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Who typically prepares the contract in the sale of a home?

Most commonly, the buyer's real estate agent will write up and prepare the purchase agreement. Note that agents (not being practicing attorneys themselves) cannot create their own contracts.

Do condos only last 50 years?

A common misconception people make when they start looking into buying a condominium is they hear a condominium's life only lasts 50 years. That is not true. There is more to condo living than that.

What is contract to sell in Philippines?

A Contract to Sell refers to an agreement between a seller and a buyer. The contract shows that the seller promises to sell something to the buyer and the buyer also promises the seller the buy the property. However, the contract does not instantly transfer the right to the buyer even when this contract is signed.

Who draws up the contract?

Who Draws The Contract Agreement? The question remains: if the buyer and seller agree on a sale, who will be responsible for drafting the purchase agreement? In most cases, if the seller doesn't have an agent, the buyer's agent will end up doing the majority of the work.

What happens to condo in Philippines after 50 years?

Your condominium doesn't have a lifespan, but the corporation managing it has one. In the Philippines, 50 years is the lifespan of all companies and corporations, big or small. However, the corporation can still be renewed for another 50 years, so your condominium ownership does not necessarily end at that point.

contract to sell condominium

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Who are the parties to the contract to buy and sell?

Sometimes called a sale of goods contract, a sales agreement, or a purchase agreement, a sales contract outlines the terms of a transaction between two parties: the buyer and the seller.

Can you sell a condo before paying it off Philippines?

Because the property is an integral part of the debt agreement, people think that the property cannot be sold until the debt is paid up. But actually, it can be. The buyer will just have to agree that he will assume the obligation to pay the remaining debt, to avoid complications later on.

Who will make the contract to sell?

A Contract to Sell refers to an agreement between a seller and a buyer. The contract shows that the seller promises to sell something to the buyer and the buyer also promises the seller the buy the property.

How can I sell my condo unit fast?

10 Tips For Selling a Condo Fast Understand HOA/Condo Association Requirements. Often, condos are managed by a home-owners/condo association. ... Sell at the Right Time. ... Set the Right Price. ... Consider Buyer Demographics. ... Stage to Sell. ... Develop a Marketing Strategy. ... Pass on the Open House. ... Prepare for a Home Inspection.

What does it mean to sell a contract?

a formal agreement in which a person, company, etc. agrees to sell something to a buyer at a time in the future, and the buyer agrees to buy it: A conditional contract is similar to a normal contract to sell, except that the contract is subject to the fulfilment of certain conditions.

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