27/01/2026
๐๐จ๐ฉ ๐ ๐๐ข๐ฌ๐ญ๐๐ค๐๐ฌ ๐๐ง๐ฏ๐๐ฌ๐ญ๐จ๐ซ๐ฌ ๐๐ง๐ ๐๐
๐๐ฌ ๐๐๐ค๐ ๐๐ก๐๐ง ๐๐ง๐ฏ๐๐ฌ๐ญ๐ข๐ง๐ ๐ข๐ง ๐๐จ๐ง๐๐จ๐ฆ๐ข๐ง๐ข๐ฎ๐ฆ๐ฌ
Buying a condo while working abroad is possibleโbut many OFWs encounter problems due to avoidable mistakes. Here are the most common ones, based on Philippine real estate laws and standard practice:
1๏ธโฃ Buying Through an Unlicensed Agent
Under RA 9646 (Real Estate Service Act), only PRC-licensed brokers and salespersons are allowed to sell real property. Unlicensed agents are not legally accountable, putting buyers at risk if issues arise.
2๏ธโฃ Not Verifying the License to Sell
Under PD 957, developers must secure a License to Sell (LTS) from DHSUD before offering units. Buying without verifying the LTS may lead to delays, cancellation, or difficulty recovering payments.
3๏ธโฃ Not Reading the Contract Carefully
Many OFWs rely on verbal explanations. Important items often overlooked include turnover dates, penalties, refund conditions, and payment terms. Contracts must be reviewed before signing or paying.
4๏ธโฃ Underestimating Total Ownership Costs
Monthly amortization is not the only expense. Association dues, real property tax, move-in fees, and utility deposits are standard condominium costs that affect long-term affordability.
5๏ธโฃ Buying Without a Clear Plan
Whether for end-use, rental, or resale, buyers should define their purpose. Location, demand, and realistic rental or resale value should be assessedโnot just marketing claims.
Key Reminder:
Always work with a PRC-licensed realtor, verify documents, and ensure the transaction follows the law.
