Are minors allowed to purchase a property? What are the requirements?
Yes, but the minor must be represented by his/her parents or his/her legal guardian, if his/her parents are already deceased. For purposes of registration of the property purchased by the minor/s as represented by his/her parents, an original and duly notarized (or consularized, if executed outside the Philippines) Affidavit of Parents (minor buyer) must be submitted.
Account Adjustments or Changes after Purchase
*Note: Complete and updated information is essential for mailing of documents and/or correspondences related to your purchased unit, in bank documentation, and in the title transfer process. Should there be any information you wish to amend or change, please fill out the Buyer’s Information Sheet and send it back to us together with your request letter and other required documents.
Why is my spouse required to sign all the documents?
Under the Family Code, it is presumed that the property purchased by a married individual shall form part of the absolute community (or conjugal partnership if the spouses were married before August 3, 1987), unless the spouses have agreed to a separation of property before their marriage or if one of the spouses executes a sworn statement (Affidavit of Paraphernal/ Separate Property) stating that the funds used to purchase the property do not form part of their absolute community of property or conjugal partnership but were taken from the personal/paraphernal/separate funds of his/her spouse. Note that the Affidavit of Paraphernal/Separate Property must be duly notarized or consularized (if executed outside the Philippines).
Buyer’s Guide
Thank you for your interest to our listing. We will guide you step-by-step on your purchase.
Step 1 – Choose your unit and payment term
Choose unit/s you wish to purchase. This is after you have browsed some information from this website and have communicated with us concerning a specific project.
We will prepare computation based on your desired unit. You may also request for special payment term.
Step 2 – Sign the reservation forms
Once we verified the availability of your desired unit and you have decided on the payment term, you may now accomplish the reservation forms.
Step 3 – Pay reservation fee
Mode of payment: Cash or Check
Step 4 – Submission of requirements
To complete your reservation, the following documents must be submitted within thirty (30) days.
– Duly filled-out and signed Reservation Forms
– Proof of paid reservation fee
– Scanned copy or photocopy of passport or any valid government issued IDs with legible signature
– TIN and/or duly filled-out and signed BIR Form 1904
– Two (2) original copies of Notarized or Consularized Special Power of Attorney (SPA)
– Proof of Income
Step 5 – Downpayment and Monthly Amortization
After paying the reservation fee and submission of complete requirements, Our office shall be sending through email your Schedule of Payment (SOP) with due dates and amounts. Prepare to pay your monthly amortizations according to the date and amount of your SOP through post dated checks. After checks have been prepared, submit them to our office. Please request for a pick-up arrangement from us.
Step 6 – Financing
Turnover balance is payable through lump sum or external financing-commercial bank. We will personally assist you in securing home loan approval.
Step 7 – Unit Turover
When the full payment has been cleared or bank loan has been released, you will be issued a Notice of Acceptance through email and mail. You will then be endorsed to Buyers Turnover Personnel so you can inspect your unit.
Can I authorize a representative to sign the Contract to Sell (CTS) on my behalf? What are the requirements?
Yes. Should the buyer wish to authorize a representative to sign the Contract to Sell on his/her behalf, the authorized representative should present and submit an original copy of a duly notarized (or consularized, if executed outside the Philippines) Special Power of Attorney (SPA), together with the buyer/s’ valid government-issued ID as well as his/her own for validation.
What is an LOG (Letter of Guarantee)?
A Letter of Guarantee (LOG) is a written guarantee from the bank that the buyer/s has complied with the bank requirements for the release of loan to cover payment for any portion of the purchase price.
Why do I have to sign the original Contract to Sell (CTS) issued to me even if I want changes from my original purchase?
For proper documentation, the initial document should be processed and completed prior to processing of any amendment.
Why should I use a real estate salesperson?
A real estate salesperson is more than just a “sales person.” They act on your behalf as your agent, providing you with advice and guidance and doing a job – helping you buy or sell a home. While it is true they get paid for what they do, so do other professions that provide advice, guidance, and have a service to sell –such as Certified Public Accountants and Attorneys
The Internet has opened up a world of information that wasn’t previously available to homebuyers and seller. The data on listings available for sale is almost current – but not quite. There are times when you need the most current information about what has sold or is for sale, and the only way to get that is with an agent.
If you’re selling a home, you gain access to the most buyers by being listed in the Multiple Listing Service. Only a licensed real estate agent who is a member of your local MLS can get you listed there – which then gets you automatically listed on some of the major real estate web sites. If you’re buying or selling a home, the MLS is your agent’s best tool.
However, the role of an agent has changed in the last couple of years. In the past, agents were the only way home buyers and sellers could access information. Now agents are evolving. Because today’s home buyers and sellers are so much better informed than in the past, expertise and ability are becoming more important.
The real estate agent is becoming more of a “guide” than a “salesperson” — your personal representative in buying or selling a home.
What is a Contract to Sell?
A Contract to Sell (CTS) is a contract governing a purchase of a specific Unit/House and lot whereby the terms and conditions of the sale, such as but not limited to the payment terms and transfer of ownership, are stated.
What is a Reservation Agreement?
A Reservation Application/ Agreement (RA) is a document executed by the buyer, declaring his intent to purchase a specific Unit/House and Lot, together with his payment of the Reservation Fee, and subject to the approval by Alveo Land Corp.
If my husband/wife is a foreigner, are we allowed to purchase a property? What are the requirements?
If one of the spouses is a foreign national, the following rules shall apply:
Purchase of Condominium Unit:
Both spouses can acquire condominium units.
Purchase of House and Lot/Townhouse Unit:
Only the Filipino spouse can acquire the house and lot or townhouse unit, but the Filipino spouse must indicate in all the documents related to this transaction the name of the foreign spouse.
