The Real Estate Offer Form is a crucial document in Philippine property transactions that formally initiates the purchase process. It is used when a prospective buyer wishes to present a formal offer to purchase real estate, whether residential or commercial property. The document must comply with Philippine civil law, real estate regulations, and local property transaction requirements. A properly drafted Real Estate Offer Form includes comprehensive details about the property, parties involved, purchase price, payment terms, and any conditions precedent to the sale. It serves as the foundation for the subsequent deed of sale and helps ensure that all parties clearly understand the proposed terms of the transaction. This document is particularly important in the Philippine context, where property transactions must follow specific legal requirements and local practices, including proper documentation and potentially notarization.
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1. Property Details: Complete description and identification of the subject property, including lot number, block number, certificate of title number, and complete address
2. Offer Price: The total purchase price being offered for the property, including the currency and payment terms
3. Payment Terms: Detailed breakdown of payment structure, including earnest money deposit, down payment, and balance payment schedule
4. Buyer Information: Complete details of the prospective buyer(s), including full legal name, civil status, citizenship, and current address
5. Seller Information: Complete details of the current property owner(s), including full legal name, civil status, citizenship, and current address
6. Offer Validity: The period for which the offer remains valid and binding
7. Due Diligence Period: Specified timeframe for the buyer to conduct property inspection and title verification
8. Standard Terms and Conditions: Basic terms governing the offer and subsequent sale, including default provisions and governing law
9. Execution: Signature blocks for all parties, including spaces for witnesses as required by Philippine law
1. Broker Information: Details of the licensed real estate broker(s) involved in the transaction, if any
2. Financing Contingency: Conditions related to the buyer's ability to secure financing, included when the offer is contingent on obtaining a mortgage
3. Property Inspection Contingency: Detailed conditions regarding property inspection requirements and rights to terminate based on inspection results
4. Existing Tenancy: Details of current lease agreements or occupancy, if the property is currently tenanted
5. Included/Excluded Items: Specific list of items included or excluded from the sale, such as fixtures or appliances
6. Special Conditions: Any additional terms or conditions specific to the transaction
7. Authority to Sell: When the seller is represented by an attorney-in-fact or authorized representative
1. Property Description Schedule: Detailed technical description of the property, including boundaries, technical specifications, and any easements or encumbrances
2. Payment Schedule: Detailed breakdown of payment terms including dates, amounts, and payment methods
3. Property Inspection Report: If applicable, attached report detailing the current condition of the property
4. Tax Clearance Certificate: Current real property tax clearance showing no outstanding tax obligations
5. Title Information: Copy of the current title or relevant title information
6. Property Photos: Recent photographs of the property's exterior and interior
7. Vicinity Map: Map showing the location and surroundings of the property
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Residential Property
Commercial Property
Property Development
Construction
Banking and Finance
Legal Services
Property Management
Investment and Asset Management
Urban Development
Relevant Teams
Legal
Real Estate
Property Management
Sales
Business Development
Compliance
Documentation
Finance
Investment
Asset Management
Relevant Roles
Real Estate Agent
Property Broker
Real Estate Attorney
Property Developer
Property Manager
Real Estate Investment Manager
Legal Counsel
Compliance Officer
Property Valuer
Real Estate Consultant
Banking Officer
Mortgage Specialist
Real Estate Documentation Specialist
Title Officer
Property Transaction Coordinator
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