How do you buy a property in the Philippines

Posted: Nov 19, 2020 06:23:38 PM


A guide to every individual’s home-buying process

Buying a house is not as simple as it seems. It involves rigid decision making and you are not alone in doing the process. Together with a real estate broker or salesperson, loan officers and other professionals, they will help you find that property that you’ll absolutely love.

No doubt your family and friends will be giving you tons of advice coming from their own experiences. However, their experience in buying their home may no longer be applicable as they have had their purchase several decades ago and the rules in the real estate industry have changed.

Step 1:

Given the fast-paced updates of technology, it wouldn’t hurt to research ahead. Social media is a great platform to find various properties in different locations of your choice. You can also easily access virtual tours, photos and videos in the developer’s websites.

Step 2:

Be financially prepared. When you buy a property, be prepared for commitments in paying for your amortizations which may last to 20 years, depending on your opted financial schemes. You may also prepare paying for transfer and connection fees which will range from 5 to 15 percent of the total property amount.

Step 3:

Work with a licensed Real Estate Broker or Real Estate Salesperson. Acquiring services with a real estate professional will guide you throughout the whole process from looking for your ideal property, visiting the location, explaining the financial schemes, checking the pertinent documents and more.

Your real estate broker/salesperson will also be the one to assist you in your reservation process and connecting you with property developers for the requirements and forms necessary in your transaction. The developer will then provide you with financing options and notify you if your house is ready for move-in.

You may visit or check with Land Asia Realty & Development Corporation’s list of accredited property specialist to guide you in your home hunting.

After everything has been settled, relax and take time to enjoy your new community with your family and enjoy the fruits of your labor.