Buying a home in the Philippines

1. Set your budget

Work out how much cash you have for the down payment, reservation fee and closing costs. Closing costs are often several percent of the price. They cover taxes, transfer fees and registration.

If you need a loan, ask a lender how much you could borrow before you start viewing properties.

2. Shortlist and inspect

Use ravelo to compare listings by location, price and size. Visit in person, check the water pressure, signs of flooding and the drive to work or school, and ask the seller for copies of the title and tax declaration.

3. Check the documents

Confirm the title is genuine and free of liens at the Registry of Deeds. Check that real property taxes are paid, and that the seller has the right to sell. Ask a lawyer or licensed broker if anything is unclear.

4. Reserve, pay and transfer

Sign a reservation agreement and then a Contract to Sell or Deed of Absolute Sale. After payment, taxes are settled with the BIR, and the title is transferred to your name at the Registry of Deeds.