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Contract to Sell with Installment Plan

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1 Contract to Sell with Installment Plan on Fri Dec 02, 2016 1:04 am

Kulasified


Arresto Menor
Hello po!

Meron po kaming buyer ng lupa. Under tax declaration pa po and under ng namantay naming Lola. Ok naman lahat ng papers (NSO, Extra judicial Settlement, etc.,). The only problem is yung buyer.

Una po kasi namin usapan is

30% DP Contract to Sell (para mabayaran ko din Estate Taxes)
35% BIR Clearance/Register of Deeds
35% Full Payment pag lilipat na sa name niya.

Gusto na nya kasi mangyari is Deed of Extra Judicial Settlement with sale and isang agreement regarding payment. Sabi niya i declare namin na 1M lang ang lupa for BIR purposes which I understand. So pumayag ako. ang kaso ung Payment arrangement namin is hindi na manonotarized.

Sa pagkakaintindi ko po, once I signed the Deed, mawawalan na po ako ng habol sakanya.

Ang sabi po sakin ng friend ko, pwede ako pumayag sa ganon pero meron padin Contract to Sell with Installment Plan na notarized and have the buyer issue checks.

Ang tingin ko po kasi i-loloan nya ang lupa sa bank. kaya nya gusto lipat agad agad name sakanya.

Pa tulong naman po if anong document mas maganda para hindi naman kami matalo sa huli pag hindi na sya nag bayad.

Maraming Salamat po!

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2 Re: Contract to Sell with Installment Plan on Fri Dec 02, 2016 1:34 am

Lunkan


Reclusion Perpetua
Who want the payment steps instead of in one step??

To cover the BUYER, property tax and other property related depts as electric, better the BUYER pay them to be sure they are paid because such depts follow the property, and a title can't be transfered to the new owner until such are paid.
At SAME time as that are the sell documents handed over to the buyer,
and the rest of the payment is handed over to the seller.

IF something is unclear concerning who are allowed to sell, then payment can be hold until such are cleared.

Some of the taxes and fees depending of the sell belong to the seller and some to the buyer. Such can be handled afterwards by each of them.

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3 Re: Contract to Sell with Installment Plan on Fri Dec 02, 2016 1:59 am

Kulasified


Arresto Menor
I am sorry Sir Lunkan but I got lost with your reply.

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4 Re: Contract to Sell with Installment Plan on Fri Dec 02, 2016 4:12 am

Lunkan


Reclusion Perpetua
Kulasified wrote:I am sorry Sir Lunkan but I got lost with your reply.
OK Smile
The main was:
why don't you do all at same time?

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5 Re: Contract to Sell with Installment Plan on Fri Dec 02, 2016 4:32 am

Kulasified


Arresto Menor
I am actually looking for better ways or better contract/document in our transaction.

Since the buyer wants to execute a deed of extrajudicial with sale already, it would be unfair for me since its like waiving my rights on the property already.

There is no question with who will shoulder the expenses since that has been agreed upon already. What worries me is the document.

If we will have the DEJS with Sale and have a Contract to Sell with Installment Plan. Would that DEJS w/Sale contradicts the Contract to Sell? Even if the DEJS states lower price and C2S was paid partially?

And if there is any other contract that would better suit the scenario for our protection.

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6 Re: Contract to Sell with Installment Plan on Fri Dec 02, 2016 4:34 am

Kulasified


Arresto Menor
Lunkan wrote:
Kulasified wrote:I am sorry Sir Lunkan but I got lost with your reply.
 OK  Smile  
The main was:
why don't you do all at same time?

All at the same time? meaning what? TIA

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7 Re: Contract to Sell with Installment Plan on Fri Dec 02, 2016 5:55 am

Lunkan


Reclusion Perpetua
I have other specialities than property, so I hope someone else can answer better than I.

I haven't heared of Extrajudical sale. Are you sure the buyer don't mean Extrajudical concerning inheritance from your lola to decide who is OWNER now. That make sence, because to be safe for the buyer, it need to be cleared.

But a thing, which don't make such sence, is why the last 35% would be paid later than compleete documents are LEFT to Register of Deeds, because they will transfer the title to the new owner's name...

That's what I ment with why not doing all at same time.

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