Standard Document Requirements Needed To Buy A Real Estate Property

by Cecile Cinco

I’ve been asked what documents buyers have to prepare to buy a real estate property. This is very important and knowing beforehand, it will save us time to prepare them now, especially for those Filipinos working overseas. These are documents that will be supplied by you, the buyer.

Initial documents upon reservation:

• Proof of Billing (based in the Philippines, best is Meralco bill, especially for PA Alvarez projects like the St. Joseph series, Laguna Buenavista, and East Residences condo, they only accept Meralco bill as proof of billing, regardless if it’s under your name or not)
• Latest One Month Payslip (for proof of income; from first to last day of whole month)
• Valid ID

More documents to follow within 2 weeks: (if you have them during reservation, well and good!)

• Residence Certificate (this can be easily obtained from your town or barangay)
• Special Power of Attorney (in case somebody will transact in your behalf)
• Birth Certificate (for proving you are Filipino, either you are born in the Philippines or, if not, one of your parents is Filipino; in case you are not Filipino CITIZEN, you can go to the Philippine Embassy to pledge allegiance and you will have dual citizenship within 30 minutes). (Limit of dual citizens: up to 1000 sqm residential property or 2 hectares farmlot.)
• Marriage Contract (in case you’re married; even if you are married to a foreigner; especially useful if the foreign spouse is the one working/paying/giving proof of income)
• ID picture (3 pcs 1×1-inch)
• Certificate of Employment and Compensation (for local and local-SPA)
• Job Contract (OFWs)
• Passport (OFW)
• Bank Statement (if unemployed but with income; supported by ITR)
• ITR  (latest)
• Business Permit (if income comes from business; supported by ITR and Mayor’s Permit)
• Certificate of Loan Eligibility (PAGIBIG)
• PAGIBIG Blue Book
• PAGIBIG Member’s ID
• PAGIBIG Counseling
• Post Dated Checks (unless paying in spot cash). (For those without checking account, our office can give a recommendation to a nearby bank that can release its first checkbook within the same day and you only need less than 5k pesos to apply.)
• Sketch of your address (same address as your Meralco Bill) (not actually a document but VERY IMPORTANT.

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