The FactsContract to Sell • January 3rd, 2014
Contract Type FiledJanuary 3rd, 2014On April 26, 2005, Sps. Jovellanos entered into a Contract to Sell6 with Palmera Homes, Inc. (Palmera Homes) for the purchase of a residential house and lot situated in Block 3, Lot 14, Villa Alegria Subdivision, Caloocan City (subject property) for a total consideration of P1,015,000.00. Pursuant to the contract, Sps. Jovellanos took possession of the subject property upon a down payment of P91,500.00, undertaking to pay the remaining balance of the contract price in equal monthly installments of P13,107.00 for a period of 10 years starting June 12, 2005.7