Buying a condo in the Philippines: a step-by-step guide

Buying a condo unit (covered by a Condominium Certificate of Title, or CCT) is the most common purchase for first-time and overseas buyers. Here is the typical path.

1. Budget beyond the price

Plan for miscellaneous fees: reservation fee, down payment, and closing costs (documentary stamp tax, transfer tax, registration, notarial). Closing costs commonly run several percent of the price.

2. Reserve and review documents

You pay a reservation fee and review the CCT, tax declaration, and the developer's or seller's documents. Confirm there are no unpaid association dues or liens.

3. Contract to Sell / Deed of Absolute Sale

For pre-selling, you sign a Contract to Sell and pay in installments. For ready units, the Deed of Absolute Sale (DOAS) is notarized once the price is paid.

4. Pay taxes and transfer the title

Capital gains tax and documentary stamp tax are settled with the BIR; transfer and registration follow at the LGU and Registry of Deeds, ending with the CCT in your name.