Step 1: Property Search & Selection
Finding the right property is the first crucial step:
Online Search: - Browse listings on Housal - Use AI search for natural language queries - Save properties and compare
Site Visits: - Schedule viewings for shortlisted properties - Inspect condition, neighborhood, accessibility - Visit at different times of day
Step 2: Due Diligence
Before making any payment, verify everything:
Title Verification: - Get a Certified True Copy from Registry of Deeds - Check for liens, mortgages, adverse claims - Verify owner's identity matches title
Property Inspection: - Hire a professional inspector if needed - Check structural integrity - Test utilities (water, electricity, internet)
Step 3: Reservation & Offer
Making Your Offer: 1. Submit a Letter of Intent (LOI) 2. Pay reservation fee upon acceptance 3. Negotiate terms and price 4. Sign Reservation Agreement
What's in the Reservation Agreement: - Total contract price - Payment terms and schedule - Penalty clauses - Conditions and contingencies
Step 4: Contract Signing & Payment
Contract to Sell (CTS): - Detailed payment schedule - Developer/seller obligations - Buyer obligations - Turn-over conditions
Deed of Absolute Sale (DOAS): - Final sale document - Executed upon full payment - Notarized for authenticity - Basis for title transfer
Step 5: Title Transfer
After Full Payment: 1. Seller executes DOAS 2. Pay taxes (CGT, DST, Transfer Tax) 3. Get CAR from BIR 4. Present to Registry of Deeds 5. New title issued in your name
Timeline: 2-4 months typically
Pro Tips
- Never pay the full amount without proper documentation
- Keep copies of all signed documents
- Work with a trusted lawyer for high-value transactions