RESERVATION AGREEMENT/INTENT TO PURCHASE

KNOW ALL MEN BY THESE PRESENTS:

This Reservation Agreement is made and entered into by and between:
_______________, of legal age, Filipino, and with residence and postal address at
hereinafter referred to as the "SELLER'.
-AND-
_____________________, of legal age, Filipino, and with residence and postal address at
hereinafter referred to as the "BUYER":
SELLER and BUYER are hereinafter after collectively referred to as “PARTIES". individually
as "PARTY".
RECITALS:

WHEREAS. the SELLER is the owner of (a right to) the owner of an *choose one* (apartment
unit/condo/house/room) situated at (Insert property address here) with an area of (insert square
meter ng property here) square meters, more or less;___________________________ hereinafter
referred to as the "PROPERTY":
WHEREAS. The SELLER offered to sell the PROPERTY and the BUYER desires to purchase
the same subject to the terms and conditions of the Memorandum of Agreement/Deed of
Assignment and Transfer of Rights/Deed of Absolute Sale. whichever is applicable to be
executed by the parties herein;
NOW THEREFORE. for and in consideration of the mutual premises contained herein. the
SELLER and the BUYER hereby agree and stipulate the following Reservation Terms and
Conditions:

TERMS AND CONDITIONS

I. The BUYER shall pay the SELLER a monetary consideration in the amount of PESOS:
(₱ ) Philippine Currency
as Reservation Fee which shall form part of the Net Selling Price of the PROPERTY as indicated
in Paragraph 2 of this Agreement.
The BUYER's payment Reservation Fee shall constitute the BUYER'S guarantee of his intent to
purchase the PROPERTY: Likewise, receipt of the SELLER of such Reservation Fee from the
BUYER shall constitute the SELLER'S willingness to sell the PROPERTY to the BUYER:
2. The Net Selling Price of the PROPERTY shall be Philippine Currency
(₱ ) payable to the SELLER
3. Upon the receipt by the SELLER of the Reservation Fee, the SELLER warrants that he shall
no longer offer the UNIT to be sold to any other individual. business entity or buyer, nor shall
the SELLER be allowed to receive reservation or purchase payment from any individual,
business entity or buyer within the validly period.
Commission of such act within the prescribed period stipulated herein, shall automatically
constitute the SELLER's breach of this Agreement and he shall be Goble to the BUYER of the
penalties to be stipulated herein.
4. This Reservation Agreement shall be in effect and binding between the parties from the date
of execution until . The PARTIES shall enter into a Memorandum of
Agreement or Deed of Sale or Deed of Assignment/Transfer of Rights, whichever is applicable,
within the said period.
In the event that no Memorandum of Agreement or Deed of Sale or Deed of
Assignment/Transfer of Rights is entered into within the prescribed period herein set forth, the
SELLER shall return the Reservation Fee to the BUYER. However, in the event that the BUYER
fails to pay in full the entire Selling Price within the agreed period for whatever cause, then the
Reservation Fee will be forfeited by the SELLER as and for damages.
5. In order for the Broker/salesperson to receive a commission of
(₱ ),he/ she must
introduce/assist his/her Buyer to and facilitate the sale until its closing.
His/her commission is on top of the Net Selling Price of .

_______________________________
BUYER SELLER

Assisted By:

AUTHORIZED BROKER/SALES PERSON

PRC ID NO.
HLURB No.

ACKNOWLEDGMENT

REPUBLIC OF THE PHILIPPINES)

CITY OF ________________) SS

BEFORE ME, a Notary Public of the City of _______________, this

________________ personally appeared:

NAME COMPETENT EVIDENCE OF IDENTITY

TIN- .

known to me and to me known to be the same persons who executed the foregoing
RESERVATION AGREEMENT, and acknowledged to me that they executed the same as their
free and voluntary act and deed for the uses and purposes therein set forth.

The foregoing instrument consists of three (3) pages, including the page whereon this
acknowledgment is written and the instrumental witnesses on each and every page thereof and
sealed by me with my notarial seal.
 WITNESS MY HAND AND SEAL in the place and date mentioned above.

Doc. No. __________;

Page No. __________;
Book No. __________;
Series of 2022.