FAQ
How much is the usual down payment when buying a condo in the Philippines?
Most developers require a 10% to 20% down payment, payable over several months before turnover. For resale properties, the terms depend on the seller or your bank’s requirements.
Is Renting or Buying Better?
It depends on your goals. Buying is ideal if you plan to stay long-term or want to build equity. Renting offers flexibility if you expect career or life changes within the next few years.
What taxes or fees should I expect when buying a property?
Buyers should budget around 3–4% of the purchase price for closing costs, which typically include documentary stamp tax, transfer tax, registration, and notarial fees.
How do I know if a property is a good investment?
Location, developer reputation, accessibility, and rental demand are top factors. For condos, consider resale potential and amenities; for houses, lot size and nearby developments are important indicators.
How can I increase my property’s resale value?
Keep the property well-maintained and bright. Neutral interiors, upgraded lighting, and functional layouts help listings photograph better and sell faster. There are a few key things every seller should do before listing and they can make all the difference.
What is a Comparative Market Analysis (CMA)?
A Comparative Market Analysis, or CMA, looks at similar properties in the same market to help establish whether an asking price is reasonable. Depending on the property, this may take into account recent transactions, current competing listings, location, size, condition and other factors that affect value.
Can foreigners buy property in the Philippines?
Foreigners can own condominium units but not land. There are legal structures that allow foreigners to own a house or other improvement, while another option is to lease land long-term.
Do I need to pay a broker’s fee when buying OR RENTING?
No. In most cases, the developer, seller, or landlord pays the broker’s commission, not the buyer or tenant.
What documents should I check before buying a property?
Verify the certified true copy of Title (TCT/ CCT), the latest Tax Declaration, and check for any liens, encumbrances or other annotations. It’s highly recommended that buyers conduct due diligence themselves with the guidance of a licensed real estate broker or lawyer.
Are property prices negotiable??
Resale properties may have more room for negotiation than developer inventory, but the amount a seller is willing to move can depend on how the asking price compares with similar properties, how long the property has been on the market, and the seller’s circumstances. A well-supported offer usually has more weight than simply asking for a discount.
What happens after I buy a property?
There may still be practical matters to take care of, including title transfer, tax and utility records, association or condominium documentation. The exact steps depend on the property and transaction. For buyers who don’t live nearby, arranging reliable property management and upkeep can also be an important consideration.
can I work with RARE?
If you’d like to sell your property, we specialize in well-appointed houses, premium lots and condos in prime Metro Manila and South locations. For help buying a property, feel free to reach out anytime.