Choosing a Condo Home:

A Quick Guide for Prospective Buyers

Choosing a home is a big step! Westwind has come up with a guide to help you get ready for condo home ownership.

Determine How Much Is The House You Can Afford

Make sure your monthly dues are not more than 30% of your gross household income per month so your basic needs are covered. You may use your savings to bring down your monthly loan amortization. To ensure continued payments in case of emergencies, save at least three months of your salary.
Westwind at lancaster city - aerial shot

Consider Your Family’s Needs Alongside Your Budget

Minimum Number of Bedrooms and Must-Have House Features

These will depend on the age, gender, and the family members moving in to the new home.

Move-in Period
Find out if unit or turnover period matches your goals.
Location and Transportation Options
The location of your new home should be clean, green, and flood-free. Check if it’s easy to drive or commute from your future home to current and potential workplaces, schools, hospitals, churches, sports and recreational activities. Evaluate if the transportation options can support your lifestyle. A walkable community will surely support your active, healthy lifestyle.

Amenities

Identify what your family can use: basketball court, swimming pool, clubhouse, parking, lifestyle open spaces and other amenities.

Security

Staying safe is important. Make sure that the residential community has security features like 24-hour CCTV, roving guards, and gates.

Community

Check if there are activities that will improve the quality of life of each family member.

Property Management

Figure out if there are staff in charge of collecting the garbage, maintaining the surroundings, and keeping the community clean, safe, and orderly.

Retail and Services

Find out if your neighborhood has malls or a place that can serve as a venue for sports and other recreational activities.

Make Sure You Have The Money To Buy A House

If you are not paying for the property in cash, below are a few of the options you can consider in buying a house:

Apply for bank financing

Apply for in-house financing

Apply for PAG-IBIG financing

         Note that this is only applicable to PAG-IBIG accredited projects.

Secure a co-borrower

Only relatives up to 2nd degree of consanguinity or affinity are allowed (those within the green section of the image linked.).

Note: Contribute more to your down payment to decrease both the principal
and the monthly amortization. If applicable, set aside the required amount for
the downpayment.

Below is the summary of your journey to buy a new home:

Prepare the Basic Documents Required

We have listed down the Required Documents for you to prepare for each step.

Step 1: Reserve

valid-id

2 VALID GOV’T-ISSUED IDS
OF BUYER AND SPOUSE

Primary:
Passport, Driver’s License, SSS, UMID, PRC ID

Secondary:
PhilHealth ID, TIN Card, Postal ID, Voter’s ID,
Company ID, Pag-ibig Loyalty Card

income-docs

INCOME DOCUMENTS

If Locally Employed:
Proof of income (COE with compensation,
ITR, and 3-months payslip)

If Self-Employed:
Financial statement for the last 3 years and ITR

buyer-info-sheet

BUYER’S
INFORMATION SHEET

buyer-disc-statement

BUYER’S DISCLOSURE
STATEMENT

reserve-fee

RESERVATION FEE

reserve-agreement

RESERVATION
AGREEMENT

Step 2: Post-Booking

(For submission within 120 days from reservation payment)

income-docs

LATEST PROOF OF BILLING

Electricity, water, telephone, cable bills.

If no proof of billing under buyer’s name,
secure certification from the lessor and copy
of lessor’s valid ID or secure Barangay
Certificate.

valid-id

UPDATED 2 VALID GOV’T ISSUED IDS OF BUYER AND
SPOUSE (IF MARRIED)

UPDATED 2 VALID GOV’T
ISSUED IDS OF BUYER AND SPOUSE (IF MARRIED)
reserve-fee

ADA APPLICATION AND/OR
ISSUANCE OF POST-DATED
CHEQUES

reserve-agreement

CONTRACT TO SELL

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HOME IMPROVEMENT
CONTRACT

Step 3: Loan Processing

Compliance of document is N*-11 (except for Counseling). N* = 11 months before last downpayment.
income-docs

INCOME DOCUMENTS

If Locally Employed:
Proof of income (COE with compensation,
ITR, and 3-months payslip)

If Self-Employed:
Financial statement for the last 3 years and ITR

icon-ring

DOCUMENTS BASED
ON CIVIL STATUS

Married:
Marriage Contract
Single With Dependents:
Certificate Of No Marriage

Separated:
Legal Separation | Annulment Papers W/
Certificate Of Finality Of Decision

Widowed:
Death Certificate Of Spouse

icon-sign

SIGNED FORMS

Counseling Confirmation Form (CCF)
for submission within 30 days from
Reservation Fee Payment

Authorization To Conduct Credit/
Background Investigation With Sketch

Insurance Application Forms (Axa, Bdo Life,
Ben Life, Cocolife, Pnb Allianz)

reserve-agreement

SIGNED DEED OF ABSOLUTE SALE (DOAS)

reserve-agreement

SIGNED DEED OF RECONVEYANCE (DOR)

valid-id

TIN ID OF BUYER AND SPOUSE

icon-scan

3 PCS 1X1 PHOTO OF BUYER AND SPOUSE

icon-sign2

SIGNED PCFI SIGNATURE CARD (2 COPIES)

reserve-agreement

ANY OTHER ADDITIONAL (UPDATED)
DOCUMENTS WHICH MAY BE
REQUIRED BY PROFRIENDS OR
ACCREDITED BANK

ANY OTHER ADDITIONAL
(UPDATED) DOCUMENTS WHICH MAY BE REQUIRED BY PROFRIENDS OR ACCREDITED BANK

Step 4: Loan Approval and Release

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SIGNING OF LETTER OF GUARANTEE

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LOAN TAKE-OUT

Step 5: Turnover & Move-In

Group 1224

INSPECTION AND PUNCHLIST

Group 1226

ACCEPTANCE OF UNIT AND RELEASE OF UNIT KEYS

Group 1228

ENDORSEMENT OF ACCOUNT
TO PMO FOR HOA DUES

Step 6: Title Transfer

reserve-agreement

PROCESSING OF TITLE
UNDER BUYER’S NAME

income-docs

PROCESSING OF TAX DECLARATION

Below is the summary of required documents if you want to avail bank loan or financing: