CONDO INVESTMENT GUIDES
Most frequent questions and answers
After all the discussions and choosing your prefered project and payment terms reservation will be paid which is amounting to P30,000 which is payable thru cash, credit card or check. For overseas client’s wire transfer is accepted, ask for the account number of Megaworld to your property specialist.
Foreigners can buy a condo but not a land here in the Philippines ( Condominium Act of the Philippines, R.A. 4726). Yes the requirements are the same with the locals which are “1 Valid ID” and sign “Reservation Forms” and “Buyers Information Sheet”
Association dues is P100/SQM per month, this covers the payments for the staffs, maintenance of the condo and other necessary fees for the betterment of the condo.
There are no hidden charges after turnover other than the “taxes and fees” which are paid in the government like the real estate tax, documentary stamps and others. Usually it’s around 4-5% of the net contract price. Your property specialist can further discuss this with you for you to better understand it.
You can pay your balance thru cash, in house financing or bank financing. If ever you decided to use bank financing you can choose your prefered bank or your property specialist can refer you to there accredited and tied up banks and assist you as well in the process.
You will have a option to sell to other buyers your unit even the project is not yet finished or you can transfer your payments to our other project however there is no promise that 100% of your previous payments will be transferred, it will depend on how long have you been delinquent and on the type of unit that you will transfer in.
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