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Guidance in Buying a Philippine Real Estate Property For Filipinos Abroad

Guidance in Buying a Philippine Real Estate Property For Filipinos Abroad

A lot of Filipinos abroad have no idea on how to buy a house and lot or a condominium here in the Philippines, so we decided to make this how-to-guide.

Buying a real estate property here in the Philippines when you’re abroad does require additional steps and will incur more costs so it is essential to know the right thing to do before deciding to purchase one.

The first thing you need to do is to find a trusted property specialist here in the Philippines that can assist you all throughout the process.

Finding the right property specialist for you is another topic all by itself but here are some quick guidelines:

a) Find someone that you feel you will be comfortable to talk and deal with.

b) Find an agent or a specialist that will help you out without paying a certain fee (service fee, assistance fee, etc…). If you like to give your agent or specialist a “tip” for a job well done, then by all means do so.

The next thing to do is to appoint someone as your attorney-in-fact that will do and sign all the contracts on your behalf. This should be a trusted family member.

After choosing the right persons and assuming that you already have chosen your preferred unit, below are the steps to follow. The steps illustrated varies depending on the developer and bank.


1) Your attorney-in-fact will reserve the unit for you. He/ She will sign the forms (reservation form, special power of attorney and authorized representative form) as well as pay the reservation fee.

The property specialist or agent will then send you the SPA for you to sign and consularize.

2) Once reserved, here are the requirements that you need to submit within 30 days:

       a) Special Power Of Attorney (Consularized) – this must be authenticated by the Philippine consulate

      b) Income Proof (3 months)

      c) Proof of Billing (here in the Philippines)

      d) TIN (for verification. If you don’t have a TIN # in the Philippines, the property specialist may do this for you)

      e) CEC (Certificate of Employment and Compensation) – needs to be consularized as well

      d) Employment Contract (should be in English) – must be with the seal of the employer as well as a signature of          the authorized personnel (HR manager, etc…). Can be photocopied as long as it is certified as true and correct

      e) Post dated checks (PDCs) for the down payment. Requirement may change to some developers. If you don’t           have a checking account yet, your attorney-in-fact may open one in his name. You just need to fund it                    afterwards

       f) Photocopy or scanned copy of your passport and IDs

3) Your attorney-in-fact will apply for a housing loan with the bank (if bank financing), developer (if in-house financing), or Pag-Ibig (if Pag-Ibig financing).

4) Send back all the requirements on #2 via courier to your agent/ property specialist.

5) The property specialist will then submit all the documents together with the PDC’s to the developer and that is all there is to it. All you need to do is fund the checking account and continue to pay the monthly amortization.

The steps above will vary depending on the terms of the developer and the bank.