This document is an earnest money agreement for the purchase of a property located at 49 Circle Drive, Cubic Homes, BgyMerville, Paranaque. The buyer has already paid PHP 50,000 in earnest money and is paying an additional PHP 50,000, for a total of PHP 100,000 in earnest money towards an original purchase price of PHP 7,000,000, now adjusted to PHP 6,800,000. The balance will be due upon execution of the Deed of Absolute Sale. The buyer has exclusive rights to purchase the property until October 30, 2019 or loan payoff. Upon loan payoff, the seller will execute the Deed of Absolute Sale transferring title free of liens to
This document is an earnest money agreement for the purchase of a property located at 49 Circle Drive, Cubic Homes, BgyMerville, Paranaque. The buyer has already paid PHP 50,000 in earnest money and is paying an additional PHP 50,000, for a total of PHP 100,000 in earnest money towards an original purchase price of PHP 7,000,000, now adjusted to PHP 6,800,000. The balance will be due upon execution of the Deed of Absolute Sale. The buyer has exclusive rights to purchase the property until October 30, 2019 or loan payoff. Upon loan payoff, the seller will execute the Deed of Absolute Sale transferring title free of liens to
This document is an earnest money agreement for the purchase of a property located at 49 Circle Drive, Cubic Homes, BgyMerville, Paranaque. The buyer has already paid PHP 50,000 in earnest money and is paying an additional PHP 50,000, for a total of PHP 100,000 in earnest money towards an original purchase price of PHP 7,000,000, now adjusted to PHP 6,800,000. The balance will be due upon execution of the Deed of Absolute Sale. The buyer has exclusive rights to purchase the property until October 30, 2019 or loan payoff. Upon loan payoff, the seller will execute the Deed of Absolute Sale transferring title free of liens to
This document is an earnest money agreement for the purchase of a property located at 49 Circle Drive, Cubic Homes, BgyMerville, Paranaque. The buyer has already paid PHP 50,000 in earnest money and is paying an additional PHP 50,000, for a total of PHP 100,000 in earnest money towards an original purchase price of PHP 7,000,000, now adjusted to PHP 6,800,000. The balance will be due upon execution of the Deed of Absolute Sale. The buyer has exclusive rights to purchase the property until October 30, 2019 or loan payoff. Upon loan payoff, the seller will execute the Deed of Absolute Sale transferring title free of liens to
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EARNEST MONEY AGREEMENT
In addition to the Php 50,000.00 received from the first Earnest money agreement, received from ________________with postal address at __________________, is the sum of Fifty Thousand Pesos (P 50,000.00) covered by BDO Unibank, Inc, check # _____________ dated ____________ representing EARNEST MONEY for payment of a lot located at 49 Circle Drive, Cubic Homes, BgyMerville, Paranaque covered by T.C.T. No. T-180920.
This EARNEST MONEY forms part of the initial purchase price of Seven Million Pesos(P7,000,000.00), now adjusted to a purchase price of Six Million, Eight Hundred Thousand Pesos (P6,800,000.00). The balance and full payment shall be processed upon execution of the DEED OF ABSOLUTE SALE.
The BUYER hereby reserves the exclusive right to purchase the aforementioned property and the SELLER cannot offer the aforementioned property to any third party until October 30, 2019, or upon payoff of the Property’s loan from Pag- Ibig Fund.
Upon pay-off of the Pag-Ibig loan, the SELLER shall execute a DEED OF ABSOLUTE SALE in favor of the BUYER, conveying the subject property with full warranty of a legal and valid title as provided by law, free and clear from any liens and encumbrances.
Upon execution of the DEED OF ABSOLUTE SALE, the SELLER shall undertake the payment of the Capital Gains Tax. The BUYER shall shoulder the payment of the Documentary Stamps Tax, Transfer Tax, Registration Fee and all other expenses to transfer the title of the property under his name.
In case of voluntary cancellation of this agreement by the BUYER then the SELLER shall have the right to terminate this agreement in which case the EARNEST MONEY in the amount of One Hundred Thousand Pesos (P 100,000.00) shall be returned to the BUYER.
This earnest money agreement supersedes prior agreements signed by both parties.
IN WITNESS WHEREOF, the parties have hereunto signed these presents at
______________ on this ___ day of __________ 2019.
(SELLER) (BUYER) Signature over Printed Name Signature over Printed Name
ACKNOWLEDGMENT Republic of the Philippines) ____________ ) S. S.
At _______________, this ___ day of _________2019, personally appeared the
following:
Name ID No. Issued at/on
all known to me and to me known to be the same persons who executed this Deed of Absolute Sale and who acknowledged to me that the same is their free and voluntary act and deed.It is further certified that this document contains two (2) pages, including this page, signed by the parties and witnesses on the space provided for and on the left hand margin of page one.
WITNESS MY HAND AND SEAL at the place and on the date first above-written.
