The Offer To Purchase (Real Estate) is a crucial document in Philippine property transactions that initiates the formal process of real estate acquisition. It is typically used when a prospective buyer has identified a property of interest and wishes to formalize their intention to purchase. The document must comply with Philippine Civil Code requirements, property laws, and local regulations governing real estate transactions. It includes essential elements such as property description, purchase price, payment terms, conditions precedent, and due diligence provisions. This document is particularly important in the Philippine context as it serves as the foundation for subsequent negotiations and, upon acceptance, becomes a legally binding agreement subject to the fulfillment of specified conditions. It provides protection for both parties by clearly documenting the terms of the proposed transaction and ensuring compliance with local legal requirements.
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1. Parties: Identification of the prospective buyer (offeror) and property owner (offeree), including complete legal names and addresses
2. Background: Brief context of the offer and property transaction
3. Definitions: Key terms used throughout the document
4. Property Description: Detailed description of the real estate property including exact location, boundaries, and title details
5. Purchase Price: The offered amount and currency for the property
6. Payment Terms: Structure of payment including earnest money, down payment, and balance payment schedule
7. Due Diligence Period: Timeframe and conditions for property inspection and title verification
8. Conditions Precedent: Requirements that must be met before the sale can proceed
9. Representations and Warranties: Statements of fact by both parties regarding the property and their capacity to enter into the transaction
10. Closing Process: Steps and requirements for completing the transaction
11. Expiration of Offer: Time period for which the offer remains valid
12. Governing Law: Specification of Philippine law as governing law
13. Execution: Signature blocks and execution requirements
1. Financing Contingency: Include when buyer's offer is contingent on obtaining financing
2. Property Sale Contingency: Include when buyer needs to sell their current property first
3. Tenant Rights: Include when the property is currently leased or occupied
4. Broker Representation: Include when real estate brokers are involved in the transaction
5. Homeowners Association: Include when property is part of a homeowners association
6. Construction Completion: Include when property is still under construction
7. Foreign Ownership Compliance: Include when buyer is a foreign national, addressing ownership restrictions
1. Schedule A - Property Details: Detailed technical description of the property, including lot area, boundaries, and technical description from the title
2. Schedule B - Payment Schedule: Detailed breakdown of payment terms and dates
3. Schedule C - Property Inspection Report: Results of any preliminary property inspection
4. Schedule D - Title Information: Copy of title and relevant title details
5. Schedule E - Property Inclusions and Exclusions: List of items included or excluded from the sale
6. Appendix 1 - Property Photos: Recent photographs of the property
7. Appendix 2 - Required Documents: List of documents required for closing
8. Appendix 3 - Tax Certificates: Current real property tax certificates and clearances
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Development
Construction
Banking and Finance
Legal Services
Investment
Hospitality
Retail
Commercial Property
Residential Property
Industrial Property
Relevant Teams
Legal
Real Estate
Property Management
Corporate Development
Facilities Management
Asset Management
Investment
Acquisitions
Finance
Compliance
Risk Management
Relevant Roles
Real Estate Agent
Property Manager
Legal Counsel
Corporate Lawyer
Real Estate Broker
Property Developer
Investment Manager
Asset Manager
Acquisition Manager
Real Estate Investment Officer
Property Acquisition Specialist
Corporate Real Estate Manager
Facilities Manager
Real Estate Portfolio Manager
Commercial Property Manager
Real Estate Transaction Manager
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