Essential Requirements for Buying a Condo or House & Lot

Purchasing property—whether a condominium or a house-and-lot—is a major commitment. To ensure a smooth transaction and avoid surprises, being ready with all required documents is crucial. Below is a comprehensive guide to what you'll typically need, depending on your financing scheme and employment status, plus tips on handling the reservation process correctly.

Why Valid, Complete Documents Matter

Submitting falsified or incomplete documents can lead to delays, disqualification, or even legal problems.

  • When you make a reservation, you'll need to present the original documents to authorized personnel for verification.
  • These documents are scanned and then returned immediately to protect your rights.
  • Developers, banks, and financing institutions have strict policies in place for verifying documents to ensure everything is aboveboard.

Requirements by Financing Scheme

The documents you'll need can vary depending on whether you're using Pag-IBIG, bank, or in-house financing.

Financing Scheme Typical Document Requirements
Pag-IBIG Financing
  1. Housing loan application form
  2. Four (4) pieces of 1×1 photo (white background)
  3. New Pag-IBIG loyalty card
  4. Latest 24 months of contributions (ESAV Form)
  5. PSA Birth Certificate or Marriage Certificate (if married)
  6. CENOMAR (if single)
  7. Verified TIN number
  8. Three valid IDs (with specimen signatures)
  9. Certificate of Employment with compensation (specifying "for PAG-IBIG Housing Loan Application")
  10. Latest 3 months' payslips (certified true copy)
Bank Financing

All items above (similar to Pag-IBIG) plus:

  • Latest 3 months bank statements
  • For business owners: latest Income Tax Return (ITR)
  • Proof of billing or utility bill
In-House Financing

Similar to bank financing, but developer-managed:

  • Same documents: application form, IDs, birth/marriage certificates, employment certificate, payslips, etc.
  • Bank statements & ITR for business owners
  • Proof of billing
  • Plus, post-dated checks for monthly payments

Special Cases: OFWs, Seafarers, Freelancers

These employment types have additional or modified requirements because of their non-traditional work arrangements.

OFWs / Seafarers:

  • Employment contract, authenticated by the Philippine Consulate or POEA
  • Proof of remittances OR bank statements for 3-6 months
  • Special Power of Attorney (SPA), authenticated by the Philippine Embassy
  • Passport and/or Seaman's Book (for seafarers)

Freelancers / Virtual Assistants:

  • Certificate of engagement or contract with clients
  • Invoices or receipts from client payments
  • Bank statements showing those payments for 3-6 months
  • Latest Income Tax Return (ITR)
  • Verified TIN number

The Reservation Process & Verification

When you've chosen a property:

  1. Present Original Documents to authorized personnel during reservation.
  2. Document Scanning: originals are scanned for records.
  3. Return of Originals: after verification/scanning, originals are returned immediately.
  4. Compliance Check: ensure all documents are complete, legitimate, and in good order before moving forward.

Tips for a Smooth Property Purchase

  • Start gathering documents ahead of time—some (like bank statements or certified copies) may take days or weeks.
  • Double-check all documents for signatures, correct name spellings, matching dates, and validity.
  • Always use trusted professionals (agent, developer, notary) to avoid fraud.
  • If you're an OFW, freelancer, or working overseas/seafaring, anticipate longer processing or extra notarization/authentication steps.