Condo-Philippines
RESALE CONDOS GUIDELINES & REQUIREMENTS


SALES GUIDELINES & REQUIREMENTS:

1. TERMS of PAYMENTS and CONDITIONS 

  • P50,000 – P100,000 (Depends on the unit owner) Earnest Money to hold the unit (money can wire, bank to bank or remittance thru the account of the unit owner)
  • Deed of Assignment will be executed between the unit owner and the buyer. In the absence of the unit owner an assigned authorized representative with Special power of Attorney will sign in behalf.
  • If the title of the unit is not yet transfer to the owner a Transfer Fee worth P10,000-P30,000 (depends on the developer) will be charges at the expense of the unit owner.
  • Unit can be settled in full cash 30 days upon payment of Earnest money or buyer can apply for Loan Financing from the Bank a minimum equity of 20-30% of the Net selling price depends on the appraisal of the property, in case buyer is disapproved the reservation fee will be forfeited.
  • If Bank Financing; Monthly Amortization shall start thirty (30) days from full payment of equity. All amortization payments shall be covered with post-dated checks
  • All forms of payments to be made by the buyer shall be payable directly to the owner if his/her unit is already fully paid from the developer
  • The buyer must abide of guidelines of the unit owner as stipulated in the Contract to Sell (CTS) and Deed of Assignment 

2. DOCUMENTATION REQUIREMENTS 

If title of the unit is still in possession of the developer the following documents are needed;

  • Duly Accomplished Pro-forma Deed of Assignment
  • Contract to Sell (CTS) and
  • Buyers Information Sheet
  • Special Power of Attorney (SPA) (in the absence of the buyer or unit owner)
If the unit owner has a Condominium Certificate of Title (CCT) already the following documents are needed;
  • Offer to buy
  • Deed of Absolute Sale
  • Buyers Info sheet
  • Photo copy of latest of Community Tax Certificate or Passport
  • Postdated checks for the amortization of balance of purchase price
  • Special Power of Attorney (SPA) (in the absence of the buyer or unit owner)


 


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