For every buyer’s reference, below is the content of the contract signed upon reservation:
EAST VILLAS or EAST HOMES
CONTRACT
________________________________________________________________________________________________________________________
I/We, __________________ ___ The undersigned, Filipino, of legal age/s, single/married with
Postal address a __________________________________________________ __ (hereinafter
Collectively referred to as the BUYER), offer/s to buy a property from BACOLOD SOUTH HOMES CORP., a corporation
Duly organized under the Philippines law with office at BSHC Center, Burgos Street, Brgy, 18, Bacolod City (hereinafter
referred to as the SELLER) a parcel of land located at Brgy, Estefania, Bacolod City (herein after referred to as
EAST VILLAS), which property described as: Block No. _______ Lot No. ____________ __ , under the following
Terms and conditions: ( __________________ sq. m. LOT w/ ____________________ sq. m. HOUSE).
1) in consideration of reserving the aforementioned property to commence on the date of this application
2) (reservation date), the BUYER agrees to pay the amount of:
PESOS __________________________________________________________________
( _________________________ ) to the SELLER, payable according to the following schedule:
EQUITY + Miscellaneous Fee = _________________ + ________________
Note: Pag-ibig Loan: ______________________
Monthly Amortization: __________________________ Total Amount Paid:
P10,000 Reservation is deductible from downpayment
(Below will contain the schedule of payments)
1
2
3
4
5
6
7
8
9
10
11
12
13
14
15
16
17
18
19
20
21
22
23
24
TOTAL
It is hereby agreed and understood by the BUYER that the reservation free shall be part of the Total Purchase Price.
2) The BUYER will submit a Buyer’s Information Sheet (BIS) to the SELLER and that all information stated therein are true and correct. The BUYER agrees that the address stated in the BIS shall be the official address to which all communications / notices must be sent. It shall be deemed accepted by the BUYER unless any change of address shall be communicated in writing to the SELLER, at its place of business. The SELLER shall not be Responsible for any communication not received by the BUYER at its given address with postage fully prepared.
3) The BUYER will comply with all the requirements needed in its respective category. As HOME DEVELOPMENT MUTUAL FUND (HDMF) APPLICANT, the BUYER will sign and confirm the loan documents and submit all other documents pertaining to its housing loan application with PAG-IBIG Fund. The BUYER agrees and understands that the amount of loan to granted including the term and Interest thereon shall be computed according to the guidelines set forth by PAG-IBIG Fund. The Difference in amount between the Total Purchase Price and the Loanable Amount shall be known. As EQUITY which shall be paid by the BUYER in accordance with the above stated schedule.
4) It is agreed and understood that failure on the part of the BUYER to comply with the obligations within the stated period shall automatically cause the cancellation of the reservation and the forfeiture of all payments
made which include the reservation fee, equity, all other payments such as penalty for delayed settlement
of account (if any) and re-application fee (in case BUYER re-applies) in favor of the SELLER, as and by way of
liquidated damages.
5) If the documents submitted by the Buyer were found to be falsified / spurious or fake, and /or any misre-
Presentation had been made therein, it shall also cause the automatic cancellation of the reservation application,
And all payments made shall be forfeited in favor of the SELLER also and by way of liquidated damages,
Without prejudice to whatever other cause of action available to the SELLER.
6) All payments shall be made in person, at office of the SELLER. It is hereby expressly agreed, that payment
Made to the agents or real estate brokers SHALL BE AT THE SOLE RISK AND EXCLUSIVE RESPONSIBILITY OF THE BUYER. Any and all receipts issued by said agents or real estate brokers shall not be recognized by the SELLER
A valid payments unless the same have been signed, issued by the SELLER’s duly authorized officer and/or
cashier.
7) If the BUYER decides to cancel or withdraw his/her reservation for any reason whatsoever, all payments made
Shall be forfeited as liquidated damages. However, if the cancellation / withdrawal was made within a period
of five (5) days from the date of reservation, an amount equivalent to fifty percent (50%) of all payments made shall be forfeited and the remaining shall be returned to the BUYER, provided that a written notice informing the SELLER of the BUYER’s decision to cancel/withdraw was received by the SELLER within the above stated period.
8) This reservation is non-transferable and non-assignable and any transfer or assignment made shall be void and
Shall be a cause of cancellation of this reservation and the forfeited of reservation fee and other payments.
9) Any representation or warranty made to the BUYER by the agent who handled this transaction that does not embody herein shall not bind the SELLER, unless reduced in writing and confirmed by the authorized officer of the SELLER. The BUYER agrees that the SELLER is not responsible for any misappropriation, malfeasance, misrepresentation of unlawful acts committed by the marketing agent that will prejudice the SELLER.
10) That the BUYER has seen and visited the above mentioned property and is fully aware of the nature of the
Project. The BUYER is satisfied of its present condition, developments and improvements made thereon.
11) This reservation application is on a first-come-first-serve basis. The SELLER reserves the right to deny/dis-
Approve this reservation application within five (5) days from the reservation date. In which case, all payments
Made shall be reimbursed to the BUYER.
12) In the event of the above subject property is found to be unavailable due to prior commitment or transaction
with another party, or was offered by mistake or inadvertence, the BUYER agrees to have the subject property
Exchanged with another property within the same project or with other subdivision projects owned and
Developed by the SELLER, with the same area or value. Otherwise, reservation application will be deemed
Cancelled subject to the reimbursement of all payments previously made by the BUYER by reason of this
Reservation.