Guide to Selling Philippine Property

Required Documents

OCT (Original Certificate of Title) or TCT (Transfer Certificate of Title) proving you own the property.

New Deed of Sale (we prepare this for you)

Purchase Agreement (we prepare this for you)

Step-by-Step

1. Find Broker. Find a Broker to represent you. All property transactions are required to be underwritten by a licensed Philippine Broker.

IMPORTANT: make sure you verify the Broker's name & license # with BIR to ensure they are in good standing.

Agents cannot underwrite a transaction, they work under a Broker but have little authority. Make sure you get the Broker's License.

2(a). Purchase Agreement. All parties meet, and Broker ensures that a proper Purchase Agreement is drawn up/signed by Buyer, and presented to You. Should include price to paid, and dates (as well as other items).

2(b). Schedule. Set date to exchange necessary official documents, and for Buyer to have funds ready.

3. Prepare Money. If escrow is selected, we escrow the amount for you. If check, then Buyer prepares check.

4(a). Closing. Everyone meets to exchange documents and provide signatures.

4(b). Money Deposited. On same day, we transfer the escrow to your account, or we give you a personal check.

If escrow transfer, we'll transfer it that same day.

Ensure you deposit check in a "Peso" bank account. If you put it in a "Dollar" bank account (foreign bank), you will incur exchange rate & other fees.

5. Verify Deposit. 2 days later, ensure check cleared or escrow transfer occurred, and you actually see the money in your account (in-person, or online).

6. Keys & Commission. Next day after verification (or same day if possible) is the Final meeting. You give Buyer keys, and give us our Sales commission.

7. Pay Tax. Within 30 days, you pay the 6% BIR tax (we can do this for you upon request).