Planning to acquire a property but not in a hurry to move in? That’s good thinking and your best option is the Pre-Selling properties! In real estate, a pre-selling means a property is sold before it’s completion, during its construction, or while still in the planning stages. Know these two advantages of buying a pre-selling property that will benefit you at the end.
Pre-Selling House and lot or condominium are cheaper
Since it is the planning or construction stage, the developer offers a 30-50 percent off for all the buyers. One of the reasons for these is the additional fund that they need to be added for the construction, and to be able to do this is to attract buyers to buy now while the building is still under construction. It is like you became an investor and a buyer at the same time. It is a win-win situation for the developers and the buyers as there is a lot of offers for this.
You have the wide option for your preferred unit location
You can choose the best part location for your house and lot, whether you want it facing the sun, near the gate for the subdivision or corner lot which is most buyers is looking for. Same as in the condominium, you preferred what floors and views facing your unit.
We at Philrep Realty Corp. has a wide connection for the different developers. Let us help you by finding the right home you are looking for.
Every Filipino has a dream of owning a house of there dream and as part of the benefits of becoming a Pag-IBIG member is the privilege of home financing. We here at Philrep Realty Corp. is committed to guiding you from start to finish in buying your dream home. We want to help you understand the process of dealing with the application smooth and less hassle. See this summary guide on where and how you can start applying for your Pag-IBIG home loan.
- Before we start, let’s check out first the requirements.
- Have made at least 24 monthly savings. The lump-sum payment of the required 24 monthly savings is allowed.
- Not more than 65 yrs. old, and not more than 70 yrs. old at maturity of the date of the loan application.
- Have the legal capacity to acquire and encumber real property.
- Have passed satisfactory background/credit and employment/business checks of Pag-IBIG Fund.
- Have no outstanding Pag-IBIG Fund Short-Term Laon (STL) in arrears at the time of loan application.
- Have no Pag-IBIG Fund housing loan that was foreclosed, canceled, bought back due to default, or subjected to dacion en pago.
(Dacion en pago is a Spanish term that means the giving back of the property mortgaged to the lender in exchange for the discharge of a mortgage debt.)
- Click Here for Requirement Checklist or Pag-IBIG Checklist Note: Better to complete first all the requirements before submitting.
- Schedule an appointment through Online Housing Loan Application (OHLA) Click Here
Note: A special lane in Pag-IBIG Fund branch offices is available for those who made an online schedule. They will be given priority over walk-in applications. But you can still apply over the counter if you like, you can file your housing loan application personally at Servicing Department, 2/F JELP Business Solutions, 409 Shaw Blvd. Mandaluyong City, or at any Pag-IBIG Fund brand office.
- After submitting all the documents required. Wait for your approval – Pag-IBIG will notify you within 17 days
- If approved, you will receive the Notice of Approval (NOA) and Letter of Guaranty (LOG)
- Sign your loan documents and complete other documents needed for check release
- Claim your check.
- Start paying your monthly amortization.
House and Lot or Condo? A confusing decision if you don’t know what are the pros and cons before buying the property.
I experienced this myself when the time I was looking to buy a property for the purpose of investment. This is a long-term payable (If you’re into financing) that you really need to think about before signing those contract to sell and paying your equity or down payment. We at Philrep Realty Corp. wants to make sure that you decided for the right investment!
I made a comparison in general and case to case basis that will fit for any situations that you had.
- house and lot have more freedom to modification while condo is limited because of building policy.
- house and lot are all yours to keep with a full land title that you can pass to your children while condo you only own part of space in the building.
- house and lot you had your own backyard, you can have some pet and hobby if you want while most of the condo does not allow a pet.
- condo is easy to maintain while house and lot need more time to clean.
Case to case reason for buying,
- if you are working in the city, a condo is more accessible than house and lot located in subdivision far from the access.
- if your lot is big, you can have your own garage inside your house and lot property while in a condo you need to rent or purchase your own parking space.
- if your condo is expensive, it is luxurious and the amenities are great and the cost of living is class.
- if you plan to bring it to business, a condo has a good opportunity for rent at a higher rate(base on my personal experienced) while house and lot has a lot of things to consider.
You know yourself and your situations, nobody can tell what is best for you, only yourself. Any consultant can only give advice for you to realize the pros and cons of both properties. Think of where you are now and the future plans.