Frequently asked questions
If you have found the right home for you and not reserve it immediately, especially if you have the resources to buy already, your specific choice of unit (or the same type) could run out as there are also other buyers who are wishing to have that same unit. Sometimes we have our own preferences or choices that are limited in nature. For example, out of 10 same unit types, there could only be 1 or 2 that you like because of its strategic position or location within the subdivision (if house and lot) or building (if condo unit), aside from the other reasons like pricing.
Another is that prices of real estate properties appreciate. Sometimes, the price increase ranges from 3-5% annually or even semi-annually in some in-demand projects. That could translate to several thousands or hundred thousands of pesos additional that could have been your savings or could be used to furnish your house of condo unit.
No. There is nothing in the Philippine law that says a condominium is only good for 50 years. It means that just like a house and lot or lot only, a condo unit owner will have a title (CCT - Condominium Certificate of Title) thatcan be passed on to the next generation.
Yes, foreigners are allowed to own a condominium unit or property but not a house and lot (or lot only) except for special cases as may be provided by law.
Yes. Those who are based abroad can still reserve a unit whether house and lot, lot only, or condo unit. As mentioned above, the reservation fee may be paid through various facilities and the reservation agreement form may be sent online and initially, scanned documents are accepted while waiting for the original signed documents to arrive via courier, or pesonally when the client comes back to the Philippines.
All the needed pieces of information such as computation, available unit, location map, site development plan, floor plans, and others will be provided to you via email or any other means online to help you choose a specific unit.
The requirements differ depending on the developer but, usually, the initial requirements to reserve a unit are:
- Reservation fee — may be paid through cash, cheque, or credit catd (in some developers). If based abroad, reservation fee can be deposited via remittance or wire transfer.
- Fully filled-up and signed reservation agreement forms (may also be sent via email or courier if client is based abroad)
- One or two valid IDs