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Deed of Absolute Sale

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1 Deed of Absolute Sale on Tue Feb 16, 2016 2:55 pm


Arresto Mayor
Who should prepare the Deed of Absolute Sale, or usually who provide this? Buyer or Seller?
Is Letter of Intent necessary?

Thank you.

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2 Re: Deed of Absolute Sale on Tue Feb 16, 2016 9:33 pm


Reclusion Perpetua

Seller usually prepares this since the Deed of Absolute Sale may contain the technical description.

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3 Re: Deed of Absolute Sale on Fri Feb 19, 2016 1:39 pm


Arresto Mayor
What is the difference of Deed of Absolute Sale & Conditional Deed of Sale?

We are buying a property which is currently mortgaged in PSBANK. The SELLER is selling it for 1.8M.
We will pay her 550k upfront and 1,250,000 thru bank.

They prepared Conditional Deed of Sale. I guess it is because there are some conditions/obligations to be fulfilled by us as a buyer.
Do we need to have Deed of Absolute Sale afterwards?

We have paid earnest money already.

Is this correct? / legal?

Thank you!

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4 Re: Deed of Absolute Sale on Mon Feb 22, 2016 9:38 pm


Reclusion Perpetua
The conditional deed of sale becomes absolute upon the fulfillment of the condition usually it is the full payment. No need to execute a new one.

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