may have received from the latter;

ii) if the failure is on the part of the VENDEE, the VENDOR shall
forfeit the downpayment and consider this Contract cancelled,
revoked and of no force and effect;

9) The VENDOR hereby expressly warrant unto the VENDEE, the latter’s
heir(s), assign(s) and/or successor(s)-in-interest, the validity of the former’s title to the
subject property and that such property is free from any lien or encumbrance
whatsoever, and that the VENDOR will defend said title against any claim by any third
party;

10) The parties likewise hereby expressly agree that this Contract constitutes
the only and whole agreement between the parties with respect to the subject property
and that this Contract supersedes any and all previous agreements or contracts, if any,
which the parties may have entered into in respect of the said property, and which
previous agreements and contracts are hereby deemed revoked, cancelled and
rendered ineffective in all respects and for all legal intents and purposes.

Page 2 of 3
Contract to Sell
IN WITNESS WHEREOF, the parties have signed this Contract to Sell on
________________ in ___________, Philippines.

________________ ________________
Vendor Vendee
ID Type: ____________________ ID Type: ____________________
ID No. _____________________ ID No. _____________________

Republic of the Philippines)


________________ )s.s.
x- - - - - - - - - - - - - - - - - x

ACKNOWLEDGMENT

BEFORE ME, a Notary Public for and in ________________, Philippines,


personally appeared the above PARTIES whom I have identified through their
respective competent evidence of identity as indicated above and who represented
themselves to me to be the same persons who executed the foregoing CONTRACT TO
SELL, consisting of three (3) pages including the page on which this Acknowledgment is
written, the same having been signed by the parties and their witnesses on each and
every page hereof, and acknowledged and sworn to me that the same is their own free
act and voluntary deed.

WITNESS MY HAND AND SEAL this ____________________ in ____________,


Philippines.

Doc. No. _____;


Page No. _____;
Book No. _____;
Series of 2020.

Page 3 of 3
Contract to Sell

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