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Real Estate Sale Agreement Philippines

This document is a memorandum of agreement between a vendor and vendee for the sale of certain parcels of land. The vendor owns land that is currently mortgaged and is offering to sell the land to the vendee for 100,000 Philippine pesos. The vendee agrees to buy the land and assumes responsibility for paying the remaining balance of the mortgage on the land. Both parties sign the agreement on a specified date in Davao City, Philippines.

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16 views2 pages

Real Estate Sale Agreement Philippines

This document is a memorandum of agreement between a vendor and vendee for the sale of certain parcels of land. The vendor owns land that is currently mortgaged and is offering to sell the land to the vendee for 100,000 Philippine pesos. The vendee agrees to buy the land and assumes responsibility for paying the remaining balance of the mortgage on the land. Both parties sign the agreement on a specified date in Davao City, Philippines.

Uploaded by

re vie
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd

MEMORANDUM OF AGREEMENT

KNOW ALL MEN BY THESE PRESENTS:

This AGREEMENT is made and executed in ___ , Philippines, by and between:

______, Filipino, of legal age, married to _______and a resident of __________


Philippines, hereinafter referred to as “VENDOR”
 
– and –

___, of legal age, married, Filipino Citizen, and a resident of +___________-


City, hereinafter called the “VENDE

WITNESSETH: THAT-

WHEREAS, the VENDOR is the owner and mortgagor of certain parcels of land
with all the improvements existing thereon, situated at_______ City;
 
WHEREAS, the above-described properties are presently mortgaged to ____to
secure the payment of loan;

WHEREAS, the VENDOR has offered to sell and the VENDEE has agreed to buy
the above-described parcels of land with all the improvements thereon for the
total price of ONE HUNDRED THOUSAND PESOS (P100,000.00) ONLY;

NOW, THEREFORE, for and in consideration of the sum of ONE HUNDRED


THOUSAND PESOS (P100,000.00) Philippine currency, the said VENDOR does
hereby sell, transfer and convey, in a manner absolute and irrevocable, unto
the VENDEE, her heirs and assigns the real property above described together
with all the improvements existing thereon, free and clear of all liens and
encumbrances excepting the mortgagee as may be subsisting in favor of _____;
and

The VENDEE does hereby accept this sale and binds herself to assume as she
hereby assumes the payment of the unpaid balance of the mortgage in
indebtedness of the VENDOR in favor of the aforenamed mortgagee and does
hereby further agree to be bound by the precise terms and conditions therein
contained.

The SELLER shall secure the approval of the Mortgagee to the assumption by
the BUYER of the mortgages over the subject parcels of land.

IN WITNESS WHEREOF, the parties hereto have hereunto set their


hands at the place first above written, on this ____ day of ____________________
2018, in Davao City, Philippines
VENDOR

-and-

VENDEE

Signed in the presence of: 

__________________________            __________________________

Doc. No. ____;


Page No. ____;
Book No. VI;
Series of 2018.

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