The consumer __________________ [NAME] hereby to purchase from the owner’s ________________ [NAME] property the condominium [TYPE OF PROPERTY] located at ______________________________ [STREET, NAME OF BUILDING, CITY, ZIP CODE]. The officially permitted description of the said property is ________________________________________ [OWNER’S STATEMENT]
THE TERMS AND CONDITIONS AGREED UPON BETWEEN THE OWNER AND THE CONSUMER:
A. MODE OF PAYMENT
The amount of the purchase property is ____________ [currency] to be paid according to agreed terms and conditions.
The payment mode will be CASH of the total amount of price upon closing the negotiation of purchasing the property
The consumer can obtain his/her first mortgage loan within specified number of days provided that this is accepted by the owner in the amount of _______________ for _____________ monthly installments including the exact interest. Failure to pay within the specified number of days as stated above may terminate this agreement.
The purchase price for the said property shall be paid in accordance to the contract made between the two involved persons. However, the down payment is acceptable if not to be pay in total amount of price in cash. The down payment t be made upon settlement of closing the negotiation shall be _________________ and the remaining balance of ____________ shall be compensated at the rate of ___________ percent per annual.
B. PROPERTY TAXES AND ASSESSMENTS
The property to be purchase shall be stated to the consumer as to what he/she should know. The owner hereby shall pay all the taxes for this property throughout the date of negotiation to purchase. If there is a rent existing during the date of closing the sale, all the deposits will be properly transferred to the consumer.
C. TITLE OF THE PROPERTY
[DESCRIPTION OF THE PURCHASE PROPERTY]
D. TENURE OF PROPERTY
The consumer shall be given the rights of owning the property on _______________ [EXPECTED DATE]. Failure to do so, the tenure of the said property will not be transferred to the consumer, but the seller shall pay the specified amount to the consumer per day as damages for breaching the contract.
E. DAMAGES TO PROPERTY PRIOR TO CLOSING THE SALE
Any damages happen at the event of closing the sale will be the risk for the seller. The consumer may or may not continue to close the sale and the amount of money deposited for this agreement will be properly refunded. Hence, the transfer of the title of this agreement shall be invalid.
F. GENERAL CONDITION
The agreement made to purchase the said property between the seller and consumer shall witness by their personal representatives and successors and shall be governed in accordance with the laws of the state.
G. SPECIAL CONDITION
[ANY SPECIAL CONCERNS OR ADDITIONAL CONDITIONS MAY STATE HERE]
TIME OF CLOSING THE NEGOTIATION
The purchase property will be invalid if not accepted by the Seller in notice on or before ___________ at _________ [TIME]
Closing of the negotiation shall be effective ________ [DAYS] after the consumer’s receipt presented showing the tenure of the title of property. This will be made at _______________.[DATE]
ACCEPTANCE BY THE SELLER
The purchase property ____________ is hereby accepted within he given terms and conditions stated above.