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Contract To Sell - Lot in BLISS Project
Contract To Sell - Lot in BLISS Project
This Contract to Sell (Agreement) is made and entered into by and between:
-and-
WITNESSETH THAT:
WHEREAS, the FIRST PARTY is the absolute and registered owner of Unit 17,
BLISS Project, located at Brgy. Kirayan Tacas, Miagao, Iloilo. Said property consists of
Three Hundred Fifty (350) square meters.
WHEREAS, the SECOND PARTY offered to buy and the FIRST PARTY agreed
to sell the above mentioned party subject to the terms and conditions specified
hereinafter;
NOW THEREFORE, for and in consideration of the foregoing premises and for
an agreed purchase price of ONE HUNDRED EIGHTY THOUSAND PESOS
(P180,000.00) the FIRST PARTY agrees to sell the above-mentioned property to the
SECOND PARTY under the terms and conditions herein below set forth:
2. Possession to the subject property shall be delivered by the FIRST PARTY to the
SECOND PARTY after three (3) months upon full payment of the total
consideration.
3. Upon full payment of the purchase price, the FIRST PARTY shall duly execute a
Deed of Absolute Sale in favor of the SECOND PARTY to effect the transfer of
ownership.
4. In the event of failure on the part of the SECOND PARTY to pay the total
consideration on or before November 30, 2019, this Contract to Sell shall be
terminated. Thereafter, all installment payments made by the SECOND PARTY
shall be forfeited in favor of the FIRST PARTY. Upon the termination of this
Contract to Sell, the FIRST PARTY shall be free to sell and dispose the property
to any willing third party.
______________________________ ______________________________
ACKNOWLEDGMENT
This instrument or document consists of two (2) pages, and are signed by the
principals and their witnesses on each and every page hereof.