Buyer’s Guide – Applicable for ProFriends Only.

How to Buy House and Lot in Philippines

How to Buy a House in the Philippines

Inquire 

  • Choose the house that fits your budget.
  • Know the house features, specifications and location.
  • Decide what loan financing – bank or inhouse.
  • Get sample computation of your desired financing option.
  • Find out if the monthly downpayment and soon the amortization do not cost more than 30% of your joint monthly income.

Inspect

  • Visit the actual site and village phase where house will be built.
  • View the actual model of the house that you will buy.
  • Take note of the actual look of the house that will be turn-over or delivered to you.

Select

  • Select the block and lot of your desired house model.
  • Refer to list of available units from our sales map.

Reserve

  • Fill up Buyer’s Information Sheet (BIS).
  • Sign a Reservation Agreement (RA).
  • Pay the reservation fee.
  • Reservation payment assures the Buyer that the house is reserved in her/his name.
  • Receive documents & forms given for Buyer’s signatures
  • Submit these documents and other basic requirements within 60 days.

Downpayment

  • Pay your first downpayment 30 – 45 days after reservation date.
  • Follow the payment schedule given by the Developer’s Account Officer.

Amortization

  • Pay the amortization after your downpayment term.
  • Take note:  downpayment and amortization will not be paid at the same time.

House  Turn-over

  • House turn-over will be 9 mos. after downpayment term (Pre-Selling).
  • House turn-over will be 2-4 mos. after downpayment term. (Ready for Occupancy)

House Inspection

  • Notification of schedule to inspect will be sent thru mail, email or call.
  • Be sure you update your contact info with the Developer’s office.
  • Inspect your house on a given schedule or date.
  • List down parts of the house that you think needs repair or retouch during inspection.
  • Re-inspect your house after few weeks.  Depends on repair/retouch to be done.

House Acceptance

  • Accept your house after you’re satisfied with the repairs.
  • Get the Authority to Move-in (ATMI) at the Developer’s Main Office.
  • Bring the ATMI at the Site’s Engineering Office and get the keys

 

Payment Terms and Options

Option 1 – Installment Basis thru Bank Financing

  • Pay a downpayment of 12.5% in 15 months base on Total Contract Price (Adelle,Mabelle,Briana,Chessa) (TCP).
  • Pay a downpayment of 7% in 8 months base on Total Contract Price (Catherine,Diana,Sophie,Margaret,Gabrielle,Alexandra) (TCP).
  • Pay the balance of 87.5% thru Bank (Metrobank, UCPB or BDO)

Option 1 – Installment Basis thru Inhouse Financing

  • Pay a downpayment of 20% in 15 months base on Total Contract Price (TCP).
  • Pay the balance of 80% thru the Developer’s office.

Option 2 – Deferred Payment

  • Pay the full amount of the Total Contract Price in 24 equal monthly installment without interest

Option 3 – Full Downpayment for Bank Financing (Pre-selling units only)

  • Spot payment of the 12.5% downpayment will give you 7.5% discount

Option 3 – Full Downpayment for Inhouse  Financing (Pre-selling units only)

  • Spot payment of the 30% downpayment will give you 7.5% discount

Note: 

  • NO discount is given for spot downpayment of Ready for Occupancy (RFO) houses.

Option 4 – Full Payment of (TCP) for Inhouse/Bank  Financing (Pre-selling & RFO units)

  • Pay the full amount of the Total Contract Price (TCP) within 7 days and get discount of 10%.
Requirements

BANK FINANCING – LOCALLY EMPLOYED – (Single or Married)

  • 3pcs. 1×1 ID Picture
  • Photocopy of 2 Valid ID’s
  • Residence Certificate for the Current Year (Cedula)
  • Certificate of No Marriage (CENOMAR) (if Single)
  • Certificate of Employment
  • Payslip
  • Birth Certificate (If single)
  • Marriage Contract (if married)
  • Tax Identification Number (TIN)
  • Latest Proof of Billing
  • Income Tax Return (ITR)
  • 15 Postdated Checks

BANK FINANCING – OFW – (Single or Married)

  • 3pc. pcs. 1×1 ID Picture
  • Photocopy of 2 Valid ID’s
  • Passport
  • Residence Certificate for the Current Year (Cedula)
  • Certificate of No Marriage (CENOMAR) (if Single)
  • Birth Certificate (If single)
  • Certificate of Employment
  • Payslip
  • Marriage Contract (if married)
  • Tax Identification Number (TIN)
  • Latest Proof of Billing
  • 15 Postdated Checks

INHOUSE FINANCING – LOCALLY EMPLOYED – (Single or Married)

  • 3pcs. 1×1 ID Picture
  • Photocopy of 2 Valid ID’s
  • Residence Certificate for the Current Year (Cedula)
  • Certificate of No Marriage (CENOMAR) (if Single)
  • Birth Certificate (If single)
  • Certificate of Employment
  • Payslip
  • Marriage Contract (if married)
  • Tax Identification Number (TIN)
  • Latest Proof of Billing
  • Income Tax Return (ITR)
  • 52 Postdated Checks

INHOUSE FINANCING – OFW – (Single or Married)

  • 3pc. pcs. 1×1 ID Picture
  • Photocopy of 2 Valid ID’s
  • Passport
  • Residence Certificate for the Current Year (Cedula)
  • Certificate of No Marriage (CENOMAR) (if Single)
  • Certificate of Employment
  • Payslip
  • Birth Certificate (If single)
  • Marriage Contract (if married)
  • Tax Identification Number (TIN)
  • Latest Proof of Billing
  • 52 Postdated Checks
Frequently Asked Questions

About Reservation Fee

  • Reservation fee is part of your downpayment.
  • It is not refundable.
  • Transfer to another unit or owner is allowed within 120 days from reservation date provided under same Agent and Developer.
  • A transfer fee of Php3,000.00 is required upon approval of request.
  • Personal checks, Manager checks, Credit Card, Debit Card and Cash are accepted as reservation payment.

About Monthly Downpayment

  • The first downpayment will start 30-45 days after reservation date.
  • Downpayment and amortization will not be paid at the same time. No overlapping of payments.
  • Downpayments are not refundable.
  • Downpayments can be transferred to another person or unit provided under same agent and Developer.
  • Transfer fee of Php3,000.00 is required to be paid upon approval of request.
  • Approval may take 2 weeks.

About Monthly Amortization

  • The first monthly amortization will immediately start after downpayment term (for bank and inhouse financing).

 What are Processing Fees for Profriends project?

Processing fees are payment for the following:

  1. Premiums for the first years coverage-mortgage redemption insurance (MRI) & fire insurance.
  2. Real property taxes for one year.
  3. Blue print of the houseplans (one set).
  4. Home Owners Association (HOA) dues for preventive maintenance, Administrative and documentary expences.
  5. Title transfer cost (for bank financing only).
  6. Inhouse financing do not include Title transfer cost.

How much is the Move-in Fee?

There is NO Move-in fee. Profriends does not charge MOVE-IN fees.  You will apply for water and Meralco connection after house is turned-over and accepted.

For other housing projects in las Pinas & Paranaque, there are MOVE-IN FEES that cost between Php20,000 – up depending on the location of the house.

Water Connection

  1. Buyer will apply personnaly with the company that maintain the water system of Profriends projects.
  2. Water System & Supply – Clean, treated deepwell water supply by a private company.  Rate is almost same with Maynilad.  Estimated time of water connection:  1 week.
  3. Estimated total cash-out needed:  Php 2,500.00.   Will soon be Maynilad supply once their expansion in entire Cavite is completed within 2 years.  Estimated cost for water connection is Php3,800.00 (deposit & meter).  Timetable is 1 week from application date.  Cost may vary depending on choosen project.

Meralco Connection

  1. Buyer will apply personally with Meralco.
  2. Residencial rate for every residence.  Estimated time of Meralco connection: 3 weeks from application date.  Estimated total cash-out for applying:  Php 4,000.00.00.

Construction Bond

Construction bond Is required by PROFRIENDS only if Buyer construct improvement (tiles/fence/balcony) after house is accepted.  Estimated amount is Php 5,500 – 10,500.00 depending on housing project choosen.  This Bond will pay for any damages (should there be any) during construction of improvement period.  Bond will be refunded if there is no damage done during construction.

For BANK Financing & Preselling Houses, When Can I Move-in? 

  • You can move-in 9 -10 months after downpayment term.

For INHOUSE Financing & Preselling Houses, When Can I Move-in? 

  • You can move-in 1-3 months after downpayment term.

For BANK Financing - Ready for Occupancy Houses (RFO), When Can I Move-in? 

  • You can move-in 4-5 months after downpayment term.

For INHOUSE Financing - Ready for Occupancy Houses (RFO), When Can I Move-in? 

  • You can move-in 1-2 months after downpayment term.

For Spot Cash Buyers or Spot Full Downpayment

  • For not-RFO units, house completion and turnover will follow the Developer’s house completion schedule shown in the Inventory Sheet.
  • For Ready for Occupancy Units (RFO) that has Notice of Completion, Buyers can move-in within the month.

Important Reminders:

  • Profriends will not allow you to move-in or transfer unless ALL REQUIRED DOCUMENTS and POSTDATED CHECKS are fully submitted.

House construction

  • House construction will start after downpayment term.

House improvement for In-house Financing

  • Developer only accepts deletion of tiles in bathroom & kitchen countertop.
  • Deletion charge is Php1,000.00. Letter of request must be sent before house construction starts.
  • Approval of request takes 2 mos..  You will be informed.
  • Buyer must get outside contractor to do the improvement of their unit.
  • You can only start house improvement after house is turned-over.

House improvement for Bank

  • No deletion is allowed if house is under bank financing.

Homeowners Association 

  • Homeowners Association varies in each villages.
  • Payment will start immediately once Buyer accepted / receive the key of the house kahit hindi pa siya lumipat or tumira sa bahay.
  • If the monthly homeowner’s dues is not paid on time, this will be included in the water billing once you applied for water connection. This is for the benefit of the village.

Contact Us If You Have Further Questions and Concerns

For Inquiries and Reservation

Landline:
(+046) 440-5579 (Cavite Telephone)
(+046) 450-5812 (Cavite Telephone)

Mobile:
(+63) 917 530 5817 (Globe)
(+63) 908 884 7387 (Smart)
(+63) 932 885 4162 (Sun)

For International Clients thru Viber:
(+63) 917 530 5817

Business Hours:
Mon – Sun: 8:00 AM – 7:00 PM
(Open on Public Holiday)

Email us at:
sales@elegantdreamhouses.com

About Elegantdreamhouses

Welcome to Elegantdreamhouses.com – a real estate website that help Filipinos find affordable house and lot that fit their style, needs and budget.

My name is Virginia (Virgie) Lazarte, a license real estate broker since 2009 and also an Accounting graduate of PSBA Manila. My involvement with real estate started in 2007.

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