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
White Sands Subdivision, Mactan
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.