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    Reservation Agreement - Buying Template

    Uploaded by

    Rolly Pagtolon-an
    This reservation agreement is between a seller and buyer for the purchase of a unit. It specifies that the buyer will pay a reservation fee that will go towards the net selling price. It also specifies the net selling price and states that the seller will not offer the unit to others while the agreement is in effect. The agreement is valid until a specified date, at which point the parties must enter into a purchase agreement or the reservation fee will be returned. It also specifies the real estate commission that will be paid.

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    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd

    Reservation Agreement - Buying Template

    Uploaded by

    Rolly Pagtolon-an
    6K views3 pages
    This reservation agreement is between a seller and buyer for the purchase of a unit. It specifies that the buyer will pay a reservation fee that will go towards the net selling price. It also specifies the net selling price and states that the seller will not offer the unit to others while the agreement is in effect. The agreement is valid until a specified date, at which point the parties must enter into a purchase agreement or the reservation fee will be returned. It also specifies the real estate commission that will be paid.

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    Original Title

    Reservation Agreement _Buying Template

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    This reservation agreement is between a seller and buyer for the purchase of a unit. It specifies that the buyer will pay a reservation fee that will go towards the net selling price. It also specifies the net selling price and states that the seller will not offer the unit to others while the agreement is in effect. The agreement is valid until a specified date, at which point the parties must enter into a purchase agreement or the reservation fee will be returned. It also specifies the real estate commission that will be paid.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    6K views3 pages

    Reservation Agreement - Buying Template

    Uploaded by

    Rolly Pagtolon-an
    This reservation agreement is between a seller and buyer for the purchase of a unit. It specifies that the buyer will pay a reservation fee that will go towards the net selling price. It also specifies the net selling price and states that the seller will not offer the unit to others while the agreement is in effect. The agreement is valid until a specified date, at which point the parties must enter into a purchase agreement or the reservation fee will be returned. It also specifies the real estate commission that will be paid.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 3

    RESERVATION AGREEMENT

    (Buying of Units)

    KNOW ALL MEN BY THESE PRESENTS:

    This Reservation Agreement is made and entered into by and between:

    __________________, of legal age, _________ (citizenship), and


    with residence and postal address at
    _________________________________________________________,
    hereinafter referred to as the "SELLER";

    -AND-

    __________________, of legal age, _________ (citizenship), and


    with residence and postal address at
    _________________________________________________________,
    hereinafter referred to as the “BUYER”;

    SELLER and BUYER are hereinafter after collectively referred to as “PARTIES”,


    individually as “PARTY”.

    RECITALS:

    WHEREAS, the SELLER is the owner of (a right to) Unit _____ Tower ________
    Residences located at
    ____________________________________________________________ hereinafter
    referred to as the “UNIT”;

    WHEREAS, The SELLER offered to sell the UNIT and the BUYER desires to
    purchase the same subject to the terms and conditions of the Memorandum of
    Agreement/Deed of Assignment and Transfer of Rights/Deed of Absolute Sale,
    whichever is applicable to be executed by the parties herein;

    NOW THEREFORE, for and in consideration of the mutual premises


    contained herein, the SELLER and the BUYER hereby agree and stipulate the
    following Reservation Terms and Conditions:
    TERMS AND CONDITIONS

    1. The BUYER shall pay the SELLER a monetary consideration in the


    amount of PESOS: ______________ (₱ _________) Philippine Currency as
    Reservation Fee which shall form part of the Net Selling Price of the
    UNIT as indicated in Paragraph 2 of this Agreement.

    The BUYER’s payment Reservation Fee shall constitute the BUYER’s


    guarantee of his intent to purchase the UNIT; likewise, receipt of the
    SELLER of such Reservation Fee from the BUYER shall constitute the
    SELLER’s willingness to sell the UNIT to the BUYER;

    2. The Net Selling Price for each unit shall be


    ___________________________________ Philippine Currency (₱ _________)
    payable to the SELLER

    3. Upon the receipt by the SELLER of the Reservation Fee, the SELLER
    warrants that he shall no longer offer the UNIT to be sold to any other
    individual, business entity or buyer, nor shall the SELLER be allowed to
    receive reservation or purchase payment from any individual, business
    entity or buyer within the validity period.

    Commission of such act within the prescribed period stipulated herein,


    shall automatically constitute the SELLER’s breach of this Agreement
    and he shall be liable to the BUYER of the penalties to be stipulated
    herein.

    4. This Reservation Agreement shall be in effect and binding between the


    parties from the date of execution until ___________________. The
    PARTIES shall enter into a Memorandum of Agreement or Deed of Sale
    or Deed of Assignment/Transfer of Rights, whichever is applicable,
    within the said period.

    In the event that no Memorandum of Agreement or Deed of Sale or


    Deed of Assignment/Transfer of Rights is entered into within the
    prescribed period herein set forth, the SELLER shall return the
    Reservation Fee to the BUYER. However, in the event that the BUYER
    fails to pay in full the entire Selling Price within the agreed period for
    whatever cause, then the Reservation Fee will be forfeited by the
    SELLER as and for damages.

    5. In order for the Broker/salesperson to receive a commission of


    _________________________________________(P___________________),he/
    she must introduce/assist his/her Buyer to _______________ and facilitate
    the sale until its closing. His/her commission is on top of the Net Selling
    Price of ___________________. Negotiation will be done at
    _________________ office with the assistance of the authorized sales staff
    under the supervision of the company’s licensed real estate broker.

    ________________ ___________________

    BUYER SELLER

    Assisted by:

    ______________________
    Broker/Salesperson
    PRC ID No. __________
    HLURB No.__________

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