Here are some of the basic guidelines when purchasing properties in the
Philippines.

1. Who can purchase properties in the Philippines?

General Rule:
Filipino Citizens or corporations at least 60% Filipino-owned. Purchase by foreigner (non-citizens) is allowed for condo units, providing that the ownership does not exceed 40% interest of the condominium project.

2. What are the standard payment term?

Properties owned by private persons almost always require cash payments.

Properties owned by developers have installment terms (in-house financing or bank financing) but most often have discounted prices for cash payments.

3. What are the things that a buyer should check before purchasing a property?

Title is clean (free from any lien / claims / mortgage).
Property must not have delinquent real estate taxes, unpaid dues.

4. How long to process transfer of ownership?

Processing the transfer of ownership takes two – three months provided all documents necessary for the transfer are complete.

5. What are the documents that a buyer should have after purchasing a property?

a. Proof of ownership
• Transfer Certificate of Title ( land )
• Condominium Certificate of Title ( condo units)

b. Tax Declaration
• Land
• Building (if property has structure / improvements)

c. Deed of Sale