The Ins and Outs of Property Reservations

You are eyeing this superbly-landscaped, conveniently-located property from your work and you really want to get your hands on it. However, your preferred Philippines properties are selling like hotcakes. What will you do next? Simple: reserve!

Think of property reservation as a deposit when you rent a house, apartment or condo only that the rented space will not be yours in the future. After paying the reservation fee, you will be entitled to own the property unless the reservation period is exhausted without paying fully or partially (downpayment).

Arlington

Making reservations is very easy. In fact, you can now reserve any of the new houses for sale Philippines online. You just need the following:

  • seller/property specialist,
  • reservation fee, and
  • Reservation Agreement Form.

With the help of the seller, you must determine the availability of your chosen property. After confirming its availability, you may continue to reserve online. Look for the ‘Reserve Now,’ ‘Reserve Online’ or ‘Reserve Here’ button on the developer’s website and proceed accordingly.

Make sure that the Reservation Agreement Form is duly accomplished with all the details and signature at the right places. Usually, the developer or seller can give you a copy of the Reservation Agreement Form if it is not available on the developer’s website. If it is, just print and sign the form. Mail or fax the form to the developer’s office before you reserve your chosen property from the list of properties Philippines online.

Afterwards, you need to pay the required reservation fee. The amount of the reservation fee differs depending on the developer and type of properties Philippines. It can be anywhere from ₱5,000 up to ₱100,000. You may pay the fee in cash or through:

  • bank deposits,
  • online bank transfers,
  • remittance centers, or
  • credit cards.

A proof of wire transfer or remittance is required, which you can also fax or mail. Upon receipt of the reservation fee, the developer will issue an official receipt. Make sure that what you have is an official receipt and not an acknowledgement receipt. Some developers also send welcome letters.

Be reminded also that the validity of the reservation of new houses in the Philippines is only 30 days, after which you have to make a partial or full payment before or on the 30th day from the date of reservation.

Other things that you need to know regarding the reservation of new houses for sale Philippines:

  1. Is it deductible? Yes, reservation fees are deductible from the total selling price. Some developers deduct the reservation fee from the downpayment.
  2. Is it refundable? No, reservation fees cannot be refunded to the person due to the missed selling opportunity the developer suffered from.
  3. Is it transferable? The answer will depend on the reservation policies of the developer. If the transfer is permitted, expect a transfer fee or charge.

Take note that not all new houses for sale Philippines require a reservation. Check with the developer or your seller so you would know what to do next. Do not make a reservation unless you are 101% sure that you will buy the property.

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Home Staging: Four (4) Things To Consider Before Staging Your House

Home staging is critical in a real estate transaction. The overall look and ambience of your residence, as well as the impression it leaves to prospective buyers can very well define the success of the whole deal. Needless to say, it is a phase in the home-selling process that owners should never overlook at and instead, take careful consideration of.

staging examplesWhat To Consider Before Staging Your House

Prepping a house takes more than just cleaning up, de-cluttering and putting accessories on. It takes more than just removing personal paraphernalia or upgrading the kitchen for a better feel. There are several things to think about first before starting the procedure. Here are some of them.

1.       Decide if you will do it yourself or hire a pro.

  • Budget. Prepping a house to have it up in the market can incur some expenses. You may need to fix broken faucets or pipes, replace old sinks or light fixtures, do a repaint of the wall, buy presentable doormats or carpets. Do you have enough funds to include a professional in the team?
  • Time. You will need to spend a few hours to conduct research too. With the growing number of new houses for sale in the Philippines for example, what techniques will surely work? What are the latest trends that will give you the edge and yet not cost a lot on your end?
  • Skills. While there are some DIY tricks that are easy to implement, it still requires a pint of creativity to make your property stand out from the rest. Do you have what it takes?

2.       Avoid focusing your thoughts as the homeowner. Chances are, you will have a hard time looking at the whole experience with fresh eyes. Worse, you may choose to forget about the entire thing simply for sentimental reasons. Therefore, detach yourself from the property. Keep your focus on your primary goal.

3.       Segregate the for-sale and not-for-sale items. There are instances when you may need to let go a few furniture or equipment as a land for sale freebie to entice the public. There are also times when you may consider selling some pieces of great value for higher returns and this event is a perfect opportunity to get it up there with no extra hassle. Ensure that you categorize them properly and put signage which ones are for-sale.

4.       Identify your buyer. It is all about approaching it in a manner that is extremely appealing to your targeted homebuyers. Are you hoping to target individuals in their mid-20s or family men in their late 40s? Determining this will make the staging easier and quicker to implement.