Real Estate and Property Thread

[bxr monkey]

We are about to buy a house and lot from a realtor sa subdivision. The process the realtor told us eh nuhulugan yung down-payment for few months hen pag malapit na matapos down-payment they will help us apply for a bank housing loan.

Mukhang normal procedure ito. Same ang process namin sa Dmcihomes at Mycitihomes. Madalas may accredited banks sila na puwede pagpilian. Tapos doon kami nag shop ng rates. Nauwi kami sa BPI at RCBC respectively. Naisakaso naman ang papers na kailangan sa realtor/seller gaya ng contract to sell. Mga agent na kausap namin directly under sa Dmcihomes at Mycitihomes.

[Walter]

Talk to the bank directly ... it's just like a car loan ... if you use them as referral to the bank ... they will get commission ...

[dr. d]

Talk to the bank directly ... it's just like a car loan ... if you use them as referral to the bank ... they will get commission ...

many years ago,
there was this urban legend,
when the prospective buyer consulted his bank,
the bank liked it so much, it purchased the property from under the prospective buyer's nose.
heh heh.

[carxynogen]

many years ago,
there was this urban legend,
when the prospective buyer consulted his bank,
the bank liked it so much, it purchased the property from under the prospective buyer's nose.
heh heh.

Wala tayong kalaban laban nito.
Medyo unfair, mapa sana all ka nalang sa bank na karmahin sana.

[Walter]

when the prospective buyer consulted his bank,
the bank liked it so much, it purchased the property from under the prospective buyer's nose.heh heh.

Interesting why people would even believe this ... banks are not in real estate business ... and you'll lose a lot of clients doing that ...

[12vdc]

We are about to buy a house and lot from a realtor sa subdivision. The process the realtor told us eh nuhulugan yung down-payment for few months hen pag malapit na matapos down-payment they will help us apply for a bank housing loan.

Now someone suggested to us to take a bank loan na even before the down-payment, the bank daw can guide us with the documents and safety, it will help avoid scams. Is this true? Also what are the IDs, license or papers we should ask the realtor for before we hand them the down-payment? We are about to pay half of the down-payment para ma start na daw construction.

Do you guys have some guides I can read with this? Ayaw ko sumulong sa process na ito ng ignorant.

Equity ang tawag doon sa portion na ibabayad mo bago i-construct ng developer. After fulfilling the payment at gawa na yun house, saka ka naman magbabayad for the housing loan usually in-house financing na ipapasa din sa bank. Normal practice yan ng mga developer sa mga pre-selling, just make sure may mga license to sell.

[BratPAQ]

O feel uneasy with this process. We paid the reservation and signed some papers. The agent would help us, apply for bank loan. He sent us 2 forms, RCBC and China Bank. Ang daming info ng loan application. Pati bank account and how much laman, mga salary and allowance, etc. Then we will give this to the agent and they will fill up the details of the house and lot. I don't feel secured here na dadaan pa sa agent.

[carxynogen]

O feel uneasy with this process. We paid the reservation and signed some papers. The agent would help us, apply for bank loan. He sent us 2 forms, RCBC and China Bank. Ang daming info ng loan application. Pati bank account and how much laman, mga salary and allowance, etc. Then we will give this to the agent and they will fill up the details of the house and lot. I don't feel secured here na dadaan pa sa agent.

You can directly transact sa bank.
I agree, it's unsafe if sa agent idaan mga papers na daming personal information.
Question is bakit sa kanya pa dadaan?
In my experience, we personally went to the preferred bank of the developer to fill-up the needed forms from bank.
Then the bank will contact the developer and will be the one to assure the developer that the borrower is approved of the loan.

[AlexTarak]

many years ago,
there was this urban legend,
when the prospective buyer consulted his bank,
the bank liked it so much, it purchased the property from under the prospective buyer's nose.
heh heh.

Yeah that's just an urban legend. Doesnt happen in real life.