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The Agreement To Buy And Sell (Real Estate) is a crucial legal document used in Philippine real estate transactions to formalize the intention and commitment of parties to transfer property ownership. This document is typically used when parties have agreed on the basic terms of the sale but need time to fulfill certain conditions, such as payment schedules or due diligence requirements, before executing the final Deed of Absolute Sale. The agreement must comply with Philippine property laws, including the Civil Code, Maceda Law, and local property regulations. It serves as a preliminary contract that protects both parties' interests during the transition period between agreement and final sale, outlining their respective rights, obligations, and remedies. The document is particularly important in transactions involving installment payments, property development, or when certain conditions must be met before closing.

1. Parties: Identification of the Seller and Buyer, including complete names, civil status, addresses, and tax identification numbers

2. Background: Brief context of the transaction, including the Seller's ownership of the property and intention to sell, and the Buyer's intention to purchase

3. Definitions: Key terms used throughout the agreement, including Property, Purchase Price, Closing Date, etc.

4. Property Description: Detailed description of the real estate property, including lot number, location, boundaries, and certificate of title details

5. Purchase Price: Total consideration and payment terms, including deposit, down payment, and balance payment schedule

6. Payment Terms: Detailed breakdown of payment schedule, method of payment, and consequences of default

7. Conditions Precedent: Prerequisites that must be fulfilled before the sale becomes final, including title verification and property inspection

8. Representations and Warranties: Declarations by both parties regarding their capacity to enter into the agreement and the status of the property

9. Closing Requirements: Documents and actions required from both parties to complete the transaction

10. Transfer of Title: Process and timeline for transferring property ownership from Seller to Buyer

11. Taxes and Expenses: Allocation of transaction costs, including taxes, registration fees, and professional fees

12. Default and Remedies: Consequences of breach and available remedies for both parties

13. Governing Law: Specification of Philippine law as governing law and jurisdiction for disputes

14. Miscellaneous Provisions: Standard clauses including entirety of agreement, amendments, and notices