Professional Documents
Culture Documents
Sample Contract To Sell A Condominium Unit PDF
Sample Contract To Sell A Condominium Unit PDF
(A Condominium Project)
CONTRACT TO SELL
KNOW ALL MEN BY THESE PRESENTS:
-and-
WITNESSETH: That -
WHEREAS, the SELLER shall form and establish the Splendido Taal
Towers, a condominium project (hereinafter referred to as the “PROJECT”) on
parcels of land located at Splendido Residential Estates, Municipality of
Laurel, Batangas;
WHEREAS, the SELLER has offered to sell, transfer and convey to the
BUYER the Unit hereinafter described, under the following terms and
conditions hereinafter set forth;
WHEREAS, the BUYER agrees to comply with the terms and conditions
set forth in the Master Deed and Declaration of Restrictions for Splendido Taal
Towers, as formulated by the SELLER;
Contract to Sell
5. The BUYER has examined the plans and specifications for the
Project prepared by the SELLER’s Architects, to his satisfaction,
which are hereby made integral parts hereof by way of reference,
copies of which will be furnished the BUYER upon request.
6.1. DOWNPAYMET
__________________________________________________________
_________________________________________________________________
______,
a. Reservation Fee:
______________________________P_____________________),
b. Balance of Downpayment:
____________________________________________,
_________________________________________________________________
______
(P_____________________),
2
Contract to Sell
BALANCE:_______________________________________________________
_______
_________________________________________________________________
______ (P_____________________), payable in _____________
installments and on the _______ day of each month beginning
__________________ until __________________. The BUYER shall
deliver to the SELLER __________________ (______) post-dated
checks to cover the afore-mentioned installments. (See
attached schedule of payments).
7. The SELLER shall pay real estate tax and assessment on the subject
property without recourse to the BUYER for as long as the title has
not passed to the BUYER. However, if the BUYER has actually taken
possession of and occupied the Unit, the BUYER shall be liable to
the SELLER for such real property tax and assessment.
3
Contract to Sell
assessments and association fees due to the SELLER/Condominium
Corporation.
(d) In any of the above cases, the BUYER recognizes the right of,
and hereby irrevocably authorizes, the SELLER and/or the
Condominium Corporation or its representatives to enter and take
possession of the Unit(s) and take whatever action is necessary or
advisable to protect its rights and interests in the Unit(s).
11. The title to the property, subject of this sale, shall remain in the
name of the SELLER until full payment of the consideration of the
sale as well as payment of any sum of money due from the BUYER
under the terms and conditions of this Contract. After the aforesaid
payments, the SELLER is duty bound to cause the delivery of the
Condominium Certificate of Title and execution of a Deed of
Absolute Sale of the UNIT free from liens and encumbrance, except
for the Master Deed with Declaration of Restrictions that shall
be annotated unto the Titles and other conditions imposed by the
SELLER necessary for the proper management of the Project.
13. The BUYER hereby acknowledges that in buying the UNIT, subject
matter of this sale, the BUYER has full knowledge that Splendido
Taal Towers, is part of the development of Splendido Residential
Estates and Golf and that the BUYER poses no objection to the
changes or expansion or alteration that the SELLER may
introduce/institute on the total project of Splendido Residential
Estates, and the necessity of prior notice to the BUYER or
conformity is hereby waived.
a. The SELLER shall endeavor to complete the unit and deliver the
same to the BUYER not later than _________________. In the event of
delay due to fire, earthquake or other natural elements, acts of
God, war, civil disturbance, government and economic controls, or
any other cause beyond the SELLER’s control, or which makes it im-
possible or difficult to obtain the necessary labor or materials, or
which renders the completion of the Project within the period spe-
cified impossible, the SELLER may consider itself relieved of any
contract, and it shall reimburse the BUYER, without interest, for all
amounts heretofore received from the latter less delinquency pay-
ments.
b. Upon completion of the Unit subject hereof, the SELLER shall notify
the BUYER thereof. The delivery of such notice shall constitute con-
structive delivery of the Unit subject hereof to the BUYER, notwith-
standing the failure of the BUYER to take actual possession thereof.
From and after such constructive delivery of the Unit, all risks of
loss or damage to the Unit and the pro rata assessments thereon
shall be for the account of the BUYER.
16.The SELLER reserves the right at any time before delivery date to
make any alteration of plans, repairs, additions or omissions, as it
may deem necessary, on the Project or the Unit, and the said
alteration, addition or omission shall in no way affect or render void
this Contract.
5
Contract to Sell
However, should the BUYER fail to inspect the subject UNIT within the
period stated in the Notice of Turn-Over, or fail to be present on the date and
time of a previously scheduled inspection, or unjustifiably refuses to accept
the subject UNIT, the delivery to BUYER by virtue of the said Notice of Turn-
Over shall constitute constructive delivery of the subject UNIT to the BUYER,
and the BUYER shall be deemed to have constructively accepted the physical
possession, occupancy and beneficial use of the subject UNIT for all intents
and purposes. Consequently, from and after delivery to the BUYER, all risks
of loss or damage to the subject UNIT, as well as all obligations, association
dues, real property taxes and other assessments accruing on the subject
UNIT shall be for the exclusive account of the BUYER. The SELLER, on the
other hand shall be relieved of any responsibility for any loss, damage or
injury that may be caused to the subject UNIT, or for any real property taxes,
association dues or assessments accruing on the subject UNIT, from and after
the delivery of the subject UNIT, actual or constructive, to the BUYER.
21. The BUYER shall not assign, cede, sell, transfer or in any manner
dispose of the UNIT subject of this Contract and no transfer or
6
Contract to Sell
assignment of rights or interest under this Contract shall be made
by the BUYER without the prior written conformity of the SELLER,
violation of which renders such transaction null and void.
22. In case the BUYER transfers its rights under this Contract, the
BUYER agrees to pay to the SELLER 1% of the total Contract
Price of the UNIT, as transfer fee or such amount that shall be
indicated by the SELLER.
23. The BUYER hereby agrees that the SELLER shall have the right to
sell, assign or transfer to one or more BUYERs, assignees or
transferees any and all its rights and interests under this Contract,
including all its receivables due hereunder; provided, however that
any such BUYER, assignee or transferee expressly binds itself to
honor the terms and conditions of this Contract with respect to the
rights of the herein BUYER. Provided further, that upon the
BUYER’S full payment of the purchase price, the title shall be
delivered by the SELLER to the BUYER free from any and all kinds of
liens and encumbrances, except for the terms and conditions set
forth in the Master Deed and Declaration of Restrictions.
24.The BUYER hereby recognizes and agrees that the SELLER shall
have the right to assign all its rights and receivables under this
Contract in favor of a bank or government or private financial
institution. In such a case, the BUYER undertakes to conform to the
same and to perform faithfully all his/her obligations under this
Contract without need of demand from the SELLER’S assignee,
which may be designated as the servicer for the servicing and
collection of the obligations of the BUYER under this Contract.
Accordingly, the BUYER agrees that the assignee shall assume all
the rights and interest of the SELLER under this Contract and upon
the advice by the assignee, the BUYER shall pay his/her obligations
under this Contract directly to the assignee. The said assignment
of rights and receivables shall be without prejudice to a deferred
Real Estate Mortgage on the property which may, immediately or
thereafter be required by the SELLER or the assignee bank or
government or private financial institution for the purpose of
securing a financial package availed of for the payment of the
balance of the purchase price.
26.Upon the payment by the BUYER of the full amount of the contract
price, including any and all assessments and expenses that may
have been advanced by the SELLER for the account of the BUYER,
and after full compliance by the BUYER of all its obligations here,
the SELLER will convey title and ownership and all the rights and
interests over the UNIT in favor of the BUYER.
7
Contract to Sell
27. In order to upgrade and improve the features of Splendido Taal
Towers, the SELLER has deemed it necessary to organize the
Splendido Taal Country Club, which is a major facility, and forms
part of a larger network of facilities within the Splendido Taal
development. BUYER understands that the Splendido Taal Country
Club shall also be open to membership for non-residents or non-unit
owners. BUYER also understands that Splendido Taal Country Club
is a facility which is not an integral part of Splendido Taal Towers
and BUYER cannot demand its construction, completion and/or
enjoyment, except as provided in this contract.
31. In case the BUYER (including its heirs, successors and assigns)
commits a breach of any of the stipulations herein provided, the
SELLER is entitled to bring suit to recover damages plus attorney’s
fees, and no suit or cause of action shall be instituted except before
the proper courts of Pasig City;
33. This Contract states the entire agreement between the parties and
the SELLER is not and shall not be bound by any stipulation,
representation, agreement or promises, whether oral or otherwise,
which is not contained in this Contract or incorporated herein by
reference. This Contract shall be deemed subject to the provisions
of the Reservation Agreement, Condominium Act, the Master Deed,
the Declaration of Restrictions, Articles of Incorporation and By-
Laws and Rules and Regulations of the Condominium Corporation.
a) The BUYER shall notify the SELLER in writing of any change in his
mailing address within SIXTY (60) DAYS from such change. Should
BUYER fail to do so, his address stated in this Contract shall remain his
mailing address for the purpose of sending of all notices under this
Contract and/or required by law.
b) Any and all actions or suits in connection with or arising from this
contract shall be filed with the proper courts of Pasig City, Philippines.
9
Contract to Sell
amount of the claim on the demand but in no case less than Fifty
Thousand Pesos (P50,000.00), Philippine currency.
36. Notices and other legal processes shall be sent by registered mail
or personal delivery at the SELLER’S address at the Ground Floor,
State Financing Center Building, Ortigas Avenue, Mandaluyong City,
unless written notice of change or amendment of address has been
received by the BUYER;
____________________________ _______________________________
Buyer
___________________________ _______________________________
ACKNOWLEDGEMENT
10
Contract to Sell
11