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The Seller Financing Contract is utilized in situations where traditional bank financing may not be available or desired, allowing property sellers in the Philippines to directly finance the buyer's purchase. This arrangement, governed by Philippine law, provides an alternative financing method particularly valuable in the local real estate market. The document incorporates crucial elements of both a sales agreement and a financing arrangement, ensuring compliance with local regulations including the Maceda Law, which provides specific protections for property buyers in installment sales. Key features include detailed payment terms, security arrangements, and mandatory disclosures required under Philippine law. The contract type is particularly relevant in both residential and commercial property transactions, offering flexibility while maintaining legal protections for all parties involved.

1. Parties: Identifies and provides complete details of the Seller/Financier and the Buyer/Borrower

2. Background: Describes the property being sold and the parties' intention to enter into a seller financing arrangement

3. Definitions: Defines key terms used throughout the agreement including Property, Purchase Price, Principal Amount, Interest Rate, and Payment Terms

4. Sale and Purchase: Details the basic terms of the sale including the purchase price and property description

5. Financing Terms: Specifies the financing amount, interest rate, payment schedule, and term of the loan

6. Security and Collateral: Establishes the property as collateral and any additional security requirements

7. Payment Terms and Conditions: Details payment mechanics, due dates, grace periods, and acceptable payment methods

8. Default and Remedies: Specifies what constitutes default and the remedies available to both parties, including Maceda Law provisions

9. Title and Ownership: Explains when and how title transfers, and any conditions attached

10. Representations and Warranties: Lists the promises and guarantees made by both parties

11. Insurance and Maintenance: Outlines requirements for property insurance and maintenance responsibilities

12. Taxes and Expenses: Allocates responsibility for property taxes, registration fees, and other expenses

13. Governing Law: Specifies Philippine law as governing law and references relevant statutes

14. Dispute Resolution: Details the process for resolving disputes between parties