Do I need a broker or can a real estate agent be able to assist me to buy a property?

Real Estate Brokers and Agents are two different people. A real estate broker is the one who handles documentation and everything else and can also sell like an agent. They are the ones who have the license to sell you properties. Real estate agents can only sell properties under a developer and/or broker.

There are two kinds of real estate agents. One is an agent under a broker under general brokerage, meaning they handle any property from any developer nationwide as long as their broker (and/or brokerage company) is accredited to the developers. You name it they got it. The second one is an inhouse agent or those who are under one developer only and cannot sell any other properties outside the company.

What do I need to know before buying a property?

First of all you must know these five important things:
• Location
• Purpose
• Number of bedrooms (with or without parking or balcony?)
• Pre-selling or Ready for Occupancy
• Budget

Questions to consider are the following:
• Where do you want to live and why?
• Is it for you, your children and/or the entire family or is it for investment like rentals?
• Do you need to live in it as soon as possible or do you prefer to buy something that is still being constructed?
• Do you prefer to have parking slots and balcony or no?
• Can you and/or your spouse’s salary and other sources of income be enough to pay for the total contract price? Who will pay for it or who will be the owner?
• Are you willing to compromise on certain things?

If you are able to answer all of the above then basically you can buy any property that you choose. There are too many properties everywhere so you have to be specific in order to be able to decide on what is available. This is for you to avoid being overwhelmed from all the choices and have a difficult and longer time deciding on which one to acquire.

I am a Filipino living abroad, can I purchase a property in the Philippines?

Yes. If you are an Overseas Filipino Worker (OFW) or someone who currently live outside the Philippines then sure feel free to purchase a property.

If you are still a Filipino citizen then of course you can buy anywhere in the Philippines.  In case you cannot travel back here all the time, a consularized (consulate notarized) Special Power of Attorney (SPA) will be required from your local representative. That person will stand in for you in regards to signing any documents, etc.

Do we need to reserve a unit before we can buy it?

Yes, it is required that you pay a reservation fee first which will be deducted from the downpayment of the total contract price upon payment. The amount to pay will also depend on the type of property, if it is high, mid or low end.

I own a business/company, can I use it to purchase a property?

Yes you can purchase a property under your company or business name. It will also depend on the developer. Be sure to inform your agent or broker so they can provide additional information on what will be required for the company to purchase any condo unit.

How do I buy a condo or house and lot?

First you pay for the reservation fee. Next you will need to sign the reservation sheet, buyer’s info sheet, etc.

Also, you have to choose a payment term to purchase it in full or broken in monthly terms + bank financing or cash payment.

Aside from that you will be asked several proof of identity and documentation like government IDs, passport, proof of billing, TIN, etc. If you will purchase a property as a corporation/company/business, you will be required to present company/business documents of course.

What is the difference between a list price and sale price?

The list price is the price a home is currently listed for sale at.  The sale price is the price a home is sold at.  A top Realtor should be able to suggest a list price that ends up being very close to the final sale price.