Guide to Buying
Whether you’re a first time buyer or new to the South Luzon area, I’m here to help you every step of the way.
All of us dream of becoming homeowners. It is a way of ensuring lifelong financial security; the kind that does not come from living in a rented home. But buying a home is a complicated process. Whether it is years of savings to be given as down payment, or finding the right locality to invest in; the process of buying a home is elaborate. And since property investments take a huge chunk of savings, most of us rely on home loans.
Buyer’s Guide
STEP NO. 1
ANALYZE
Figure out how much you can afford. Decide where you want to live. Think of what kind of home you want. If your desire to own a home based on wanting to create stability, keeping control over your living situation and investing in your future, go for it.
STEP NO. 2
SELECT AND CHOOSE
Start going to open houses to see what the market is like. The more homes you look at, the better idea you will have of what you can afford and what you do and don’t like. Simplify your search by defining the location you’d like to live in. Scout out what’s available. Look at the prices, home design, proximity to shopping, schools and other amenities.
STEP NO. 3
CONTACT
Contact an authorized/ registered real estate sales person who will search for suitable properties, represent your interest and negotiate in your behalf. Shop aggressively. Look at many homes as possible to get sense of what’s possible. Don’t rush into buying if you don’t have to.Go into exhaustive detail when describing to your agent what you want in a home. If your agent shows you homes that aren’t what you want, find another one who listens more attentively.
STEP NO. 4
REVIEW
Understand legal and documentary requirements and study financing options. Attend housing loan seminar conducted by financing institutions. Get prequalified to get the amount you can pay.Be ready to hand over a substantial down payment. Strengthen your credit, resolve any delinquencies with the financing institution.
STEP NO. 5
PURCHASE
Complete the purchase by signing in the Reservation application.Pay the reservation fee. Submit the required initial documents.
STEP NO. 6
POST PURCHASE
Accomplish the post-purchase procedures. prepare the loan requirements and sign the housing loan documents. Submit the post dated checks for monthly equity installments and amortization. Wait for the loan approval, attend the move-in seminar and prepare to transfer in your brand new home.
SALES DOCUMENTATION REQUIREMENTS
RESERVATION REQUIREMENTS :
Initial documents to be submitted by the buyer upon reservation
Duly filled-up and signed Reservation Application Form
Buyer’s Information Sheet • Computation Sheet
(at least three 3)
Payslip for the last (2) months, if applicable
Proof of Billing
Valid I.D. Card
Tax Identification Number (TIN)
Residence Certificate
LOAN PROCESSING REQUIREMENTS
For regular employed member
Notarized Certificate of Employment & Compensation (CEC)
Income Tax Return w/ W3
Certificate of Pag-IBIG Contribution
Membership Status Verification Slip (valid for 6 months)
Preliminary loan Counseling Questionnaire (PLCQ)
Employee Statement of Accumulated Value (ESAV)
Company ID w/ signature
Birth Certificate or Marriage Contract, if married
4 pcs of 1 x 1 ID pictures, with signature at the back
Special Power of Attorney (SPA), if applicable
Valid ID Card of the SPA
Residence Certificate of SPA
Postdated checks for the Equity monthly installment payments
Note:
CTTO : guidelines' not mine