CONTRACT TO SELL
KNOW ALL MEN BY THESE PRESENTS:
This CONTRACT TO SELL, made and executed this ____ day of _________, 20__ by and
between:
JOSEPH DAAN MANZANARES of legal age, married to CHANTEL DELFIN
BELUSO, Filipino, and with residence and postal address at Bantigue Bantayan Island
Cebu, hereinafter referred to as the "SELLER/VENDOR";
-AND
SPS. ERNEST B. ARRIOLA & CHARITO E. ARRIOLA, Filipino and with residence
and postal address at #444 P. del Rosario Ext., Sambag 1, Cebu City, hereinafter referred
to as the "BUYER/VENDEE".
WITNESSETH;
WHEREAS, the SELLER/VENDOR is the owner of a residential unit consisting of
FORTY (40) square meters, more or less, located at Block 14, Lot 9 Navonna Subdivision,
Babag LapuLapu City, Cebu – with existing PAG IBIG FUND HL no: 367002505812 –
taken out last December 28, 2016.
WHEREAS, the BUYER/VENDEE has offered to ASSUME said PAG IBIG Loan --
and to continue paying the aforesaid loan upon move in of the said unit, and the
SELLER /VENDOR has agreed to sell the above mentioned property under the terms and
conditions herein below set forth;
NOW THEREFORE, for and in consideration of the total sum of FIVE HUNDRED
FIFTY THOUSAND PESOS (Php: 550,000.00) Philippine Currency, and of the covenants
herein after set forth the SELLER/VENDOR agrees to sell and the BUYER/VENDEE agrees
to buy the aforesaid property subject to the following terms and conditions:
1. The total consideration shall be FIVE HUNDRED FIFTY (Php: 550,000.00) PESOS,
Philippine Currency, payable as follows:
a) Buyer/Vendee – will pay P300,000.00 before move in to the aforesaid unit with the
following schedule:
a. Cash Payment – P100,000.00 – November 11, 2019
b. Cash Payment - P100,000.00 – December 15, 2019
c. Cash Payment – P100,000.00 – Not later than December 31, 2019
b) Upon Move in – Buyer/Vendee will pay thru:
a. PDC Cheque - P31,250.00 - every 16th of the month (January to August
2019)
2. Buyer/Vendee will take charge on the monthly mortgage amortization upon its
transfer and move in to the unit –and Seller/Vendor will ensure said amortization is
current and updated. Payment Schedule of Amortization shall form part of this agreement
herein attached PAG IBIG FUND HL no: 367002505812.
3. Seller/Vendor – upon payment of the P300, 000.00 (schedule A of above payment
schedule) will provide Special Power of Attorney (SPA) –for the full representation and
complete use of the property in relation to PAG IBIG Transactions, the NAVONNA
Subdivision and Owners Association and any other legal entities that may need such
authority.
5. Upon full payment of the total ASSUMED price, the SELLER/VENDOR shall sign and
execute a DEED OF ABSOLUTE SALE in favor of the BUYER/VENDEE. The
SELLER/VENDOR shall likewise execute and/or deliver any and all documents, including
but not limited to the original copy of Transfer Certificate of Title, Tax Declaration and all
other documents necessary for the transfer of ownership from SELLER/VENDOR to the
BUYER/VENDEE.
IN WITNESS WHEREOF, the parties have hereunto affixed their signatures, this ___ day of
____________, 20__ at ______________________, Philippines.
JOSEPH DAAN MANZANARES ERNEST B. ARRIOLA
SELLER/VENDOR BUYER/VENDEE
WITH MARITAL CONSENT:
CHANTEL DELFIN BELUSO CHARITO E. ARRIOLA
Name of Seller/Vendor's Spouse Name of Buyer/Vendee's Spouse
SIGNED IN THE PRESENCE OF:
__________________________ ____________________________
ACKNOWLEDGMENT
REPUBLIC OF THE PHILIPPINES)
_____________________________ ) SS.
BEFORE ME, a Notary Public, this ____________day of ________________, personally appeared
the following:
Name CTC Number Date/Place Issued
_________________ ________________ _________________________
_________________ _________________ _________________________
This instrument, consisting of ___ page/s, including the page on which this
acknowledgment is written, has been signed on the left margin of each and every page
thereof by the concerned parties and their witnesses, and sealed with my notarial seal.
IN WITNESS WHEREOF, I have hereunto set my hand the day, year and place above
written.
Notary Public
Doc. No. ........;
Page No. .......;
Book No. .......;
Series of 20__.
