What is contract to sell
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- čas přidán 11. 09. 2024
- If you're buying real property such as a lot, condo or house, then congratulations! It's going to be helpful if you're confident with all of the documents and the title transfer process. At some point in the process, you will encounter the CONTRACT TO SELL, one of the most common legal documents out there.
But some people ask, "What exactly is a Contract to sell?" Most people keep signing it without understanding what it's for. Sometines they ask "How is this different from a Deed of Absolute Sale? How do i make one and ensure that it contains everything that i need."
If you're asking the same thing, then stick around as we talk about it on today's episode.
This episode is brought to you by "Notary not included" a guide to the 7 most requested legal forms. It's a book that teaches what legal documents do, how they're made and what to look out for. The book also includes downloadable soft copy templates which you can use for yourself. Let legal documents help you with everyday life. Go to info.legalguide.ph/notary to learn more.
Welcome to Legal Guide Philippines, where we simplify the law to help you make better choices. I'm Atty. Ramon Ramirez and I are with my partner Atty. Erwin Zagala. So today we're talking about the Contract to sell.
What is it - preparatory contract - runway
When do you use it - if not a full payment
Why is it safer to have this versus just paying - documents the steps, not left to the parties.
Does it transfer ownership
Does it allow you to take possession
what is it supposed to contain -
Parties payment terms, what you can do in the meantime, what happens if paid/failed to pay
Recap
What is it - preparatory contract - runway
When do you use it - if not a full payment
Why is it safer to have this versus just paying
Does it transfer ownership
Does it allow you to take possession
what is it supposed to contain - Parties payment terms, what you can do in the meantime, what happens if paid/failed to pay
Additional Resources
For most of you, this episode was more than enough. And if it makes your life easier then great. But there are some of you who will watch end up asking more questions, such as an attorney, what do you watch out for before you sign documents? Or, attorney, where can we get templates for everyday transactions? Or, attorney, what will happen if we have the documents notarized?
If that's you, then I invite you to check out the book, "Notary not included" where we give a crash course when dealing with legal documents. We'll talk about the lawyer's secret to making good legal documents, the three biggest myths about legal documents, and the three rules we follow when drafting for clients.
Plus, we give you a simplified template set of the seven most requested documents that you can keep forever. Get the book now at info.legalguide.ph/notary today.
Now to add to that, if you want us to tackle your question in our show, go to www.legalguide.ph and click the "Submit Topic" Button. Next, we'd like to know what's your biggest takeaway from today's video, so please write it down in the comments and let's talk about it. Lastly, if you feel we've earned a good rating, please give us a like and subscribe because it gives us feedback that we're doing a good job and it encourages us to do more videos.
One last thing... the smoothest real estate transactions I've had the privilege of assisting with we're always the ones where the expectations were clear as day. The contract to sell creates the space where you can set up the next steps each party will be taking. That way, you have a very clear ladder with the title transfer at the very top just within reach.
So wasn't that simple? Now go make better choices.
Nice
Thank you so much. Marami akong natutunan. God bless you.
You attorneys are very helpful. Super thanks.
Happy to help
Hi attys! Can you include on your next video What is the difference between Project-Based Employees vs. Regular Employees? What are the benefits of a Project-Based Employees (In a Construction Industry)? Are they entitled to sss/pagibig/philhealth benefits, 13th Month Pay/Separation Pay etc.
Thank you so much❤️
Thanks for a very clear details on ur topic
God bless ang more power
thank you
Thanks for this episode ,really interesting.More power.
Glad you enjoyed it
Grabee Thank you so much for this. May template po pala ang contract to sell?
Thanks for shedding lights to avoid further issues. Just a quick question po what possible statement yung ppwwedeng ilagay na if mawala man yung titulo you won't have to go further stepsl/court
Sir provided n rin po ako ng
deed of absolute sale.
What if po business ang binenta kaso nag ka problem sa buyer, hindi nya inoperate ang business na binili nya sa seller. Lahat ng arrears si seller padin nagbbyad. But when both parties decide to sell it, nagdedemand si buyer ng returns.
Hello atty. ano po ba ang apostille , documents mangagaling ng ibang bansa papunta sa pilipinas.
salamat atty.
Question ; if the seller lost the original title and the buyer paid 50% already but cant produce the original title . Can we cancel the contract and return the payment to the buyer . The contract stated that upon pymnt the 50 she will get the products . It take effect since 2007. Is there any expiration of contract to sell?
requirements of control to sell
How long is the contract agreement between seller and sales agents valid for? Hope you can answer my question. Thanks
No expiration po ang SPA unless nka spesify ang exp
Hi, what if you have contract to sell but the owner died while you are still paying installment?
Sir gusto Malaman kung ano Ang pag kaiba n license to sell sa contract to sell. Kc po may n I present ko Ang lisence to sell Ng developer bakit kailangan pa hanapin Ng BIR Ang contract to sell. Actually fully paid ko n po Yun lupa. Kailangan ko n ilipat sa pangalan ko.
hi po mga sir. baka po matulongan nyo po kami.
yong buyer po ng property namin ay nasa abroad po tapus mag papayment po cya in full payment through bank by using manager's check po. peru yong lola ko po tatanggap eh wla po cyang bank accnt. kaya mag oopen po kmi ng accnt. sa BDO kaya lng po hinahanapan po nila kami ng deed of sale eh sabi ko po wla pa pong nangyayaring bayaran kaya hnd pa po kmi nag deed of sale kaya hinapan nlng po nila kmi ng contract to sell as requirement para makapag open si lola ng accnt. sa BDO. tama po ba yon?
sana po matulongan nyo kmi and more power sa channel nyo
Atty may bumili po ng property namin may contract to sell po kami 2018 papo ang agreement namin 2024 napo hindi padin nila nabayaran ng buo at di nila nasunod ang nasa contract dahil 12 months lang po usapan namin pahirapan po masingil ano po kaya dapat naming gawin atty. Salamat po.
Paano naman kung Hindi napirmahan Ang CTS at babawiin Ang nahulog na pera?
Thanks for this info.
Hi Atty, we are acquiring a pre-selling property and we are done with downpayment for 18 months. But the house was not built yet. We were asked to sign the contract to sell but the house was not constructed yet even the drainage of the unit was not prepared yet. Is this possible? do we need to sign the contract to sell as we were asked to? Or we have to wait for the house to be fully constructed first?
Hello po attoryney. Bibili po ako ng condo next month sa friend ko dito sa Dubai, siya po ang nakapangalan sa bank loan ng Bdo pero ako po ang magmomontly paying ng ammortization. Help nyo po ako sa pagdraft ng contract to sell. Thank you po in advance.
New subscriber here po ❤.
Atty? Ang tanong ko po sino po dapat ang mag babayad sa contract to sell sa abogado?
Atty ano po ba ang nakapaloob SA contract to sell at contract for sale .. KC po may kinuha po Kaming housing , almost 6 yrs na wala.pa din po nakatayo. . Sept 2016-May 2018 nagpayment po Kami Ng reservation and down payment . Tapos pinapirma Kami Ng contract Ng Month of May Kasi Sabi Ng staff ni developer bayad na Kami . Pumirma po Kami Ng Month of May Ng contract ... Kailan po ba pinapirma Ng contract to sell at Ng contract for sale ? Kasi po Ng makaharap namin si developer last March 17, ang Sabi Di pa daw Kami nakafull payment .. SA totoo Lang din po Di kumpleto recibo namin dahil minsan iniuutos non ang pagbabayad . Tinqnggap po namin un sinabi nila na Di Kami nakakumpleto pa Ng payment para SA DP..ang nakakapagtaka po bakit Kami pinapirma na Ng contract Kung Di pa Pala kumpleto ang bayad namin. Ngayon po inabot na Ng 6 yrs wala pa nakatayo na bahay simula nuon Sept. 2016.
Atty Puede ba mabale wala un pinirmahan namin contract dahil SA sinasabi nilang Di pa Pala kumpleto ang bayad namin SA equity/down payment ? ..Puede po Kaya namin mabawi Ng buo ang aming naibayad na SA equity/DownPayment ?
Sept. 2016-May 2018 DownPayment
Sept.1016 ;2022 wala po naitatayo na bahay .
How about agents contract to sale ? As a middleman, ang ATS kasi pang broker lang ata
Atty.nakabayad na ako ng 90 percent of the total amount of the lot can but the seller didn't gave me the copy of contract to sell until now
may question po ako, bibili po sana ako ng lot sa isang subd. nagbayad na rin po ako ng reservation fee at nag bigay na rin po ako ng PDC para po sa monthly amortization, ang problem ko po, malapit na po ang first monthly amortization ko pero wala pa rin pong contract to sell ako na signed, ppwede ko po bang hindi bayaran ang monthly amortization ko habang hindi pa ako binibigyan ng contract to sell?
Maaari pa dn naman pong irefund ang binayad kapag contract to sell when the buyer decided to stop the payment?
Depende po sa terms ng contract. Mas mabuti po to consult your lawyer para ma interpret po ng maayos.
Atty. Makitanong lang ang lupa ko bininta ko may buyer na gosto bumili pero Niya manghingi Siya ng contract to sell dahil mag loan xa sa bank kaso lang Wala siyang down payment ano ma advice po ninyo atty. Salamat pod god bless
How much poh magpa notarized contract to sell of 2M for example?
Pano po kung binalik yung mga payment sa buyer sa contract to sell.dahil nagbago isip na hindi na ibebenta.anong pde mangyari
Bakit po kaya hindi na lang tawagin na "Purchase Contract"?
Hi Attys! What if the seller is filing palang po ng lost of title, may magiging habol po ba kame nun if may mag claim na nasa knila ang original copy ng title at nakasanla ito sknila before pa ng contract to sell nmen? Tia sa pag sagot po! Thanks for the info about contract to sell.
Ask ko lang po. If yun cts may conditions for the buyer to shoulder the cgt, dst, transfer, etc, need pa ba ng itago ng seller ang notarized copy nito? Fully paid na ang buyer and binigyan na ni seller ng doas with blank date si buyer pero ang obligations like cgt hindi pa inayos ni buyer next time na daw nya bayaran.
Hi Attys! What if I am the buyer in the CTS but I want to assign half of the property to my brother who was not a signatory during the CTS signing. Can the CTS still be changed to add my brother to the equation before the payments are complete and the DOAS issued?
I'm buying a land po, and I asked the seller to give me a copy of the contract to sell- but sabi po I don't get one until I pay 20% of the selling price. Tama po ba yun?
pno po kung mamatay ang seller habang naghuhulog po ng payment?
atty ung binibili ko bahay at lupa ang contract to sell po nia is xerox cppy lang po kasi din dw ang bininigay ng developer,safe po ba ako n bilin ang property
Hindi po common ito contract to sell. Maraming mga oppotunista na buyer sa walang alam na seller kaya kaso ang dulo ng kasunduan.
hello po, im selling out my property im just wondering po if safe ba na ibigay ang copy ng title and contract to sell sa broker? he's asking for it po kc kaya kang mejo hesitant akong ibigay
Pwede ko pa po ba i-offer sa ibang seller ang property namin if may contract to sell na po sa isang buyer? Thank you po in advance atty❤
Hello attys. What if I didn't get to sign the Contract to Sell, only the reservation contract. I have paid the reservation in full, however only paid part of the DP and stopped the payment and don't want to go through the sale, but want to get all my payments refunded. What and how should I do? Thanks in advance.
Same po
pwede po ba ung deed pf conditional sale instead na contract to sell?
Good afternoon Attorney naka bili ako nang Bahay sa Deca homes good as cash Attorney wla po ako hawak sa contract to sell paano kaya in Attorney pls help me.Ang hawak ko lng deed absolute sale.maraming salamat po sana mapansin
Good day, question po if both buyer nakatira bansa at nag signed ng CTS outside the Philippines. Sabi ni agent para dw di na magpa consularize sa embassy..uuwi nia nalang sa pinas without us giving SPA.allow po b yun?thank u!
Liko 2 pwede ba directvtocthecpoijt nag legal way😊
What if I never signed the contract to sell (because the real estate firm never sent it) , but only the reservation document indicating I agree to be bound by the contract to sell terms. Would I still have a fighting chance to win the demand for all payments i have made to be refunded in full despite having paid only 9 months in installment?
There are some other details that need to be clarified before a proper recommendation can be given. If you want to explore this, you can request a free legal consultation with us at www.legalaccess.ph just choose DEVELOPER issues from the options.
How about sir thru pag ibig housing loan. Ready occupancy na po .
Hi attorney, please give me some advice. Im selling now my house & lot and ang mode of payment is CASH or bank financing. Meron na akong buyer at thru bank financing ang preferred payment nya. The selling price of the property is 4M. We agreed na 1M ang cashout downpayment nya sakin and yung balance na 3M ang iloloan nya sa bank. Ask ko lang po kung need pa ba nmin mag execute ng Contract to Sell? Or deretcho DOAS na? Since mag bank financing po siya, ano po ang pinaka safe na proseso gawin? Mag ask muna ako ng Letter of Guarantee from the bank and bayaran nrin nya ung 1M cash out bago mag execute ng DOAS? Im not sure kung need pa po ng CTS? Thank you attorney.
contract to sell muna for safeguard tapos tsaka ka magDOAS once fully paid na
need pa po ba ipa-notarize Yung CTS?
What if the seller sells the same patch of land to 2 buyers? Issues 2 CTS. Can he do that? and who can own the land?
Then the seller is committing fraud.
Papano kung pamagkin nya May hawak ng contract to sell at ang sbi derecta n sa buyer yung Pag lipat ng title and magkita sa developer papano k nakakasiguro yun nga yung totoo Tao sa contract to sell hnd nila nanakaw
Pano kpag nkalagay s cts ying amount ng pagtransfer ng title let say 30k ang nkalagay pero nung inask ko ang agent magkano babayaran s pagtransfer ang sabi ay 60k pwede po b yun na babaguhin nila ying nkalagay n amount s cts? Pwede po b ako umapila?
Marami pa kaming kailangan i-clarify para matulungan po kayo. You can book a legal consultation at www.legalaccess.ph (choose TRANFERRING LAND) para po makapag recommend kami ng solution.
Hi what happens if the seller is failing to building your house ? Because we bought a property and paid more then 20% of payments and the project is stopped and none of one house built yet what we can do to get our money back or just let it go ?
Hi Attila, there are multiple options for this. Negotiations, filing a case, wait it out... But you need to consult a lawyer to find out the best option. If you want to apply for a free consultation with us, you can book at www.legalaccess.ph and choose Property Developer from the options.
Hello po mga sir. May bisa po ba at pwedeng ipag laban ang contract to sell between seller and buyer ng lupa na walang TECHNICAL DESCRIPTION pa nung nagka pirmahan kasi tru pag ibig po. Nakapag down napo ng 15% pero after 5yrs hindi natapos ang proseso, pang 5yrs na lumabas ang technical description. Kung nag bago po ang isip ng seller na gusto nalang nila i refund ang down payment para mai benta sa iba ng mas mahal,...paano po kung ayaw namin magpa refund dahil gusto ko ituloy ang pag bili, ano po pwedeng gawin? Salamat po.
Good morning po
Ask ko lang po sana kung dapat naka indicate sa CTS ng kontrata yung date of turn over po ng unit?
Anu po magandang gawin kung hindi po ito naka stipulated sa kontrata?
Nakabayad na po ako ng almost 2 years and 2 months sa developer Bale tapos ko na po yung equity ko at naka continous payment po ako sknla at meron na po akong notice of approval from pag ibig, kaso po ang problema as of now 0% po ung unit ko kaya hindi makaproceeed sa loan take sa pag ibig. Wala po maibigay na turn over date yung developer ko pero naka continous payment po ako. Anu po ang dapat ko gawin sa sitwasyon ko po?
Salamat po sa magiging tugon
Kaya ako binasa ko ang cts at ng mabasa ko na walang compliion date at turn over date binawa ko ang binayad ko na rs at dp.importabte na basahin ang cts ng mga developer kasi bago mag go kasi tayong mga buyer ang kawawa sa huli
@@rowenaestelle4018 totoo po kayo.
Ofw po kasi ako mother ko po na 67 years old yung nagpirma dun sa cts ko but hindi nakaindicate dun yung delivery purchase hindi din magresponse ang Imperial Homes Corporation bilang Developer.
Ang binibigay lang nila sa akin ay verbal date of turn over which hindi nasusunod up to now 0% pa din yung unit
Hi Momshie Masha, lots of things to clarify before we can recommend. I think it would be best if you consult a legal team for this so options can be considered. You can book a consult with us at www.legalaccess.ph and choose PROPERTY DEVELOPER ISSUES.
If you want pro bono services naman, this link would be helpful: www.legalguide.ph/where-to-ask-for-free-legal-assistance