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Contract To Sell Pag Ibig

This contract summarizes the agreement between Ronnel G. Espeso (seller) and Jenifer D. Guevarra (buyer) for the sale of a house and lot located in Bacolod City. The seller agrees to sell and the buyer agrees to buy the property for PHP450,000, which the buyer will obtain as a loan from PAG-IBIG. The loan proceeds will be paid directly to the seller. The seller will allow title transfer to the buyer once PAG-IBIG issues a letter of guarantee. Taxes will be split between the parties. The contract is binding to heirs and assigns of both parties.

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154 views2 pages

Contract To Sell Pag Ibig

This contract summarizes the agreement between Ronnel G. Espeso (seller) and Jenifer D. Guevarra (buyer) for the sale of a house and lot located in Bacolod City. The seller agrees to sell and the buyer agrees to buy the property for PHP450,000, which the buyer will obtain as a loan from PAG-IBIG. The loan proceeds will be paid directly to the seller. The seller will allow title transfer to the buyer once PAG-IBIG issues a letter of guarantee. Taxes will be split between the parties. The contract is binding to heirs and assigns of both parties.

Uploaded by

Sino to
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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CONTRACT TO SELL

KNOW ALL MEN BY THESE PRESENTS:

This CONTRACT made and entered into in Bacolod City, Philippines, this
20th day of February, 2023, by and between:

Ronnel G. Espeso, of legal age, and with residence at Lot 34, Block 40,
East Homes 5 Subdivision, Brgy. Mansilingan, Bacolod City, hereinafter referred to
as the SELLER/VENDOR;

- AND -

Jenifer D. Guevara, of legal age and with residence at Lot 34, Block 40,
East Homes 5 Brgy. Mansilingan, Bacolod City, hereinafter referred to as the
BUYER/VENDEE;

WITNESSETH: THAT

WHEREAS, SELLER/VENDOR is the absolute and registered owner of a


house and lot located at Lot 34, Block 40, East Homes 5, Subdivision, Brgy.
Mansilingan, Bacolod City, with an area of 66 square meters, covered by TCT No.
092-2014007660, issued by the Registry of Deeds, City of Bacolod;

WHEREAS, the BUYER/VENDEE would like to avail the said property


through PAG-IBIG;

WHEREAS, the SELLER/VENDOR is willing to grant the


BUYER/VENDEE this request;

NOW THEREFORE, for and in consideration of the foregoing premises,


the SELLER/VENDOR agrees to sell and the BUYER/VENDEE agrees to buy the
above described house and lot under the following terms and conditions:

• The BUYER/VENDEE shall apply for a house and lot purchase loan
with PAG-IBIG in the amount of FOUR HUNDRED FIFTY
THOUSAND PHILIPPINE PESOS (PHP450,000.00) to pay the
SELLER/VENDOR for the the house and lot. The proceeds/check of
the PAG-IBIG loan shall be paid to and in the name of
SELLER/VENDOR;

• For purposes of the loan, the SELLER/VENDOR shall allow the


transfer of the title in the name of the BUYER/VENDEE, but only after
the issuance of a letter of guarantee from PAG-IBIG;

• The capital gains tax and notarial fees shall be to the account of the
SELLER/VENDOR, while the transfer tax and documentary stamp
tax shall be to the account of the BUYER/VENDEE.

This Contract shall be binding upon the heirs, successors, executors,


administrators and assigns of the respective parties hereto.
IN WITNESS WHEREOF, the parties have hereunto set their hands at the
place and date first above written:

Ronnel G. Espeso Jenifer D.Guevarra


SELLER/VENDOR BUYER/VENDEE

SIGNED IN THE PRESENCE OF:

Witness Witness

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