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A Deed of Sale is a contract where the seller delivers property to the buyer and the buyer pays the purchase price. The Deed of Sale results in ownership over the property being transferred to the buyer upon its delivery.
If you fall behind on payments, the contract can be terminated and you will lose whatever equity was previously built. Furthermore, if the seller has a mortgage and defaults on their payments, you may lose the property even though your own payments to the seller are current.
The closing is an important day for you as a home seller. You will transfer the property to the buyer and be paid for it, fully pay off any mortgages you took out and pay other closing costs and real estate agent commissions, and receive your sales proceeds.
Vendee: The purchaser of realty - the buyer under a contract for deed.
A contract for deed, also known as a bond for deed, land contract, or installment land contract, is a transaction in which the seller finances the sale of his or her own property.
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As a legal instrument or document evidencing a sale, the Deed of Absolute Sale should be also docHubd, which requires a fee of about 1% to 1.5% of the propertys selling price, but no lower than Php1,000.

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