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How to Purchase a Property without your pesence in the Philippines

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1. Choose a property  that you like in the website after inquiring more information about it. Your Realtor should be able to provide you the pictures, floor plans as well as the subdivision map showing where the lots or units are available.
 
2. Reserve the lot or unit  by sending the reservation money bank to bank, direct to the developer's account. It will be ideal to require  your Realtor to send a formal advice from the Developer to deposit the money to their account. Official receipt will then be issued once the deposit is cleared and your Realtor should be able to email you a copy of the receipt and mail to you the original. A sales contract shall then be prepared  which the original will be sent to you for your signature and copies will be sent back to the Philippines together with your documents / requirements. A copy of this contract can be mailed to  you after notarization  upon your advice.
 
3. Make a down payment or start the mothly payment after 30 days from reservation depending on the agreed  terms and conditions. The down payment can be sent bank to bank direct to the developer's account. If cash, basis, you Realtor should be able to negotiate a discount for you. Again, your official receipt can be mailed to you (copy to be sent as attachment to email) 
 
4.  Arrange with the seller (your broker can handle this for you) the manner and terms of payment for the balance. For the monthly amortization of the remaining balance, most developers require post dated checks. In this case, it is advisable to have somebody, your trusted relative to open a checking account for you and could be authorized to issue check to cover the mothly amortizations. All you have to do is to  deposit to the bank account before the monthly payment is due.
 
 
Sample of Actual Case of a Buyer who purchased without his presence in the Philippines and without a special power of attorney.
 
Mr. Robert Virgadamo
Las Vegas, USA
  (buyer)
White Sands Subdivision, Mactan
Cebu, Philippines
 
   Mr. Virgadamo contacted us sometime February 2004 after visiting our website. He sent several emails of inquiry about White Sands. Aside from the pictures and details of the property, prices and financing, etc., he also received an updated map through email showing all the lots available. After choosing a lot that he liked, he sent a reservation  money of $200 direct to the developers account - Cebu White Sands. Upon clearing the deposit, the Realtor serving his account sent  him a copy of his official receipt through email and mailed the original.
 
  Then, a contract was prepared and sent to Mr. Virgadamo and was requested to send back this contract after signing together with the documents required. When the documents were received by us, the contract was finally signed by the Developer and when it was fully paid, the title was transfered to Mr. Virgadamo.. When Mr. Virgadamo came to the Philippines in November 2004, the title was already in his name and in the early 2005, he built his  home on the land and  now he is happily retired together with his wife in Cebu White Sands.
 
 

Cebu Real Estate