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Earnest money receipt agreement

1. EARNEST MONEY RECEIPT AGREEMENT<br /> <br /> <br />Received from (Name of Buyer) with postal
address at ( Address), the sum of (Amount in Words) (P 000,000.00) covered by ABC Bank, check #
00000000 dated March 1, 2010 representing EARNEST MONEY for payment of a Two-Story house and lot
located at (Address of Property) covered by T.C.T. No.T-00000.<br /> <br />This EARNEST MONEY forms
part of the purchase price of (Amount in words) (P 0,000,000.00). The balance and full payment shall be
paid on or before __________________.<br /> <br />The BUYER hereby reserves the exclusive right to
purchase the aforementioned property and the SELLER cannot offer the aforementioned property to any
third party until _____________________.<br /> <br />Upon full payment, the SELLER shall execute a
DEED OF ABSOLUTE SALE in favor of the BUYER, conveying the subject property with full warranty of a
legal and valid title as provided by law, free and clear from any liens and encumbrances.<br /> <br
/>Upon execution of the DEED OF ABSOLUTE SALE, the SELLER shall undertake the payment of the
Capital Gains Tax. The BUYER shall shoulder the payment of the Documentary Stamps Tax, Transfer Tax,
Registration Fee and all other expenses to transfer the title of the property under his name.<br /> <br
/>In case of voluntary cancellation of this agreement by the BUYER without any cause on the part of the
SELLER or if the BUYER fails to comply with his obligations mentioned, then the SELLER shall have the
right to terminate this agreement in which case the EARNEST MONEY in the amount of (Amount in
words) (P 000,000.00) shall be forfeited in favor of the SELLER as liquidated damages.<br /> <br /> <br
/>IN WITNESS WHEREOF, the parties have hereunto affixed their signatures, this ______ day of
__________________ at _________________________,
Philippines.<br /> <br /> <br /> (SELLER) (BUYER)<br
/>Name Name <br />WITH MARITAL CONSENT:<br
/>________________________ _________________________Name of Seller’s
Spouse Name of Buyer's Spouse <br />SIGNED IN THE PRESENCE OF:<br /> <br
/>__________________________ ____________________________<br /> <br /> <br
/>ACKNOWLEDGMENT<br />REPUBLIC OF THE PHILIPPINES)_____________________________ ) SS.<br
/>BEFORE ME, a Notary Public, this ____________day of ________________, personally appeared the
following:<br /> <br />Name CTC Number Date/Place
Issued<br /> <br /> (Name of Seller) 10000000 February 5, 2010 / Pasay
City<br /> (Name of Buyer) 10000000 January 14, 2010/ Quezon City<br /> <br />This
instrument, consisting of ___ page/s, including the page on which this acknowledgment is written, has
been signed on the left margin of each and every page thereof by the concerned parties and their
witnesses, and sealed with my notarial seal.<br /> <br />IN WITNESS WHEREOF, I have hereunto set my
hand the day, year and place above written.<br /> <br />Notary Public<br /> Doc.
No. ........;Page No. .......;Book No. .......;Series of 2010<br />
This earnest money receipt for a property is executed on this——————-
day at, by Sh.———-on ——-at ————–in favor of Sh.
—————————————————————————-against the advance
sale consideration of his property bearing number ———–The total sale
consideration of the property is agreed at Rs————————.
The earnest money being paid is Rs—————————————————at
present against this receipt and the remaining amount of Rs———————
shall be paid by the purchaser named above within a period of——————-
days/months i.e. on or before ———————————————————–.
I hereby agree that after receipt of the total sale consideration, I will execute
all the title documents of the property before the authorities concerned as per
the date fixed by the purchaser.
I agree to clear all the dues pending against the said property within this
period, failing which the purchaser will have a right to deduct the said amount
from the sale consideration at the time of final payment.
It is agreed that if the purchaser fails to pay the sale consideration amount as
mentioned above within the time prescribed above, he shall lose his earnest
money and if the seller fails to execute the sale deed due to any reasons he
shall pay the double amount of the earnest money.
This earnest money receipt is executed and signed in the presence of
witnesses below.
SELLER
PURCHASER
WITNESSES:
1.
2.
Earnest Money Receipt For A Property
Real Estate Money Receipt
Format of Earnest Money Receipt
Property Earnest Money Receipt Agreement
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