Rules for Buying Condo Units in the Philippines

Rules for Buying Condo Units in the Philippines

These are just some of the rules when buying condo units in the Philippines. Please add more in the comments to this post.  The recent land title scheme not being turned over to the condominium corporation with a lien placed on a property causing the building to be worthless in Makati from what I was told is just another lesson learned.

*  Buy and read Armando Ang's book, "Guide to Homeownership."  It was revised in 2009 but is still valuable giving important information and critical opinion.

**  Do not buy if immediate streets around the building flood.

***  Do not buy prebuilt.

****  See seven to nine units in different buildings before deciding.

*****  Get a copy of the By-Laws.

******  Get a copy of the Master Deed.

*******  Who is on the condominium corporation board and who controls the board?  Have there been elections and read Valle Verde vs Africa (Philippines Supreme Court), a decision made after Ang's book was revised?  How did board members obtain each seat?

********  Get copies of the architectural/engineering plans at the city engineer's office of your unit and the floor the unit is on.

*********  Check for columns in the unit and shared balconies.

**********  Measure the unit for square meters.

***********  Get a certified true copy of the land title and check for liens on the property from Registry of Deeds.

************  Have all ads signed by the broker and company officials printing the name and title under the signatures.

************* Verify earthquake fault lines in the area of the building and their distance.  Get a statement from the seller as to the structural integrity of the building.  See the following for additional information notably for Metro Manila - http://sohocentralcondominium.blogspot.com/2015/05/new-rule-for-buying-earthquake-fault.html 

**************  Here is a story to make everyone think very carefully about all the potential problems.  A good friend was told about his friends' purchase in a well-known area that many see as an oasis in Makati.  When they walked into the duplex (2-floor) unit for inspection it was lacking one critical element.  They were told the critical element was optional.  This story was told to others who buy and care for condo units around Metro Manila and they did not believe the story.  I asked him again and he explained in detail what his friends experienced and the gathering they were at with others who almost coughed up their food during dinner being told the story while laughing.

The optional critical element in the highly regarded oasis development with an upscale mall were the stairs.  Yes, you just cannot make this stuff up.  They had to hire someone to put the stairs in afterward.