Processes In Investing On A Real Estate Property

For your guidance, here are the standard steps in purchasing a real estate property:

• INQUIRY. This is when the client expresses interest in a project.

• SETTING OF TRIPPING This is when the salesperson orients the client and shows him/her around the project.

• RESERVATION: Once the client decides on which project he/she likes, he/she pays the reservation fee to hold the particular unit.

• DOWNPAYMENT: This is when the buyer pays his initial investment to the seller.

• CONTRACT SIGNING: Here is when the buyer sign the agreement and issue PDC's if required by the seller.

• SUBMISSION OF REQUIRED DOCUMENT: This includes the Contract to Sell, Identification Cards, Proof billings, Photos, etc.

• PROCESSING OF FINANCING: Buyer fill-up the bank loan application form. The buyer should start accomplishing the required docs for bank financing after the Reservation. These include the proof of income, pay slips, income tax return, financial statement, IDs,

• TRANSFER OF TITLE: Should the client opt to pay through bank financing, the title of the property will remain in the possession of the bank until the full amount has been paid.

• MOVE-IN. This is after the seller turn-over the unit to the buyer.