CONTRACT TO SELL

KNOW ALL MEN BY THESE PRESENTS:

This Contract to Sell is made and executed and entered into by:

Chloe Decker, of legal age, Filipino, married to Lucifer Morningstar, with residence address at La Playa Azul
Subdivision Bonuan-Boquig Dagupan City, Pangasinan, hereinafter referred to as the SELLER;

-AND-

       Amenadiel Mazeekeen, of legal age, Filipino, single and with residence and postal address at Tondaligan
Blue Beach Subdivision Bonuan Dagupan City Pangasinan, hereinafter referred to as the BUYER;

WITNESSETH;

         WHEREAS, the SELLER is the registered owner of a parcel of land with improvements located

at Cabanban Manaoag Pangasinan and covered by Transfer Certificate of Title No. 10102020 containing a
total area of 500sqm, more or less, issued by the Registry of Deeds of Dagupan City;

WHEREAS, the BUYER has offered to buy and the SELLER has agreed to sell the above mentioned property
under the terms and conditions herein below set forth;

NOW THEREFORE, for and in consideration of the total sum of  P2 500,000 Philippine Currency, and of the
covenants herein after set forth the SELLER  agrees to sell and the BUYER agree to buy the aforesaid
property subject to the following terms and conditions:

1. The total consideration shall be P2 500,000 Philippine Currency, payable

through CASH/MANAGERS’ CHECK/WIRE TRANSFER as follows:

1.1. The amount of THE EARNEST MONEY DEPOSIT P500,000 representing earnest money deposit shall
be payable upon execution of this Contract to Sell and shall be considered part of the total Contract price.

1.2. The remaining balance amounting to P2 000,000 Philippine Currency, shall be paid as follows:
P1,000,000 on or before 10 October 2020 and the other P1,000,000 shall be paid in 20 equal monthly
installment of P20,000 upon execution of this Contract to Sell.

 
1.3  In case the BUYERS could not fulfil any of their obligation stated in this Contract To Sell, the earnest
money shall be forfeited in favor of the SELLER.

2.    Al pending utility bills, if any, Real Estate Tax up to the time of sale, Capital Gains Tax, Documentary
Stamp Tax, shall be for the account of the SELLER.

3.     Notarization fees, Registration Fee, Transfer Fees and all miscellaneous fees and expenses to transfer the
certificate of title in the name of the new owner shall be for the account of the SELLER;

4.     Possession to the subject property shall be delivered by the SELLER to the BUYER upon full payment
of the total consideration;

5. ADDITIONAL TERMS AND CONDITIONS SUCH AS Delivery of the property shall be given by
the SELLER to the BUYER devoid of any religious artefacts, personal belongings and effects, tenants and
any toxic/radioactive substances. Etc.

6. TERMS AND CONDITIONS MAY VARY ON A CASE-TO-CASE BASIS. CONTRACTING PARTIE

MAY ADD, SUBTRACT, EDIT, ANY OR ALL PARTS OF THIS CONTRACT TO SELL AS THEY SEE
FIT

7.    Upon full payment of the total price, the SELLER shall sign and execute a DEED OF ABSOLUTE
SALE in favour of the BUYER. The SELLER shall likewise execute and/or deliver any and all documents,
including but not limited to the original copy of Transfer Certificate of Title, Tax Declaration and all other
documents necessary for the transfer of ownership from SELLER to the BUYER.

7. In case the BUYER failed to pay the monthly installment of 20,000, the buyer will be liable for a

2% interest upon the unpaid balance and 1% penalty charge therefor.

IN WITNESS WHEREOF, the parties have hereunto affixed their signatures, this

_____ day of _______________________ 20________ at ___________________________________,

Philippines.

 
 

___________________________________                                      
___________________________________

Printed Name and Signature of SELLER                                          Printed Name and Signature of

BUYER

SIGNED IN THE PRESENCE OF:

 ___________________________________                                      
______________________________________

Printed Name and Signature of 1st Witness                                                Printed Name and Signature of

2nd Witness

 ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

_____________________________ )  SS.
BEFORE ME, a Notary Public for and in
________________________________________________________  personally appeared:

Name                                       ID  Number                                         Date/Place Issued

Known to me and to me known to be the same persons who executed the foregoing instrument and
acknowledged to me that the same are their free act and voluntary deed.

 
This instrument, consisting of 2 pages, including the page on which this acknowledgment is written, has been
signed on the left margin of each and every page thereof by the concerned parties and their witnesses, and
sealed with my notarial seal.

WITNESS  MY HAND AND SEAL on this ______day of

_______________________________20__________ at_____________________________.

Notary Public

Doc. No. ……..;

Page No. …….;
Book No. …….;
Series of 20____.

————————————————————————————————————————————
—————————————————————-

When both parties have fulfilled their Contractual Obligations, that’s when it is said that the Contract is
“Perfected”. In the Contract to Sell, the perfection of the Contract shall climax in the execution of Deed of
Absolute Sale.

In this Document, the SELLER shall transfer the Title to the new owner, the BUYER.

I’d like to emphasize that the Certificate of Title is NOT THE TITLE in itself. The Certificate of title is
merely a certification or evidence of the TITLE. According to law, a TITLE are the legal right and
privileges.
As an analogy, if a medical doctor’s diploma was lost or destroyed, it doesn’t mean that the Physician’s TITLE
is also lost or destroyed. The diploma is just a certification of the doctor’s TITLE and NOT the title itself. The
TITLE of the doctor are his legal rights and privileges that come with his profession.

In the case of sale of Real Property the TITLE that is being transferred upon execution of Deed of Absolute
Sale are the legal rights and privileges to own the property. Again, we are not referring to the Certificate of
title here because obviously, the Certificate of Title would still be in the name of the SELLER and shall be
transferred to the name of the BUYER afterwards by virtue of Deed of Absolute Sale.

Please find below sample form for DEED OF ABSOLUTE SALE.

————————————————————————————————————————————
—————————————————————–

Read more: http://www.philippinesangeles.com/contract-to-sell-basic-guide-in-buying-philppine-property-
part-4/#ixzz6bISKlD9u