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The As Is Residential Contract For Sale And Purchase is specifically designed for property transactions in the Philippines where the buyer agrees to purchase the property in its current condition without warranties from the seller regarding the property's state. This document is particularly useful in situations involving older properties, properties needing renovation, or when sellers want to limit their post-sale liability. It must comply with Philippine real estate laws, including the Civil Code, the Maceda Law for installment sales, and local property regulations. The contract includes detailed sections on property disclosure, buyer inspection requirements, and explicit acknowledgments of the property's condition. It's structured to protect both parties while ensuring transparency in the transaction, with special attention to Philippine-specific requirements for property transfer, tax obligations, and registration procedures.

1. Parties: Identifies and provides full details of the Seller and Buyer, including their legal capacity to enter into the contract

2. Background: Establishes the context of the sale, including the Seller's ownership of the property and intention to sell 'as is'

3. Definitions: Defines key terms used throughout the agreement, including 'as is' condition and other relevant terminology

4. Property Description: Detailed description of the property including lot number, street address, boundaries, and tax declaration details

5. Purchase Price and Payment Terms: States the agreed purchase price and detailed payment structure, including deposit and final payment arrangements

6. As Is Condition: Explicitly states that the property is sold in its current condition, with buyer's acknowledgment of existing defects and conditions

7. Buyer's Inspection Acknowledgment: Confirms that buyer has inspected the property and accepts its current condition

8. Representations and Warranties: Limited warranties from seller and acknowledgments from buyer regarding the 'as is' nature of the sale

9. Closing and Transfer of Title: Details the closing process, document requirements, and transfer of title procedures

10. Taxes and Expenses: Allocation of transfer taxes, registration fees, and other transaction expenses

11. Risk and Insurance: Transfer of risk and responsibility for insuring the property

12. Default and Remedies: Consequences of default by either party and available remedies

13. Governing Law and Jurisdiction: Confirms Philippine law governance and jurisdiction for disputes

14. Notices: Process for serving formal notices between parties

15. Entire Agreement: Confirms the contract as the complete agreement between parties