You are on page 1of 3

CONTRACT TO SELL

KNOW ALL MEN BY THESE PRESENTS:

This Contract to Sell, made and executed in the City of __________________, by and between:

MARTIN A. CARBALLO married to MARITA M. CARBALLO, both of legal age, both


Filipinos with address at 722 Emerald St., Posadas Village, Sucat, Muntinlupa City
hereinafter referred to as the “SELLERS”.

- and -

___________________________, of legal age, Filipino, ___________ with address at


______________________________ hereinafter referred to as the “BUYER”;

WITNESSETH: THAT –

The SELLERS are the absolute and registered owner of a residential lot located at Lot 27 Blk 11
Emerald St., Posadas Village, Sucat, Muntinlupa City consisting of a lot area of Three Hundred square
meters (300 sqm) more or less, and covered by Transfer Certificate of Title No.10746 of the Register
of Deeds for Muntinlupa City and more particularly described as follows:

TRANSFER CERTIFICATE OF TITLE No. 10746

(The residential lot thereon is hereafter referred to as the “Property”)

The SELLER is willing to sell and the BUYER is willing to buy the abovementioned property.

NOW THEREFORE, for and in consideration of the principal sum of PESOS FIVE MILLION SEVEN
HUNDRED THOUSAND (P5,700,000.00), Philippine Currency, the SELLER does hereby sell, transfer
and convey unto the BUYER, her successors and assigns the abovedescribed property under the
following terms and conditions:

THE TOTAL PURCHASE PRICE

1. The Total Selling Price of the abovedescribed property is PESOS FIVE MILLION SEVEN
HUNDRED THOUSAND (P5,700,000.00), Philippine Currency, payable as follows:

a) The amount of Pesos __________________________(P_____________)


Philippine Currency – Representing downpayment payable on
_________________. This amount shall form part of the Total Selling
Price and shall be non-refundable unless SELLER, for whatever
reason, rescinds this Contract to Sell. Further, this amount shall be
used to fully settle the loan of the SELLERS to RCBC Savings Bank.
b) The amount of Pesos __________________ (P_______________) Philippine
Currency – representing full payment payable on or before
___________________ or when the mortgage annotation on the title has
been cancelled. (Note: According to RCBC Savings Bank Officer, the
turnaround time for the release of collateral documents is seven (7)
banking days upon posting of full payment in the bank’s system.
Standard turnaround time for cancelation of mortgage annotation
on the title is ten (10) working days.)

1
EXECUTION OF THE DEED OF SALE

Upon full payment of the total selling price hereinabove provided, the SELLERS shall execute and
deliver to the BUYER the Deed of Absolute Sale along with all other pertinent documents thereto as
listed below:

a) Original owner’s copy of the Transfer Certificate of Title (TCT No. 10746)
b) Original copy of Tax Declaration (TD No. F-008-0966)
c) Original Tax Clearance Certificate
d) Original Real Estate Tax Receipt (2018)
e) Certificate of Land Usage
f) Certificate of non-delinquency in the payment of Association Dues

POSSESSION

The BUYER shall be allowed to take possession of the subject property, as agreed with the SELLERS,
as soon as full payment is made by the BUYER. In the event however of default in the payments
stipulated above, or the cancellation of this contract to sell as provided in this agreement, the BUYER
shall, upon written notice from the SELLER, turn over the property to the SELLER, unless otherwise
there is an agreement in writing between the parties regarding the continued possession of the
property by the BUYER.

TAXES, EXPENSES

The Capital Gains Tax and Broker’s Professional Fee shall be for the account of the SELLER while the
Documentary Stamp Tax, Transfer Tax, Registration Fee, Notarial Fees and all other expenses related
to the transfer the title to the BUYER’s name shall be for the account of the BUYER. The Real Estate
Taxes (2018), Association Dues (2018), Assessments (if any) up to the quarter of the date of execution
of the Deed of Absolute Sale shall be for the account of the SELLERS.

CANCELLATION/FORFEITURE

In case the BUYER fails to pay the above amounts on the dates agreed upon, or the sale is not
consummated due to the default of the BUYER, this contract may be cancelled by the SELLERS, without
need of any judicial declaration, by serving the notice of cancellation to the BUYER and this contract
shall be of no further force and effect. In such event, the total downpayment in the amount of Pesos
_____________________________ (P________________) Philippine Currency, shall be forfeited in favor of the
SELLERS, as liquidated damages.

In case the SELLERS decide to rescind this contract due to no fault of the BUYER, the SELLERS shall
return to the buyer the total downpayment in the amount of Pesos ___________________________
(__________________) Philippine Currency. Any other amount already paid by the BUYER, in excess of the
liquidated damages, shall be returned to the BUYER, without interest.

IN WITNESS WHEREOF, the parties have hereunto affixed their signatures this _______ day of
___________________ 2018 at ____________________________.

SELLER:

________________________________________ ____________________________________
MARTIN A. CARBALLO MARITA M. CARBALLO
Marital Consent

BUYER:

__________________________________________

SIGNED IN THE PRESENCE OF:

__________________________________ _____________________________________

2
ACKNOWLEDGEMENT

SUBSCRIBED AND SWORN to before me, this ______ day of ___________, 2018, in the City
of _________________, Philippines, affiant personally appeared:

Personal Identification Place Issued Issue Date


Martin A. Carballo
Marita M. Carballo

known to me and to me known to be the same persons who executed the foregoing instrument
known as Contract To Sell consisting of four (4) pages and acknowledged to me the same is their own free
and voluntary act and deed.

IN WITNESS WHEREOF, I have hereunto set my hand and affixed my notarial seal on the date
and the place above written.

Doc. No. _______


Page No. _______
Book No. _______
Series of 2018.

You might also like