Buying a Philippine condominium can be as easy as making a simple reservation and putting down a small deposit as a reservation fee.
Upon putting down a reservation fee (which will be deducted from the contract price), the buyer will be given a Request for Reservation and Offer to Purchase Form, Specimen Signature Form, Buyer’s Information Sheet and Proposed Schedule of Payment.
Buyer shall provide copy of any goverment issued ID like Driver's License, Passport etc.
Within 24 months, the Developer will then provide a temporary title called a Contract To Buy and Sell. Upon Turn Over, the Owner will receive the Condominium Certificate of Title (CCT).
Typically, the Developer will also offer various financing and payment plans.
Megaworld Corporation offers the lightest and most flexible payment options in the Philippines with corresponding discounts (the most competitive in the Philippines) depending on the payment terms.
Down payments can range from 0% to all cash, while mortgage loans of 15% to 80% of the purchase price are available from banks.