how-to Guide to acquiring your First Home

If you are currently living in a rented or leased apartment, there are certain conditions which you just have to live with. Pesky next-door tenants. Dripping faucets and a leaking ceiling which takes months to repair. Couple these with the fact that unless you actually purchase the apartment unit, you're basically paying for somebody else's house. In this way, it is much better to own a home in the form of a townhouse, rather than settle for a rented unit, knowing that it can never be truly yours. But buying a housing unit is a big leap; personally, since you will be dealing with lifestyle changes which are drastically different; and financially, since acquiring your first house is necessarily a huge investment.

The first step which makes your dream home a reality is research. You have to get a general feel of the real estate market. There are a variety of housing units which are available to any prospective home buyer, and it is best if you compare the ongoing rates, so you can assess which ones are most suitable to your existing and target budget, and your current situation. Subdivision and housing developers usually afford potential buyers a tour of all their available units, so take advantage of such an opportunity to size up the houses, and see which ones are most suitable for your first home.
If you currently can't shoulder the cost of financing for your new home, you'll need to apply for a loan. Home loans are flexible and vary between lenders, but if you have a good credit rating with your bank and is able to maintain it, you'll have no problems with the approval. Applying for a loan to finance your home does not necessarily mean that the lender or the bank will shoulder all the costs, though. You may need to post some cash upfront to pay for service fees. Make sure that you are clear with the terms of the loan agreement before you affix your signature on the dotted line.
Probably the most crucial factor in getting the home of your dreams is getting connected with the best real estate agent. An agent serves as your front man in the real estate market, conducting property investigations, and looking for prospective houses which more or less fits your current needs and financial capability. You'll also need a qualified home inspector to assess if the house you end up choosing pass the local area's building codes for safety. During this process, you'll inevitably pick up a lot of real estate terms that are initially unfamiliar to you. See to it that you get acquainted with the gist of these jargons, and don't entirely rely on the word of your agent. This ensures that you are in the know when going into negotiations, and if worse comes to worst, you are not left entirely in the dark.
Searching for and owning your first home may be quite frustrating along the way; sometimes you'll be faced with a blank wall in the real estate market, other times your expectations on a house doesn't hold up when you actually see the unit. As long as you keep your head up and your patience unwavering, you'll eventually acquire the property investment you are aiming for.

rico.driven.0923.556.4517

BDO Home Loan

Buying and owning a home are two different things. BDO Home Loan All-in Financing brings together everything you need at all stages of owning a home including financing charges such as Transfer Cost, Title Registration Fees, Insurances and Incidental Expenses.

Now, you can finally call your home your own!

What's more, you also enjoy low interest rates with longer payment terms. Now that's worry-free home financing solutions only from BDO Home Loan.

Apply Now! Call 631-8000 or 1-800-10-6318000 (Domestic Toll-Free) or visit the nearest BDO branch or BDO On-site

There's more in store when you sign up for a BDO Home Loan:

Competitive Rates

Bank Charges

Appraisal Fee	P3,500
Appraisal Fee outside Meto Manila	P4,000
Processing Fee	P3,000.00
Mortgage Redemption Insurance	P4,430.00 for every million, assuming standard rating
Fire Insurance	Depends on the appraised value of the Improvement
Mortgage Registration Expense (based on loan amount)	Depends on the loan amount

Fast and Efficient Processing
Use the funds for any of these Loan Purposes
Security/Collateral
Loanable Amount
Mode of Release
Flexible Payment Terms
Various Payment Options
Earn Reward Points via BDO Rewards which can be redeemed at any SM Department Store for items of your choice
Convenient Application Locations

Application Requirements

Eligibility Criteria
Pre-Approval Requirements
Insurance Requirements
Post Approval Requirements

Apply Now!

Click here to view and download the Home Loan application form (for Non-OFWs).

For our Kabayans working abroad, please use the Asenso Kabayan Home Loan application forms by clicking on the following links:

1. Application Form
2. Special Power of Attorney Form

For Brokers:
Click here to view and download the Home Loan Brokers' League application form.

For Mortgage Redemption Insurance, click on the following links:

1. General Information
2. Health Statement

For inquiries, please call:
Call Center 631-8000
Hot Lines 688-1220, 688-1223, 688-1232

Provincial Business Center Contact Numbers:

PROVINCIAL BUSINESS CENTERS	UNIT HEAD	CONTACT #
PAMPANGA	Celia Liwanag	(045) 963-2076; (045) 963-9478
BAGUIO	Enrico Manansala	(074) 442-3052; Fax: (074) 442-1978
BATANGAS	Lorybel Katigbak	(043) 723-0401; (043) 723-5151; (043) 984-1927
DAGUPAN	Elisa Cheng	(075) 522-7424; Telefax: (075)523-3606
SAN PABLO	Christian Buenaseda	(049) 561-1046; (049) 561-1040; (049) 561-1047
BACOLOD	Dennis Piccio	(034) 433-2764; (034) 434-4943
CEBU	Domingo Dela Pena	(032) 231-4318; (032) 232-1500
ILOILO	Jan Acanto	(033) 337-8892; Telefax: (033) 3378883; (033) 335-8194; (033) 338-3449
CAGAYAN DE ORO	Dale Gomez	(088 231-5440; (088) 857-2627
DAVAO	Marivic Chi-Parian	(082) 224-0223; (082) 222-3150; Fax: (082) 221-7920

BDO Asenso Kabayan Home Loans

Product Description

Product Features

PHP 500,000 for House and Lot, Townhouse and Condominium

PHP 300,000 for vacant lot

PHP 100,000 for Housing Equity Purposes

provided property is primary residence

Up to 80% of appraised value for house & lot*

Up to 80% of appraised value for townhouse*

Up to 70% of appraised value for vacant lot*

Up to 70% of appraised value for condominium*

For Housing Equity Loans:

Owner-Occupied - For Residential/ Commercial, 80% of appraised value; For Condominium, 70% of appraised value Not Owner-occupied - For Residential/ Commercial, 70% of appraised value; For Condominium and Vacant Lots, 60% of appraised value

* Provided property is for primary residence

House & Lot / Townhouse : Up to 15 years

Condominium : Up to 15 years

Vacant Lot : Up to 10 years

Home Equity Loan

Owner Occupied -	Residential Condominium Commercial	: Up to 15 years : Up to 15 years : Up to 10 years
Not Owner Occupied -	Residential Condominium Commercial/ Vacant Lot	: Up to 10 years : Up to 10 years : Up to 5 years

Must be residential

May or may not be owner-occupied

Any of the following:

Single detached

Townhouse

Duplex

Condominium units

Vacant lots

Mixed-use

Apartment (up to 4-doors)

Must be free from liens & encumbrances

For Acquisition: One-time release

For Construction: Staggered releases as follows:

First Release - 70% of Appraised value of lot

Second Release - upon 30% completion

Third Release - upon 60% completion

Fourth Release - upon 90% completion

Prevailing Rate at the time of availment

Yearly repricing after the fixing period based on 364-day T-bill rate + 4% or 1-year MART 1 + 3% or prevailing market rate at the time of repricing, whichever is higher.

Application Processing Guidelines

The Art of the Deal - Donald Trump

by Houses On Sale Rico on Sunday, May 8, 2011 at 8:29pm

Think big. He is happy while you are not thinking big, because then you won't be a competitor of his.
Protect the downside and the upside will take care of itself. He states he is more of a negative thinker in this regard and in this way protects his capital, or the downside of a deal.
Maximize your options. By having more options going into a deal so that in the case of one failing you can go on to another.
Know your market. Do not worry too much about what the 'experts' say, but use your own knowledge and conduct grass roots surveys.
Use your leverage. It is best to go into a deal with something that the other guy wants or, better yet, needs.
Enhance your location. Besides location, location, location, work to make it a better location.
Get the word out. Market your product or service so that people know about you.
Fight back. Do not let anyone trample on you or abuse you unfairly.
Deliver the goods. What more do I need to say - deliver the goods!
Contain the costs. Spend what you have to but do not overpay.
Have fun. Live life and have some fun.

Capital Gains Tax in Philippines

by Houses On Sale Rico on Wednesday, May 25, 2011 at 9:27am

There is a 6% Capital Gains Tax and a 1.5% Documentary Stamps on the disposal of real estate in the Philippines. While the Capital Gain Tax is imposed on the gains presumed to have been realized by the seller from the sale, exchange, or other disposition of capital assets located in the Philippines, including other forms of conditional sale, the Documentary Stamp Tax is imposed on documents, instruments, loan agreements and papers evidencing the acceptance, assignment, sale or transfer of an obligation, rights, or property incident thereto. These two taxes are imposed on the actual price the property has been sold, or on its current Market Value, or on its Zonal Value whichever is higher. Zonal valuation in the Philippines is set by its tax collecting agency, the Bureau of Internal Revenue. Most often, real estate transactions in the Philippines are being sealed higher than their corresponding Market and Zonal values. As a standard process, the Capital Gain Tax is paid for by the seller, while the Documentary Stamp is paid for by the buyer. However, either of the two parties may pay both taxes depending on the agreement they entered into.

- wikipedia -

SSS HOUSING LOAN REQUIRED DOCUMENTS

by Houses On Sale Rico on Tuesday, April 19, 2011 at 10:29pm

What are the required documents for the loan?

The following documents should be submitted upon application:

Mortgagor’s Application for Housing Loan with 1” x 1” ID pictures of Principal Applicant and Spouse (Original).

Certificate of Loan Eligibility (Original) – (P100 Service Fee).

Certification from POEA, DOLE, OWWA, SSS Foreign Representative Office or Philippine Embassy/Consular Office (Original).

Latest Contract of Employment (Photocopy).

Contract to Sell with statement of latest balance (Original).

Owner’s copy of the Original/Transfer Certificate of Title (Photocopy).

Latest Property Tax Declaration and Realty Tax receipt (Photocopy).

Lot Plan with vicinity map duly signed and sealed by Registered Surveyor or Geodetic Engineer (Blue Print).

Building plans/specifications/picture of the house (Blue Print).

Confirmation of Completion and Appraisal from Home Guaranty Corporation located at Jade Bldg., 335 Sen. Gil Puyat Avenue, Makati City with tel. no. 895-90-11 (Original).

A set of twelve (12) postdated checks covering twelve (12) monthly installments and shall be repeated every 12 months thereafter until the loan is fully paid.

Certificate of Acceptance and Occupancy duly signed by the borrower if house is 100% complete at the time of loan filing (original).

Special Power of Attorney (if filing is thru a representative) (original).

Certified True Copy of the Original Transfer Certificate Title issued by the Registry of Deeds.

Note:

Present original and submit one (1) photocopy for authentication purposes.

Applicant must be up-to-date in all existing loan accounts with SSS subject to verification by SSS-Real Estate Department.

SSS reserves the right to require additional documents if deemed necessary.

Application Fee – ½ of 1% of loan amount or P500 whichever is higher, for both socialized and low-cost housing.

Inspection Fee – P500 for both within and outside Metro Manila.

Where should the member file his application?

To the nearest SSS office or foreign representative office or the Real Estate Department, 5/F, SSS Bldg., East Avenue, Quezon City).

How can an OFW repay his/her loan amortization?

Issuance of a minimum of twelve (12) post-dated checks which shall be repeated every year thereafter until said loan shall be fully settled. Subject arrangement is incorporated in the mortgage contract entered into by the SSS and the borrower.

Thru accredited collecting banks with overseas branches/offices.

Thru the SSS Branch Tellering System

List of Collecting Banks with Overseas Branches/Offices

Allied Bank

Asia United Bank

Asiatrust Development Bank

Bank of Commerce

BPI

Chinabank

Development Bank of the Philippines

East West Bank

Equitable PCI Bank

Export and Industry Bank

International Exchange Bank

Land Bank of the Philippines

LBC

Metrobank

Philippine National Bank

Rizal Commercial Banking Corporation

Security Bank

UCPB

List of SSS Foreign Representative Offices

For more information contact the SSS Real Estate Department in Quezon City with telephone number 920-64-01 locals 5121 to 5128 or at the SSS office nearest you.

LIG Condo - QUEZON CITY, READY FOR OCCUPANCY

SSS HOUSING LOAN FOR OFW'S

by Houses On Sale Rico on Tuesday, April 19, 2011 at 10:24pm

What is the Direct Housing Loan Facility for Overseas Filipino Workers?

The Direct Housing Loan Facility is designed to support the Government’s Pabahay sa Bagong Siglo Program which aims to provide socialized and low-cost housing to overseas Filipino workers.

What are the eligible purposes of the loan?

Construction of a new house or dwelling unit on a lot owned by the applicant free from lien/encumbrances;

Purchase of a lot and construction thereon of a new house or dwelling unit;

Purchase of an existing residential unit which may be a house and lot, a condominium unit or a townhouse; and

Purchase of an existing residential unit foreclosed by SSS, GSIS, HDMF (Pag-Ibig), HGC and other GFIs.

Who may borrow under the loan program?

A certified overseas Filipino worker;

An active SSS member and has paid at least twelve (12) months continuous contributions or at least twenty-four (24) months total contributions;

Not more than sixty-five (65) years old;

Not previously granted a housing loan by SSS, refund of contributions, retirement or total permanent disability benefit; and

Up-to-date in the payment of all SSS contributions and other loan amortizations.

One of the spouses may still qualify for another loan if the other obtained the loan, prior to date of marriage and is not delinquent.

Who is an OFW?

Currently deployed with a contract processed through the POEA or authenticated by the Embassy abroad.

Those with employment contracts which are awaiting renewal/deployment; however, release of loan shall be made upon renewal/ deployment.

Citizens or immigrants of foreign countries but are interested in buying housing units for their families who are still in the country.

Long-term resident overseas Filipinos who wish to avail of housing packages either for themselves when they retire or when they visit the Philippines and/or for their extended families.

How much is the loanable amount?

The maximum loanable amount is P1,000,000.00 or whichever is the lowest of the amount applied for, the amount justified by the paying capacity, the loan value of the collaterals as determined by the SSS.

Socialized Housing    - P 300,000.00

Low-Cost Housing    - P 500,000.00
                                 - P 1,000,000.00

A maximum of three (3) qualified SSS members may be tacked-in for a single loan up to the combined maximum individual availment for the loanable amount secured by the same collateral, provided they are related within the 1st civil degree of consanguinity or affinity.

What is the term of the loan?

The loan is payable in multiples of five (5) up to a maximum of thirty (30) years but not to exceed the economic life of the building and the difference between the age of the borrower and 70, whichever is shorter.

What is the interest rate of the loan?

Up to P300,000.00 – 9% p.a. fixed for the term of the loan.

Over P300,000.00 up to P500,000.00 – 13% p.a.

Over P500,000.00 up to P1,000,000.00– 14% p.a.

What are the collaterals for the loan?

The loan shall be secured by a first Real Estate Mortgage on the house and lot to be financed. The REM shall be annotated on the member-buyer’s TCT and shall be registered with the appropriate Registry of Deeds. It shall also be covered by an HGC guaranty.

Tree-lined avenues welcome you at Mahogany Place III, a pedestrian-friendly community highlighted by sprawling landscaped parks, country club-style amenities, and hotel-inspired concierge service, tucked in the emerging city of Taguig.

DISTINCT FEATURES

Center of Business and Leisure Within Easy Reach
This is a DMCI Homes signature community that places you at the quiet side of the city, while within reach of the conveniences of in-city living. The country's growing financial and entertainment districts—Bonifacio Global City and Makati—are now just a few minutes’ drive away.
Exclusivity Coupled with Asian Elegance
It is one of the most exclusive subdivision developments, with only approximately 300 home units spread across 8-hectares of land. It features a distinct Asian contemporary design theme, highlighted by Asian-inspired rooflines and façade designs in subtle color tones.
High on Space and Greens
Mahogany Place III has the widest, pedestrian-friendly open spaces. These are dedicated to tree-shaded parks, verdant gardens, and landscaped amenities area.
The Heartland
Mahogany Place III's Clubhouse features a country club-like design and houses a wide array of rest and recreational amenities that cater to your various needs.
Hospitality Like No Othern
If hotels have their Concierge desks, we have our very own Property Concierge Office. Located inside the village, our Concierge officers will be responsible for keeping you and your loved ones safe, secured, and pampered. They'll provide you with an array of first-class and reliable services not found in other residential subdivision developments.

75 sqm - 380 sqm
Php 8.9M - 23.6M, Ready for Occupancy,Reservation 50K, 30% spot,10% payable until RFO,60% Bank Financing.

The Art of the Short Sale

by Houses On Sale Rico on Thursday, April 14, 2011 at 5:21pm

If you are not aware of just who Sun Tzu was, then you may want to order The Art of War. It is an absolute must read for those in business.

More than 2,500 years ago, there was a period in China known as the Age of Warring States. This was an age of great conflict and uncertainty as seven warring states fought for survival & control of China.

For these states to win they sought out any means of gaining advantage over their opponents; those individuals with knowledge on strategy & leadership were extremely valuable and highly coveted.

During this period arose a general from the state of Ch'i known as Sun Tzu. His ability to win victories for his warlord gained him fame and power.

To hand down the wisdom he had gained from his years of battles Sun Tzu wrote a book, The Art of War, that became the classic work on strategy in China. His book, which details a complete philosophy on how to decisively defeat one's opponent, has given guidance to military theorists and generals throughout the ages.

Military greats and business leaders alike have hailed The Art of War. Former U.S. Chairman of the Joint Chiefs of Staff Colin Powell said, I've read the Chinese classic The Art of War written by Sun Tzu. Sun Tzu has been studied for hundreds of years. He continues to give inspiration to soldiers and politicians. So every American soldier in the army knows of his works. We require our soldiers to read it."

Today, Sun Tzu's appeal has extended beyond the military realm into the world of business. IBM, XEROX, 3M, and many other corporate giants use the teachings of Sun Tzu in their training of executives because business by definition deals with competition.

So in looking at how Sun Tzu can be applied to short sales, let's look at a few of his teachings and how they can be applied, and be applied successfully.

The Grand Duke said "one who is confused in purpose cannot respond to his enemy".

This is the beginning of our journey in applying the teachings of Sun Tzu to our real estate business. Without purpose there can not be any victory. Without purpose there can be no success. Most importantly, being confused in purpose leaves you weak and unable to respond properly to the challenges of the real estate business.

For instance, if your goal is to successfully complete a short sale transaction, you have to define your purpose while simultaneously being able to respond to that of your enemy's; in this case the foreclosing lender.

When we enter into a short sale transaction we define our purpose very clearly. Our objective is to obtain the highest possible discount on the payoff we are seeking and to sell the property by dual transaction immediately at closing to a buyer we have farmed. We also do not want to be involved in any transaction where we are not receiving at least 30% off of current market value and we expect a minimum of $20,000.00 profit per transaction.

This gives a very, clearly defined purpose and allows us to easily respond to our enemies, whether lender or real estate agent. Whatever response the lender gives us in reaction to our short sale proposal, we are not deterred in endeavoring to achieve OUR goal..OUR purpose.

Here are some other really valuable "Tzuisms" that we can apply to short sales.

"Knowledge that does not go beyond what the generals know is not good."

This means that being successful is more than simply being on the same page. A short sale project is worthless if it's not effectively communicated to everyone on our team (Seller, Buyer, hard money lender, agent, Title Company, attorney, office staff). As a project leader on a deal, or as an agent representing the project, one must make certain that all are informed, educated and prepared to orchestrate the transaction successfully.

How many real estate agents know how to manage a short sale correctly? Can you truly coordinate a short sale? Are you following the game plan as designed by the Buyer, or are you out there winging it, hoping it all works out? Calling a bank and asking if they accept short sales is transactional suicide. Sending every offer to the bank for approval is short sale suicide.

"If your troops do not equal his, temporarily avoid his initial onrush."

Do not initially engage a competitor unless you are prepared. In regards to a short sale, don't ever, ever speak to a bank regarding a short sale until you are prepared to do so. This means the only contact you are to have with a lender is to find out who the contact person is and what their contact information is. That's it; you are not prepared at this point to negotiate. You are not educated, do not have all of the necessary information compiled, no package has been prepared and if you are just sending offers to the bank without preparing a full package to justify your requested discount then you will not likely succeed and be overrun by your opponent, the lender.

"If officers are unaccustomed to rigorous training they will be worried and hesitant in battle"

In his teachings, Sun Tzu often reiterates the importance of preparation. Proper training, proper education and battle tested experience are crucial. Of great significance is that Sun Tzu believed that training should be distinguished from education. While the latter employs a classroom setting, the former provides hands-on learning. In relation to short sales, you can see how to be a short sale expert; you need to have BOTH aspects. You need to have professional class room oriented educational instruction as well as successful hands-on experiential training. Absent both of these vital components you hardly are an expert. In addition, the value of real estate cross-training is integral to your short sale success.

You need to have knowledge of how things work in a short sale and how things impact a short sale. Issues like latent material defects, inspection problems, double closings, Hard Money lending, loss mitigation techniques, subject to transactions, obtaining deeds, foreclosure law, certain tax ramifications, and much more are parts of a short sale expert's toolbox. What's in yours?

"Therefore, when I have won a victory I do not repeat my tactics but respond to circumstances in an infinite variety of ways."

Each deal is different. Sun Tzu recommends that you examine what you did right or wrong and changing your strategies accordingly. Peyton Manning is a MVP quarterback in the NFL, part of his pre-game preparation is watching every defensive play, from every single game, that his opponent has played that season. When we work our short sale deals we do the same. We review what our opponent is doing, and has done and what position they are currently in.

We look at what REO's the bank has in inventory, we check their annual report and see what level of non-performing assets the bank has on their books, we sometimes buy a single share of stock so we can obtain various documents and the ability to attend shareholder meetings and conference calls, we see what the level of foreclosure activity they have in our immediate market; I could go on and on but suffice it to say, you need to know what changes you need to make in your presentation and approach and continually fine tune your game.

"The supreme importance in war is to attack the enemy's strategy."

The bank wants to make sure they get as much money back from the non-performing asset as they can. In mitigating their loss, their object and purpose is to minimize your profit. It is of the utmost importance that you attack their strategy as forcefully as possible. You have to be in a position of absolute dominance. You do not want to show up to a gun battle with a water pistol.

Our short sale package is over 150 pages once complete. Our template alone is 100 pages. We want our artillery to be armor piercing. We want to go for the jugular and not release until we win. It is of absolute importance to strike hard and attack the enemy's strategy. If you are not prepared to use every weapon in your arsenal. If you are not educated and trained as to how to wage battle in a short sale setting, then you will succumb to the lender's strategy.

By the way, you do know they have their own defined personal battle strategy? Don't you? You do know they are practicing these exact precepts against you don't you?

If not, you are underestimating your opponent and as Sun Tzu teaches, "He will win who, prepared himself, waits to take the enemy unprepared."

The bank will own you if you do not know how to properly and expertly execute a short sale.

"To fight and conquer in all your battles is not supreme excellence; supreme excellence consists in breaking the enemy's resistance without fighting."

Your goal, like ours has been, is to reach the point in your short sale business that you no longer need to fight. Become a proven opponent. Get to a point of credibility that once the lender acknowledges your presence, you can go straight to negotiation. No need to neither battle and prove your might nor demean your opponent. A mutual respect has been achieved through previous battle. Our capacity to wage battle and the manner in which we are prepared to do so is known and precedes us. Now, with many lenders, we can break their resistance to our numbers simply by being excellent in what we do. They know what kind of package to expect, they know what lengths we are willing to go. They know we are educated, trained and skilled opponents. We are respected warriors.
- http://www.content4reprint.com/finance/real-estate/buying/sun-tzu-and-the-art-of-the-short-sale.htm

One Bedroom 40 sqm to 46 sqm. PhP 4.3M to PhP 4.5M

Two Bedroom 91 sqm to 94 sqm. PhP 8.5M to PhP 8.6M

Three Bedroom 134 sqm to 143 sqm. PhP 13.2M to PhP 14.3M

List Price Php 4.5M
20% in 6mos
80% Bank
6% Discount
Selling Price Php 4.2M
w/ VAT Php 4.7M
Reservation Php 50,000.00
Balance 80%Php 3.7M

or

SPOT CASH
RESERVATION Php 50,000.00
12% discount Php 4.2M
BALANCE Php 112,000.00

Buying a Home

by Houses On Sale Rico on Monday, April 11, 2011 at 7:14am

5 Immutable Laws of Buying a Home
Posted on March 18, 2011 by Alfonso's Page
As the proliferation of real estate choices have become more apparent, we are subjected to a wide variety of different variables that can affect our buying decision. Especially in the Philippines where there are so many developers claiming to be the best and largest developer in the industry we become misinformed who truly can deliver and provide the best value for their money.
Our blog team here at DMCI Homes hopes to provide with what we call the “5 Immutable Laws of Buying a Home” to help buyers and homeowners determine whether they have made the right choice in finding a home for the best value for their money. The following laws are not in any specific order.
1.Price- For many, buying a home only happens once or twice in a lifetime. Considering this in mind, many spend a lot of time and effort in choosing the best investment for their hard earned money. Hence, the value-for-money is an important purchasing factor in buying a home. Be sure to ask the developer the available payment options; be aware of bank financing, in-house options, and cash payments. For those who do not qualify for bank loans, there are some developers who have tie-ups with private banks that are flexible on approving loans if the applicant has had a positive track record of payments for in-house financing. Understanding your available payment options will help you save money on interest rates alone. HSBC charges a fixed rate of 8.99% for a five year loan with a minimum loan amount of P2 million, while some developers charge 17% in fixed interest rates for a five year loan.
Reference- HSBC Personal Home Loans
2.Location- The majority of our homeowners that have purchased a home at DMCI Homes have stated that location is one of the top three factors in their purchasing decision. Accessibility to work, school, commercial business centers (CBD), and hospitals are all important factors to consider when purchasing a home.
3.Size- In our experience, homeowners–especially young growing families–are very conscious about the space they can move around, for their own personal utilization, as well as for their growing family.. It would be recommended to determine whether you are looking between hi-rise condominiums and medium-rise condominiums (MRB’s). Hi-rise condominiums consists of about 10 and more stories, while MRB’s consists of 10 stories or less. I have listed below the ideal composition for a High-rise and a Mid-rise development based on experience:
a.)Hi-rise condominiums, they are generally more location-centric. Many people opt for hi-rise condominiums as they are closer to the CBD and major thoroughfares allowing easy access to work, school, etc. Keep in mind that many developers typically allot 1,800 units/hectare and above for a typical 25-30 story condominium, while a favorable number of 1,100-1200 units/hectare for a typical 25-30 story. To get this data all you would need is to get the total number of units in the project divided by the total land area in hectares.
Formula for finding units per hectare:
Total units
—————————- = Units per hectare
Land Area (hectares)
b.)Medium-rise condominiums (MRB) attract homeowners who would consider living farther in exchange for a less dense community. Generally attracting starting families and young professionals. The density of MRB’s are generally between 400-450 units per hectare, while a favorable number of 250-280 units/hectare is ideal. Another key factor to look into is the amount of land area devoted to amenities and open space. 35-45% of the land area devoted specifically for amenities is ideal, most developers allot between 12-15% of land area to amenities.
P.S.-some developers include easements, roads, and other structures in their allotted land for amenities. Be sure to ask what the actual percent of land area is devoted specifically to amenities.
4.Quality- Nowadays quality has been a specification that many have begun to take into consideration more so than before, especially after the calamity that struck Japan. It is important to make sure that you have done your research on developers’ track records in respect to construction. In one developers’ project, which it is built very near the Marikina West Valley Fault line, construction is deemed important in regards to the precautions taken into construction of the project.
5.Developer credibility- Last but not least, developer credibility plays a considerable role in the purchasing experience. Investing a large amount of money in the wrong developer may cause problems later on. For example, one developer has been accused of using ‘fake borrowers’ to borrow loans from Pag-Ibig and from private banks, this is a controversy that should be avoided at all costs. Note: research the company you intend to invest and make sure you read reviews, track records, testimonials, news articles, and the likes. It is also better to know the corporation’s mission statement and values for peace of mind.
- http://alfonsospage.wordpress.com/2011/03/18/5-immutable-laws-of-buying-a-home/

Mastering the Art of Selling Real Estate

by Houses On Sale Rico on Tuesday, April 5, 2011 at 6:36pm

A professional salesperson is a person who earns more money than the average salesperson. If you are not earning two to three times more income than the average real estate salesperson, you are not as professional as you could be. If you are unwilling to make the changes necessary to achieve this level of professionalism, you should consider getting a job where someone pays you a salary.” - Tom Hopkins, Mastering the Art of Selling Real Estate

How to Invest in South Forbes Golf City

by Houses On Sale Rico on Saturday, April 2, 2011 at 8:53pm

Step 1: Reserve a Unit
BUYER’S INFORMATION SHEET (BIS) - Download BIS

Print the downloaded BIS form.
Fill in the complete details and information required.
Affix your Signature over your printed name.
Send a copy to our International Sales Officer via fax, scanned email attachment, online file transfer.

RESERVATION AGREEMENT (RA) and COMPUTATION SHEET (CS
)
Download the Following:
- Reservation Agreement - Computation Sheet
- Why Invest
- Conformity Sheet
- Bank Authorization (optional)

Print the downloaded forms.
Fill in the complete details and information required.
Affix your Signature over your printed name.
Send a copy to our International Sales Officer via fax, scanned email attachment, online file transfer to OFFICIALLY BOOK THE UNIT.

Note:
• RA is the INITIAL AGREEMENT between CATHAY LAND, INC. and the BUYER.
• RA stipulates the details of the purchase: PROJECT AND UNIT TYPE, UNIT PRICE, TERMS OF PAYMENT, and STANDARD TERMS AND CONDITION.
• Notarization is not needed.
RESERVATION FEE PAYMENT (RF)

• Payable in CASH or CHEQUE
• Payment must be made within 24 hours from the date of Reservation Application.
• SEND a copy of the PAYMENT TRANSACTION REPORT, FUND TRANSFER FORM, WIRE TRANSFER FORM, or the REMITTANCE SLIP to our International Sales Officer as proof of payment via fax, scanned email attachment, online file transfer.

VALID IDENTIFICATION (ID)

Photocopies of VALID IDs with signature must be submitted and sent to our International Sales Officer via fax, scanned email attachment, online file transfer.
Step 2: Payments
DOWN PAYMENT (DP)

•   DP is payable in CASH or CHEQUE
•   DP may vary depending on the project and on the BUYER’S chosen payment term.
•   DP must be paid within 30 calendar days from the payment date of RF.

POST-DATED CHEQUES (PDC)

•   Cheques for the MONTHLY AMMORTIZATION (MA); RETENTION CHEQUE (RC) for TURNOVER BALANCE (TO) must be complete and submitted to CATHAY LAND, INC. within 30 calendar days from the payment date of the RF.
•   All PDCs must be CROSSED and made payable to CATHAY LAND, INC. only.
•   Please double-check the important details such as BANK ISSUER, ACCOUNT NAME, DATE, AMOUNT - in FIGURES, AMOUNT in WORDS, and SIGNATURE.
•   Total issued PDCs should be prepared according to the agreed and accepted payment term and / or payment schedule of the BUYER.
•   Inconsistencies with the given information, signature, and incomplete documents will delay the process and is a ground for cancellation of the purchase.
•   A CONFIRMATION LETTER containing cheque details will be sent through email upon receipt of PDCs by our International Sales Officer

Note: PDC for in-house financing only
Step 3: Authenticate Contract of Agreement
CONTRACT TO SELL (CTS)

•   CTS will be sent to the BUYER for conformity, after DP payment or 1st MA payment (whichever comes first).
•   Buyer must affix SIGNATURE, on one side, on each page including allotted BLANK located on the last page.
•   SIGNED CTS must be sent back immediately to CATHAY LAND, Inc. for Notary by the Philippine Embassy for Philippine Local-Domestic BUYERS or by Philippine Consulate for International BUYERS.

BANK PAYMENTS - You can pay at any of the following banks:
Account Name: Cathay Land Inc.
Philippine National Bank
Type of Account: Dollar Account Account Number: 398-90950001-9 Swift Code: PNBMPHMM Branch: Ortigas Branch Address: G/F JMT Condominium, ADB Ave., Pasig City, Philippines
MetroBank
Type of Account: Peso Savings Account Account Number: 629-3-62900347-0 Swift Code: MBTCPHMM Branch: Metro Bank Galleria Branch Address: Robinson's Galleria, Ortigas, Quezon City, Philippines

Accepted Valid Identification for INTERNATIONAL BUYERS: FILIPINO AND FOREIGN

Marriage Contract
2 pcs. Of 2x2 ID Photo
2 Photocopies of Valid IDs:

         a. PASSPORT
         b. Driver’s License
         c. Company ID
         d. Voter’s ID
         e. Postal ID

Accepted Valid Identification for PHILIPPINE – LOCAL AND DOMESTIC BUYERS: FILIPINO AND FOREIGN

Marriage Contract
Photocopy of COMMUNITY TAX CERTIFICATE (CTC)
Photocopy of TAX IDENTIFICATION NUMBER (TIN)
2 pcs. of 2x2 ID Photo
2 Photocopies of Valid IDs:

         a. PASSPORT
         b. Driver’s License
         c. Company ID
         d. Voter’s ID
         e. Postal ID
         f. For Foreign Buyers
         g. ALIEN CERTIFICATE OF REGISTRATION (ACR)

101 Reasons to Consider a Real Estate Agent

With more real estate resources available on the Internet, it may seem as if buying and selling a home is an easy task. These 101 reasons will show you the extent of knowledge and experience that an agent provides to help you through a real estate transaction. This list reflects actions, procedures and processes that a real estate agent may typically perform during a residential real estate transaction - and are all things that you could avoid doing yourself.

Typical Pre-Listing Activities

1. Research Current Properties
2. Research Sales Activity from MLS and public records databases
3. Provide Average Days on Market Assessment
4. Review Property Tax Roll
5. Prepare a Comparable Market Analysis (CMA)
6. Verify Ownership and Deed Type
7. Verify County Public Property Records
8. Perform Curb Appeal Assessment
9. Provide Public School Value
10. Provide a Listing Presentation
11. Analyze Current Market Conditions
12. Present Credentials
13. Deliver CMA Results
14. Discuss Planning and Strategy
15. Explain Listing Contract, Disclosures & Addendum
16. Screen Calls from Buyers or Agents
17. Explain Homeowner Warranty

Selling the Property Activities

18. Review Title Details
19. Order Plat Map
20. Create Showing Instructions
21. Obtain Mortgage Loan Information
22. Review Homeowner Association Fees and Bylaws
23. Submit Homeowner Warranty Application
24. Add Homeowner Warranty in MLS
25. Review Electricity Details
26. Arrange Inspections for City Sewer/Septic Tank Systems
27. Collect Natural Gas Information
28. Provide Security System Status
29. Determine Termite Bond Status
30. Analyze Lead-based Paint Status
31. Distribute Disclosure Packages
32. Prepare Property Amenities
33. Detail Inclusions & Conveyances with Sale
34. Compile Repairs Needed List
35. Send Seller Vacancy Checklist
36. Install Lockbox
37. Make Copies of Leases for Rental Units (if applicable)
38. Verify Rents, Utilities, Water, and Deposits for Rentals
39. Inform Tenants of Listing for Rentals
40. Install Yard Sign
41. Perform Interior Assessment
42. Perform Exterior Assessment

Advertising and Marketing a Listing

43. Enter a Profile Sheet into the MLS Listing Database
44. Provide Copies of MLS Agreement
45. Take Additional Photos for MLS and Marketing
46. Create and Advertise Property Listing
47. Coordinate Showing Times
48. Create and Mail Flyers
49. Compare MLS Listings
50. Develop Marketing Brochure
51. Notify the Network Referral Program
52. Create Special Feature Cards
53. Analyze Feedback Emails and Faxes

Handling Offers and Contracts

54. Receive Offer(s) to Purchase
55. Evaluate Net Sheet
56. Counsel and Mediate Offer(s)
57. Deliver Seller's Disclosure
58. Obtain Pre-qualification Letter
59. Negotiate Offers on the Seller's Behalf
60. Mediate Counteroffers or Amendments
61. Fax Contract Copies
62. Deliver "Offer to Purchase" Copies
63. Assist with Escrow Account
64. Distribute Under-Contract Showing Restrictions
65. Update MLS to "Sale Pending"
66. Review Credit Report
67. Deliver Unrecorded Property Information
68. Order Well Flow Test Reports (if applicable)
69. Order Termite Inspection (if applicable)
70. Order Mold Inspection (if applicable)
71. Confirm Deposit and Buyer's Employment
72. Follow Up with Loan Processing
73. Communicate with Lender
74. Confirm Approval of Loan
75. Remove Loan Contingency

Home Inspection and Home Appraisal Activities

76. Coordinate Buyer's Home Inspection
77. Review Home Inspector's Report
78. Interpret Loan Limits
79. Verify Home Inspection Clauses
80. Contractor Preparation
81. Confirm Repair Completion
82. Attend Appraiser Appointment
83. Provide Appraiser Information and Remove Contingency

Closing Preparations and Actions

84. Ensure Contract is Sealed
85. Coordinate Closing Process
86. Coordinate Closing Formal Procedure
87. Assist with Title Issues
88. Perform Final Walk-through
89. Verify Tax and Utility Preparations
90. Review and Distribute Final Closing Figures
91. Request Closing Document Copies
92. Confirm Receipt of Title Insurance Commitment
93. Make Homeowners Warranty Available
94. Review Closing Documents
95. Confirm and Assist with Final Deposit
96. Coordinate with Next Purchase
97. Ensure "No Surprises" Closing
98. Final MLS Update
99. Follow Up and Resolve Repairs
100. Documentation Follow Up
101. Hand the keys to the new owner
http://realestate.yahoo.com/Realtors/101_Reasons_to_Consider_an_Agent.html;_ylt=AqGUXiPOPEEx9Qz5KgOE_0ptJJB4

PROPERTIES IN THE PHILIPPINES

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