Professional Documents
Culture Documents
7-Step Home
Buying Process
Christopher Balbuena
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7-Steps Home Buying Process Christopher Balbuena
7-Steps Home
Buying Process
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7-Steps Home Buying Process Christopher Balbuena
Introduction
Buying a Home dont seem easy because of the hassle
you have to go through here unlike when you buy food,
shoes, jewelry, books or supplies, you just go the restaurant or
shop, pay what you like and get your item.
This dont mean that you follow it to the letter but this is
the usual step by step people have to go through. The
process goes something like in the diagram above and listed
below:
Step 2. Consultation
Step 4. Reservation
Step 5. Documentation
Step 6. Inspection
Step 7. Move-in
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7-Steps Home Buying Process Christopher Balbuena
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7-Steps Home Buying Process Christopher Balbuena
This property can be either a lot, house and lot or
condominium unit. You may already know this upon deciding
on your purpose of buying a property.
Last but not the least, list other considerations you want
for your property. Remember that other considerations are
listed as WANTS.
LOCATION: __________________________________________
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7-Steps Home Buying Process Christopher Balbuena
PRC: http://www.prc.gov.ph/services/?id=16
HLURB: http://hlurb.gov.ph/services/brokers/list-of-brokers/
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7-Steps Home Buying Process Christopher Balbuena
CONDOMINIUM DUES are fees you pay on a monthly basis. It is
based on a per sqm basis. For example, Ortigas condominiums
have dues of P60 P90 per sqm per month dues. The dues are
used for security, building maintenance, amenities
maintenance, admin fees for Homeowners Association
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7-Steps Home Buying Process Christopher Balbuena
Figure 2 Consultation
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7-Steps Home Buying Process Christopher Balbuena
6. What cabinets and furniture are included?
7. What is the floor-to-ceiling height? for consideration
of interior design, bed and other furniture
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7-Steps Home Buying Process Christopher Balbuena
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Figure 7 Move-In
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7-Steps Home Buying Process Christopher Balbuena
Conclusion
Home buying should not be that very complicated as
the buyer. You just have to follow the home buying process as
described.
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7-Steps Home Buying Process Christopher Balbuena
In the next chapter, check the requirements you need
to prepare so that you are well prepared when the time you
buy your property.
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7-Steps Home Buying Process Christopher Balbuena
REQUIREMENTS
FOR SUBMISSION
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7-Steps Home Buying Process Christopher Balbuena
Introduction
Buying a Home is also not just about paying the
amount you are supposed to pay, but it also includes the
documents that you have because these documents will be
used to transfer the title to your name. So be patient to
complete them.
Dont worry, we have listed below the common
requirements, a sample, whats the importance and how to acquire
them.
1. 2 valid ID
5. Proof of Billing
9. Bank Statement
Below are other documents that you should sign but will be
given to you by the Developer once unit has been reserved.
2. Loan Documents
3. Insurance Documents
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7-Steps Home Buying Process Christopher Balbuena
Common
Requirements
This is the list of common requirements, its importance
and how to acquire it:
1. 2 valid ID
The identity of the principal where the title will be
named is important thats why identification cards are
included in this list.
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7-Steps Home Buying Process Christopher Balbuena
4. Certificate of No Record of Marriage (CENOMAR)
This can be acquired from NSO also stating that a
person has not contracted any marriage.
5. Proof of Billing
This may include electricity bill, water bill, telephone
bill, cable bill or postpaid bill. Credit Card bill may be used but
as a supplementary only to some Developers.
6. Pay Slip
This can be acquired from the employer you are
working for on a regular monthly or bi-monthly basis. This is
where your monthly income, deductions and taxes are
reflected.
9. Bank Statement
This is the Statement of Account of your savings or
checking account. This is required particularly in self-
employed or business-owned company as you may not have
a pay slip or COEC.
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PDC can also be acquired by requesting a referral
letter from the Developer in case you dont have a savings
account (six months) with a minimum balance.
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OTHER
REQUIREMENTS
This is the list of other requirements, usually coming from
the Developer or Financing Institution for the principals
signature, its importance.
4. Loan Documents
This is a document that records the loan agreement
between you (the borrower) and lender (either Bank or
PagIBIG Fund).
(Source: http://www.businessdictionary.com)
5. Insurance Documents
These are the documents issued by the insurer to
arrange the compensation in the event of damage or loss of
property, or injury to or the death of someone, in exchange
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for regular advance payments to a company or government
agency.
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7-Step Home Buying Process
Conclusion
To complete the process of buying a house, your
requirements are essential.
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7-Step Home Buying Process
CHECKLISTS
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7-Step Home Buying Process
Home Inspection
Checklist
Use a checklist like this to make sure that you are
looking at all parts of the condominium. Put YES to those
items that are in good condition and make notes about those
that are not. (Not that this list describes an ideal
condominium, but in our experience no condominium if
perfect not even brand new ones!)
LIVING AREA
1 Are cracks/chips found in the floor?
2 Are cracks found in the walls/ceiling?
3 Do you see lumps / discoloration in
the wall & ceiling paintings?
4 Properly working Elec trical Outlets?
5 Properly working Light Fixtures &
Switches?
6 Can you open, close and lock
windows properly?
7 Can you open, close and lock doors
properly?
BEDROOM
1 Are cracks/chips found in the floor?
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7-Step Home Buying Process
2 Are cracks found in the walls/ceiling?
3 Properly working Elec trical Outlets?
4 Properly working Light Fixtures and
Switches?
5 Can you open, close and lock
windows properly?
6 Can you open, close and lock doors
properly?
KITCHEN AREA
1 Ali gned & leveled cabi nets?
2 Can you open and close cabinet
doors easily?
3 Can you open, close and lock doors
properly?
4 Properly installed Sink?
5 Are holes/dents under the sink not
found?
6 Properly working Faucet Handles?
7 Water flowing from the faucets?
8 Are cracks/chips found in the tiles or
floor?
9 Do you see lumps / discoloration in
the wall & ceiling paintings?
DINING AREA
1 Properly working Elec trical Outlets?
2 Are cracks/chips found in the tiles or
floor?
3 Do you see lumps / discoloration in
the wall & ceiling paintings?
4 Properly working Light Fixtures and
Switches?
5 Can you open, close and lock
windows properly?
6 Can you open, close and lock doors
properly?
BATHROOM
1 Are crack/chips found in the
tiles/floor?
2 Even and clean floor?
3 Are cracks found on walls and
ceilings?
4 Do you see lumps / discoloration in
the wall & ceiling paintings?
5 Properly working Elec trical Outlets?
6 Properly working Light Fixtures &
Switches?
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7-Step Home Buying Process
7 Can you open, close and lock
windows properly?
8 Can you open, close and lock doors
properly?
9 Are cracks not found in the mirror? I s
it level?
10 Straight and c orrectly placed Towel
Bars?
11 Toilet Paper Holder level?
12 Ali gned and level cabinets?
13 Properly working Shower? Water
coming out from the Shower?
14 Properly working Water Heater?
15 Can you open and close Shower door
properly?
16 Exhaust fan properly working?
17 Can you open and close cabinet
doors easily?
18 Can you open, close and lock
windows properly?
19 Are cracks/chips found on the
Kitchen countertop?
20 Properly installed Sink?
21 Holes/dents not found under the sink?
22 Properly working Toilet Flush?
23 Water flowing from the faucets?
24 Faucet handles in good condition?
25 Bathtub in good condition?
Cracks/chips not found?
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7-Step Home Buying Process
REQUIREMENTs
Locally Employed
2 pcs 1x1 Id pictures
Birth Certificate/Marriage Contract
2 Government ID (for Principal & Spouse)
Latest Certificate of Employment with Compensation
Latest 2 months payslip
Latest 2 yrs. Income Tax Return (ITR)
Certificate of No Marriage (CENOMAR)
OFW
2 pcs 1x1 Id pictures
Birth Certificate/Marriage Contract
2 Government ID (for Principal & Spouse)
Latest Certificate of Employment with Compensation
Latest 2 months pay slip
Latest 2 yrs. Income Tax Return (ITR)
Certificate of No Marriage (CENOMAR)
Oath of Allegiance-Dual Citizenship (if without latest Phil. Passport)
2 sets of original Consularized SPA form
Latest Passport with arrival and departure stamp
Self-Employed/Business Owner
2 pcs 1x1 Id pictures
Birth Certificate/Marriage Contract
2 Government ID (for Principal & Spouse)
Latest Certificate of Employment with Compensation
Latest 2 yrs. Income Tax Return (ITR)
Latest 2 yrs. Audited Financial Statement (AFS)
Latest 6 months Bank Statement
Latest Business/Mayors Permit
Latest DTI or SEC Registration
Secretary Certificate (if any)
BIR Tax Receipt
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7-Step Home Buying Process
NOW YOURE READY TO BUY YOUR FIRST HOME!
Weve covered the seven essential steps on the road to
buying your first home.
Step 1
List Needs
Step 2
Consultation
Step 3
Site Tripping
Step 4
Unit Reservation
Step 5
Submit Documents
Step 6
Unit Inspection
Step 7
Move-In
Now that youve read this guide youre armed with all the
essential information so that you can buy your first home hassle-free.
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7-Step Home Buying Process
About the Author
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