First-time buyers

A developer’s seller is paid to sell that developer’s project. A broker can put two projects next to each other. TapatBahay is the second kind of desk. You still sign the contract with the developer named on the page.

The reservation holds a unit and is usually credited to the price. The down payment, often called equity, is the part you pay while the papers and the construction catch up. The balance is what a bank, Pag-IBIG, or an in-house plan is asked to cover at turnover.

On this site every sample spells those three numbers out. If a live project will not do the same, treat that as a reason to slow down.

A developer that sells subdivision lots or condominium units to the public needs a License to Sell from DHSUD. Ask for the number and match it to the project name before you pay. The numbers on these sample pages are not real licenses.

Pre-selling means you are buying before the building or the house is finished. Ready for occupancy means the unit is being offered as complete. A finished unit can still have a punch list. A pre-selling unit can still be the right buy if the license, the turnover window, and the equity fit.

A condominium ends in a Condominium Certificate of Title for the unit. A house and lot or a residential lot ends in a Transfer Certificate of Title for the land. You do not receive that on reservation day. Keep official receipts, and do not pay a reservation into a personal account.