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  • DEED OF ABSOLUTE SALE (Pag-Ibig Lot)

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    Bong Roque
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    This document is a deed of absolute sale for two parcels of land from the Sellers to the Buyers. The Sellers agree to sell the properties, identified as Block 11 Lots 12 and 14, to the Buyers for PHP 2,000,000. The Buyers will apply for a housing loan from Pag-IBIG Fund to pay the purchase price, and designate the Sellers' attorney-in-fact to receive the loan proceeds. Upon loan approval, the Buyers will submit documents to Pag-IBIG and process the title transfer. The Sellers will then collect the loan proceeds from Pag-IBIG as payment for selling the properties.

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    DEED OF ABSOLUTE SALE (Pag-ibig Lot)

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    This document is a deed of absolute sale for two parcels of land from the Sellers to the Buyers. The Sellers agree to sell the properties, identified as Block 11 Lots 12 and 14, to the Buyers for PHP 2,000,000. The Buyers will apply for a housing loan from Pag-IBIG Fund to pay the purchase price, and designate the Sellers' attorney-in-fact to receive the loan proceeds. Upon loan approval, the Buyers will submit documents to Pag-IBIG and process the title transfer. The Sellers will then collect the loan proceeds from Pag-IBIG as payment for selling the properties.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
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    4K views2 pages

    DEED OF ABSOLUTE SALE (Pag-Ibig Lot)

    Uploaded by

    Bong Roque
    This document is a deed of absolute sale for two parcels of land from the Sellers to the Buyers. The Sellers agree to sell the properties, identified as Block 11 Lots 12 and 14, to the Buyers for PHP 2,000,000. The Buyers will apply for a housing loan from Pag-IBIG Fund to pay the purchase price, and designate the Sellers' attorney-in-fact to receive the loan proceeds. Upon loan approval, the Buyers will submit documents to Pag-IBIG and process the title transfer. The Sellers will then collect the loan proceeds from Pag-IBIG as payment for selling the properties.

    Copyright:

    © All Rights Reserved
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    of 2

    DEED OF ABSOLUTE SALE

    (Pag-Ibig Lot)

    KNOW ALL MEN BY THESE PRESENTS:

    This Contract is made and entered into between:

    ______________, Filipino, of legal age, married to ______________, also of legal age, and
    residents of ______________, represented in this act by their Attorney-in-Fact, ______________,
    (Special Power of Attorney here attached), herein referred to as the SELLERS,

    - and –

    ______________, of legal ages, Filipino Citizens, and residents of ______________,


    hereinafter to as the BUYERS.

    ANTECEDENTS

    The SELLERS are the registered owners of two (2) parcels of land with improvement
    (residential house), identified as Blk. 11, Lots 12 and 14, ______________, covered by two land
    titles and more particularly described as follows:

    The BUYERS have offered to purchase from the SELLERS the afore-described parcels
    of land, and the SELLERS have accepted the offer.

    ACCORDINGLY, it is hereby mutually agreed upon as follows:

    SECTION 1. For and in consideration of the sum of Two Million Pesos (Php 2,000,000.00),
    Philippine Currency, inclusive of miscellaneous charges, to be paid in the manner herein below
    specified, the SELLERS hereby sell, cede and convey to the BUYERS, their heirs,
    administrators, and successors-in-interest, the aforedescribed properties under the following
    terms and conditions:

    1.1. SELLERS acknowledge that BUYERS will apply for a housing loan with Pag-
    IBIG Fund and will use the loan proceeds to pay the consideration of this sale. For
    this purpose, BUYERS will specifically designate the SELLERS’ Attorney-in-
    Fact ______________as the assigned Payee to whom the Pag-IBIG loan proceeds
    will be released.

    1.2. Accordingly, upon approval of such loan application, BUYERS shall initially
    furnish SELLERS the copies of the Pag-IBIG Notice of Approval and Letter of
    Guarantee. For their part, SELLERS shall turn-over the Owner’s Duplicate
    Copies of the titles and other requisite documents to the BUYERS, for submission
    to Pag-IBIG Fund.

    1.3. BUYERS shall then proceed to process and pay the transfer of the land titles in
    the BUYERS’ names, and pay all appropriate taxes.

    1.4. After all Pag-IBIG requirements are complied with, SELLERS, through their
    Attorney-in-Fact ______________, shall collect and receive the loan proceeds from
    Pag-IBIG Fund, which shall be the payment for the purchase price of the lots.
    Page 2 of 2 2

    SECTION 2. OTHER MONETARY OBLIGATIONS OF THE SELLERS

    2.1 SELLERS agree to shoulder Capital Gains Tax, Documentary Stamp Tax,
    Transfer Tax, Registration Fees, and Documentation Fee of this contract and other
    related taxes and expenses due and payable in connection with the transfer of the
    titles of the properties herein sold;
    2.2 SELLERS shall likewise shoulder any taxes, assessment or fees on the sale and/or
    transfer of the title to the BUYERS which is now or hereafter be imposed by the
    government;

    IN WITNESS WHEREOF, the Parties have signed this document on this _____ day of
    ______________.

    Sellers

    By:
    _____________________________
    _____________________________ Buyers
    Attorney-in-Fact

    WITNESSES:
    _______________________ _______________________

    ACKNOWLEDGMENT

    Republic of the Philippines }


    ______________ } S.S.

    BEFORE ME, a Notary Public, personally appeared:

    Name Government-Issued ID Expiry

    personally known to me and/or identified through competent evidence of identity as the persons
    who executed, as their free and voluntary act and deed, the foregoing document consisting of
    four (4) pages, including the page on which this acknowledgement is written. Moreover, they
    represented to me that the signatures on the instrument/document were voluntarily affixed by
    them for the purpose stated therein; and declared that if any of them acts in a particular
    representative capacity, he has the authority to sign in that capacity.

    WITNESS MY HAND AND SEAL, this ____ day of ____________, 2022 in the
    ______________.

    Notary Public

    Doc No.  
    Page No.  
    Book No.  
    Series of 2022.

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