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The Seller Financing Purchase Agreement is a specialized contract used in the Philippines when traditional bank financing is either unavailable or undesirable for property purchases. This agreement type is particularly valuable in scenarios where buyers seek alternative financing options or sellers wish to generate ongoing income through interest payments. The document comprehensively covers both the sale and financing aspects, including purchase price, payment terms, interest rates, security arrangements, and property transfer conditions. Under Philippine jurisdiction, this agreement must comply with various regulations including the Civil Code, Truth in Lending Act, and real estate laws. It's commonly used in both residential and commercial property transactions, providing flexibility while ensuring legal protection for all parties involved.

1. Parties: Identification and details of the Seller/Financier and the Buyer/Borrower

2. Background: Context of the transaction, including brief description of the property and parties' intention to enter into a seller-financed purchase arrangement

3. Definitions: Key terms used throughout the agreement, including financial terms, property description, and other relevant definitions

4. Purchase Price and Financing Terms: Total purchase price, down payment, principal amount financed, interest rate, and payment terms

5. Payment Schedule: Detailed structure of payments including amounts, due dates, and payment methods

6. Property Description and Transfer: Detailed description of the property and terms of transfer

7. Security and Collateral: Details of security arrangements, including retention of title or mortgage provisions

8. Representations and Warranties: Statements of fact and promises by both parties regarding their capacity, authority, and the property's condition

9. Covenants: Ongoing obligations of both parties during the financing period

10. Default and Remedies: Events constituting default and available remedies for both parties

11. Insurance and Maintenance: Requirements for property insurance and maintenance obligations

12. Taxes and Expenses: Allocation of tax obligations and transaction expenses

13. Governing Law and Dispute Resolution: Specification of Philippine law as governing law and dispute resolution procedures

14. Execution: Signature blocks and notarization requirements