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    Earnest Money Agreement

    Uploaded by

    Atty. Jefferson B. Yap
    This earnest money agreement is between Juan dela Cruz and Pedro Santos for the sale of a 150 square meter parcel of land in Davao City for PHP4.5 million. Juan dela Cruz paid a PHP900,000 reservation fee that will go towards the purchase price. He will take out a PHP3.6 million bank loan to cover the remaining balance, and will pay any difference if the loan is insufficient. Juan dela Cruz will also be responsible for capital gains tax and other transfer fees. Pedro Santos agrees not to offer the property to others during the agreement's validity. Both parties signed to finalize the deal.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Earnest Money Agreement

    Uploaded by

    Atty. Jefferson B. Yap
    361 views2 pages
    This earnest money agreement is between Juan dela Cruz and Pedro Santos for the sale of a 150 square meter parcel of land in Davao City for PHP4.5 million. Juan dela Cruz paid a PHP900,000 reservation fee that will go towards the purchase price. He will take out a PHP3.6 million bank loan to cover the remaining balance, and will pay any difference if the loan is insufficient. Juan dela Cruz will also be responsible for capital gains tax and other transfer fees. Pedro Santos agrees not to offer the property to others during the agreement's validity. Both parties signed to finalize the deal.

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    This earnest money agreement is between Juan dela Cruz and Pedro Santos for the sale of a 150 square meter parcel of land in Davao City for PHP4.5 million. Juan dela Cruz paid a PHP900,000 reservation fee that will go towards the purchase price. He will take out a PHP3.6 million bank loan to cover the remaining balance, and will pay any difference if the loan is insufficient. Juan dela Cruz will also be responsible for capital gains tax and other transfer fees. Pedro Santos agrees not to offer the property to others during the agreement's validity. Both parties signed to finalize the deal.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    361 views2 pages

    Earnest Money Agreement

    Uploaded by

    Atty. Jefferson B. Yap
    This earnest money agreement is between Juan dela Cruz and Pedro Santos for the sale of a 150 square meter parcel of land in Davao City for PHP4.5 million. Juan dela Cruz paid a PHP900,000 reservation fee that will go towards the purchase price. He will take out a PHP3.6 million bank loan to cover the remaining balance, and will pay any difference if the loan is insufficient. Juan dela Cruz will also be responsible for capital gains tax and other transfer fees. Pedro Santos agrees not to offer the property to others during the agreement's validity. Both parties signed to finalize the deal.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
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    EARNEST MONEY AGREEMENT

    Received from JUAN DELA CRUZ, of legal age, Filipino, married, and a resident
    of Surigao del Sur, Philippines, the sum of NINE HUNDRED THOUSAND PESOS
    (PHP900,000.00), representing Earnest Fee for payment of the sale of a parcel of land
    consisting of One Hundred Fifty (150) square meters, more or less, situated at Sasa,
    Davao City and covered by Transfer Certificate of Title No.__________, hereinafter
    referred to as the SUBJECT PROPERTY.

    This RESERVATION FEE shall form part of the total purchase price in the
    amount of FOUR MILLION FIVE HUNDRED THOUSAND PESOS
    (Php4,500,000.00).

    The remaining balance of the purchase price in the amount of THREE MILLION
    SIX HUNDRED THOUSAND (Php3,600,000.00) shall be covered by a Bank Financing.
    If the approved loan of the said bank financing is insufficient to cover the remaining
    balance, the BUYER shall pay the SELLER the difference shall be payable in six months

    The BUYER shall bear the payment of the Capital Gains Tax, the Documentary
    Stamps Tax, the Transfer Tax, the Registration Fee and all other expenses as a
    consequence of the transfer of title to the property under BUYER’s name.

    The BUYER hereby reserves the exclusive right to purchase the aforementioned
    property and the SELLER cannot offer the aforementioned property to any third party
    during the validity of this agreement.

    IN WITNESS WHEREOF, the parties have hereunto affixed their signatures, this


    ___ day of ___________________ 2019 at Davao City, Philippines.

    PEDRO SANTOS JUAN DELA CRUZ


    Seller Buyer

    Republic of the Philippines )


    City of Davao ) s.s.
    X------------------------------------------/

    ACKNOWLEDGMENT

    BEFORE ME, a Notary Public for and in the City of Davao, this ___day of
    ________________ at Davao City, Philippines, personally appeared the foregoing parties
    with their corresponding competent evidence of identity, known to me to be the same
    persons who executed the foregoing instrument and they acknowledged to me that the
    same is their free act and voluntary deed.

    The foregoing instrument consists of two (2) pages, including this page whereon
    this acknowledgement is written, has been signed by the above-named persons and
    witnesses on each and every page hereof, sealed with my notarial seal, and relates to the
    said parcel of land covered by Transfer Certificate of Title No. ______________.

    Earnest Money Agreement


    1|Page
    WITNESS MY HAND AND SEAL at the place and date first above- written.

    Doc No.: _____;


    Page No.: _____;
    Book No.: _____;
    Series of 2023.

    Earnest Money Agreement


    2|Page

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