Buyer’s Guide

 

LOCATION

When buying real estate,condo units included, a major factor to consider is location, location, and, well, location. This is because where a property is situated greatly affects, for one, the potential for price appreciation.

 

DEVELOPER

Determined if the Developer has a good track record in finishing the project on time.

 

BROKER / AGENT

Is the broker / agent license with the PRC, HLURB ?

 

PROJECT SPECIFICS

Clarify if the lot has a title in case of residential lots. Furnished, semi furnished, or just plain finish in case of condominium units.

SITE VIEWING / TRIPPING

Be sure to visit the project before deciding to push through with investing.

 

RESERVATION FEE

Ask the broker / agent if the reservation fee is refundable.

 

 

FINANCING OF THE LOAN

Can it be finance through bank, Pag-ibig, or in-house.

 

ARE YOU QUALIFIED

Ask yourself if you are qualified to invest, since most broker / agent are hesitant to ask your salary as not to offend you, bear in mind that most banks required a monthly salary of 40k / month for the buyer to qualify for a loan.

 

NET DISPOSABLE INCOME

Divide your monthly amortization by 33% to determined the NDI.