Buyer’s Guide

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What Financing Options do you have for purchasing a property?

1) Bank Financing
We offer financing with various banks. Generally, 20% down payment 12 months to pay without interest is required and then 80% bank financing.

2) Deferred Cash
The whole amount (price) is payable in 24 months without interest.

3) Spot Cash
Buyers who pay in spot cash the whole amount can avail big discounts. Discounts are to be computed upon reservation.

4) Special financing for lots only
Avail up to 36 months (3 years)  to pay without interest for lot only.

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Required Documents to Purchase your Property

Required Documents for Lot Only

• Birth Certificate or Marriage Contract
• 2 Valid IDs
• Community Tax Certificate (Cedula) / Photocopy of Passport (all pages w/ entries)
• 2 pcs. 2″ x 2″ id pictures (husband and wife)
• Proof of Billing Address (Utility bills)
• Post-dated cheques

Required Documents for Spot Cash

• Birth Certificate or Marriage Contract
• 2 Valid IDs
• Community Tax Certificate (Cedula) / Photocopy of Passport (all pages w/ entries)
• 2 pcs. 2″ x 2″ id pictures (husband and wife)

Required Documents for Deferred Cash (2 years to pay)

• Birth Certificate or Marriage Contract
• 2 Valid IDs
• Community Tax Certificate (Cedula) / Photocopy of Passport (all pages w/ entries)
• 2 pcs. 2″ x 2″ id pictures (husband and wife)
• Proof of Billing Address (Utility bills)
• Post-dated cheques

Required Documents if with Financing

• Birth Certificate or Marriage Contract
• 2 Valid IDs
• Community Tax Certificate (Cedula) / Photocopy of Passport (all pages w/ entries)
• 2 pcs. 2″ x 2″ id pictures (husband and wife)
• Proof of Billing Address (Utility bills)
• Post-dated cheques

Working outside the Philippines (OCWs)

• Original Certificate of Employment and Compensation w/ Consular Seal
• Photocopy of Contract of Employment
• Photocopy of Passport (all pages with entries)
• Proof of Remittances (latest 6 months)
• Pay Slips (latest 3 months)
• 2 Valid IDs
• Bank Statements (latest 6 months)
• Birth Certificate or Marriage Contract
• Community Tax Certificate (Cedula)
• 2 pcs. 2″ x 2″ id pictures (husband and wife)
• Proof of Billing Address (Utility bills)
• Post-dated cheques

Locally Employed

• Photocopy of Income Tax Return (ITR)
• Original and Notarized Certificate of Employment and Compensation (COEC)
• Pay Slips (latest 3 months)
• 2 Valid IDs
• Bank Statements (latest 6 months)
• Birth Certificate or Marriage Contract
• Community Tax Certificate (Cedula)
• 2 pcs. 2″ x 2″ id pictures (husband and wife)
• Proof of Billing Address (Utility bills)
• Post-dated cheques

Self-Employed (Business)

• Photocopy of Business Registration (DTI/SEC)
• Mayor’s Permit
• ITR for the last 2 years
• Original Audited Financial Statements for the last 2 years
• Franchise/OR/CR (for taxi, jeepney, bus operators)
• PTR (For practicing professionals)
• Company Profile (if applicable)
• Picture of Business Establishment
• Bank Statements (latest 6 months)
• Birth Certificate or Marriage Contract
• 2 Valid IDs
• Community Tax Certificate (Cedula)
• 2 pcs. 2″ x 2″ id pictures (husband and wife)
• Proof of Billing Address (Utility bills)
• Post-dated cheques

 

Note: Other documents may be required on a case to case basis.
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For Overseas Investors

I. I am a Foreigner or a Filipino Immigrant, can i purchase property in the Philippines?

A Foreigner will not be able to purchase lots in the Philippines. However, he/she may be able to buy properties that has a “condo title” – legally known as “Condominium Certificate of Title” such as 1. Condominium units; 2. Townhouse units. 3. Duplex/Triplex. This, so long as the foreign ownership of said property is not more than 40% of the Condominium Corporation. A foreigner may also own land in the Philippines through a 60% Filipino/40% Foreign corporation.

A Filipino Immigrant, without dual citizenship status, will have the same rights to Philippine Real Estate properties as a Foreigner. This is the reason why, a Filipino Immigrant must apply for Dual Citizenship, which usually takes only one day at the Philippine Emabassy. After which, the Filipino Immigrant, now with Dual Citizenship status can buy any properties i.e Village Lots, Commercial Lots, House and Lots, Condominium Units, Etc.

II. Is the reservation fee refundable?

If you are based abroad, then it is refundable within 30 days post reservation with a processing time of 3-6months. It will be a negotiation but we make it possible.

III. Will the you be responsible for securing the Certificate of Title and register the Property on our behalf?]

Yes, since you will pay the other charges stipulated also in the sample computations, which are the facilitation fees for title transfer. We will then be the one responsible in making the necessary applications and transfer of the Condominium Certificate of Title (CCT) or Transfer Certificate of Title (TCT) to you.

IV. If so, when will we receive the Certificate of Title?

The TCT or CCT will be received 120-240 days after notarization of the deed of sale. The deed of absolute sale will be received upon full payment. More on this below

V. What is the timeline post-reservation so we can anticipate the process?

Below is the schedule of document processing starting from step 1 – reservation.

1. Reservation Agreement Forms, and if property paid by installment – Installment Purchase Application Forms, must be provided first before the remittance of the reservation fee to the ALI BPI PHP or USD account. After which, the deposit slip must be scanned then emailed back to us as well as the ALI email addresses we shall provide. If reserved online, please forward the email containing the confirmation code of the online transaction.

2. 1-14 days post-reservation ALI shall provide us with the Thank You Letter acknowledging your reservation. You shall receive that in the mailing address you have selected in the Reservation Agreement Form.

3. Within 1-14 days as well, when we have chosen our Final Payment Term and Schedule, we can then submit all documentary requirements for Contract processing, which are:

  • 3 months bank statement
  • 3 months credit card statement
  • Income Tax Return or Credit Score/Report, if US based
  • Certificate of Employment, if employed
  • Source of Income, Business Permit, if self-employed
    2 government issued ID, one preferably is the Passport (submitted during reservation)
  • ID pictures
  • *Note if the Final Payment Term and Schedule is less than 21 months, then there is no need to submit these other documents except for the Passport and ID’s submitted during reservation.
  • **Other additional documents may be needed for Special Cases, such as those with SPA’s, etc., as required.

4.  7th to the 25th day post reservation, completion of Locally issued (Philippines) Post-Dated Checks, based on the Final Payment Schedule provided by Ayala Land, duly signed by its officers. Now, if you do not maintain a Philippine checking account, we can assist you in opening such account through satellite bank branches abroad.

5. 30th day is usually the date of Down Payment:

If paid in Cash, Ayala Land Inc. shall issue the Contract to Sell and Deed of Absolute Sale 30-45 days post-downpayment, and shall be couriered to your mailing address.
If paid in Installlment, ALI shall issue the Contract to Sell 30-45 days post-downpayment. When the property has already been paid in full, then Ayala Land Inc shall issue to you the, the property owner, The Deed of Absolute Sale within 30-45 days upon making the final payment.
*NOTE: these documents shall all be signed by the buyers, and must be sent back for notarization, after which ALI shall send you the notarized copy.

6. After ALI has notarized the Deed of Absolute Sale, then we can go ahead with the waiting time for the TCT/CCT. It will usually take 3-6months after the Deed of Absolute Sale has been notarized for the CCT/TCT to be transferred under your name. All fees in regards to this transfer has already been paid by you – in the Other Charges check issued.[/EXPAND]

VI. There is a lump-sum at the end of the Final Payment Term and Schedule, I intend to do Bank Financing. Will you be able to assist us on this application of mortgage?

Yes, we are experts on Mortgage Approval. We shall assist you in regards to this Loan Application. Usually, we shall start the process 4-5 months before the lump-sum is due. We shall then be sending you all the necessary paper work and list of required documents for your compliance and submission to the bank of choice. The accredited banks of Ayala Land are as follows: BPI Family, BDO, Metrobank, Chinabank and HSBC. The best in our experience will be BPI Family, as they usually have promotions for the Ayala Land Property buyers, for its also part of the Ayala Conglomerate. Interest rates prevalent, as of this posting, is as low as 5.25%[/EXPAND]

VII. Since we are abroad, how do we pay for the Property Taxes, Homeowners Association Dues and other related fees?

For the Real Estate Property Tax, the first year since turnover is usually paid already via the Other Charges that you have paid for previously. The consecutive year and so on shall be in the account of the property owner. The Real Estate Property Tax or RPT is paid in the Municipal office or in the City Hall, at which the property is duly registered.

However, the village ADMIN via Ayala Property Management or the Home Owner’s association can initiate this service once the neighborhood is fully turned over.

Our overseas clients, if they do not have a representative who can assist them on this i.e. relatives, usually request for our assistance to facilitate this part of Property Management. The tax payments can be issued via checks in the amount indicated by Tax Declaration of the said property. Personnel at APMC shall apply the tax payments to City Hall, as per request. The receipt shall then be scanned and email back to you and held on file and/or mailed back to your abroad address.

VIII. Will you be there until the property has been turnover?

Yes. We shall be assisting you until the time you have received the title to your property or the keys to your condo unit. We can then recommend to you our accredited Architectural firms and Interior Designers, who has provided great service to our past clients.[/EXPAND]

IX. I intend to rent out my unit, do you provide this service?]Yes. We provide Property Management services to our clients. Our fees are negotiable.

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Guide to Foreclosed Properties

Why should I buy a Foreclosed property versus Second-Owned?
Foreclosed properties are a steal . These are the lowest priced properties on the market, at the same time the quality of the property is the same as a second-owned one. They are also much easier to apply for bank financing since all foreclosed properties are listed within a bank.

Do foreclosed properties have clean titles?
Yes, titles are already transferred under the name of the bank which foreclosed the properties.

Are there other minor or major issues the buyer has to deal with in buying foreclosed property?
None. The bank in which the foreclosed property is listed has taken care of the papers concerning the previous owner of the property. This means that the former owner and the bank has reached an agreement for the bank to list and sell the property.

Is this true that there are still occupants when you buy a foreclosed property?
Yes there are. They are caretakers manning bank’s foreclosed properties, especially the high valued properties ( 10M –up).

Caretakers are literally there to take care and guard the property from vandals and squatters while there are still no occupants.

What is the price a buyer has to offer to purchase foreclosed property?
If the indicative price is stated, buyer could offer this price or 10% lower to take care of other charges when the sales materializes. In sealed bidding, if the floor price is indicated, the buyer could only offer price equal or higher than floor price.

What Financing Options apply to Foreclosed Properties?
All Financing Options listed above apply to foreclosed properties.

Can a buyer avail of PAGIBIG loan to buy foreclosed property?
Yes, PAGIBIG housing loan may be used to finance purchase of acquired asset which is disposed of through sealed public bidding and negotiated sale. Take note PAGIBIG member shall be allowed to borrow an amount up to a maximum of 2M Pesos only.

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