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The Real Estate Purchase Agreement With Seller Financing is a specialized legal document used in the Philippines when traditional bank financing is not the preferred or available option for property acquisition. This agreement serves a dual purpose: it documents the sale of real estate property and establishes a financing arrangement where the seller effectively acts as the lender. The document must comply with Philippine legal requirements, including the Civil Code, Maceda Law, and real estate regulations, making it suitable for both residential and commercial property transactions. It's particularly useful when buyers seek alternative financing options or when sellers wish to generate regular income through installment payments. The agreement includes crucial elements such as property details, payment terms, interest rates, security arrangements, and conditions for title transfer, while incorporating protective measures for both parties as required under Philippine law.

1. Parties: Identification of the Seller and Buyer, including complete legal names, civil status, addresses, and tax identification numbers as required by Philippine law

2. Background: Context of the sale, brief description of the property, and explanation of seller financing arrangement

3. Definitions: Definitions of key terms used throughout the agreement, including technical and financial terms

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

5. Purchase Price: Total purchase price, down payment amount, and breakdown of payment components

6. Financing Terms: Detailed terms of seller financing including principal amount, interest rate, payment schedule, and amortization table

7. Security and Collateral: Details of security arrangements, including retention of title or mortgage provisions until full payment

8. Payment Terms and Conditions: Schedule of payments, payment methods, and consequences of default

9. Rights and Obligations of the Parties: Specific responsibilities of both buyer and seller during the financing period

10. Default and Remedies: Provisions for default scenarios, grace periods (as per Maceda Law), and available remedies

11. Transfer of Title: Conditions and process for transferring property title upon completion of payments

12. Taxes and Expenses: Allocation of taxes, registration fees, and other transaction costs

13. Representations and Warranties: Statements of fact and promises by both parties regarding the property and their capacity to enter the agreement

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

15. Execution: Signature blocks and notarization requirements