It is every OFW's dream to own a house and this dream is made more realizable now more than ever with the many housing options available in the market that will suit every budget. If you are working abroad, the process of owning a home today has become a manageable process.

Since all transactions will be executed in the Philippines, first thing you have to do is assign a representative , or what is legally known as " Attorney-in-fact" who will represent you at every step of the property buying transaction. Make sure you assign someone you fully trust as all the actions of your attorney-in-fact will be binding on you. You can assign your spouse, parent or any person that you are sure you can finally  depend on to represent  your best interests.

Following are the steps that need to be taken when buying  a property in the Philippines;

1. Execute a Special Power of Attorney (SPA) document assigning your attorney-in-fact in the Philippines as you authorized representative  who will represent you in the property buying transaction and act on your behalf. The property developer from whom you are buying the property will usually provide the SPA form so have your attorney-in-fact request this from the developer. Have the SPA consularized in the Philippine Consulate nearest you. Consularization simply means the authentication of documents by the Philippine Consulate. Send the consularized SPA to your attorney-in-fact via courier.

2. Once your attorney-in-fact has the SPA, he/she then proceed to reserve the property - house and lot , townhouse or condominium unit - with the developer , showing the SPA as proof of his/her authority from you. Signing of reservation forms and payment of required reservation fee are usually done at this point.

3. Have your attorney-in-fact get list required documents submission from the developer so you can prepare these. The developer will usually require the following  submissions from  you through  your attorney-in-fact. ( Requirements may vary with each developer.

a)    Consularized SPA

b)    Photocopy of your passport (and make sure a signature on the side atleast 3 signatures)

c)   2 pcs. valid ID's ( photocopy back to back) and make sure a signature on the side atleast 3 signatures

d)    Proof of Income for the past months ( number depends on the  developer)

e)   Proof of billing in the Philippines ( utility bills like Meralco , Manila Water , Maynilad, PLDT, etc.)

f)    TIN ( Tax Identification Number)

g)   Employment Contract

h)   Certificate of employment and compensate ( from the employer)

i)    Married Certificate ( if married)

Send these documents via courier to your attorney-in-fact who will submit these to the developer on your behalf.

4. The developer will usually require the submission of post-dated checks from the downpayment. Send these together with the other required documents and submit these to the developer through your attorney-in-fact.

5. If you are buying on installment, your attorney-in-fact can apply for a loan on your behalf with the bank for bank financing option or with the developer for in-house financing option.
Make sure you instruct  your attorney-in-fact to monitor and follow-up your loan approval with the bank or developer. Sometimes the bank or developer  will require additional documents to be submitted. Once your loan has been approved. you just have to make sure that you consistently pay and fund the monthly amortization until the property is fully paid.

SPA ( Special Power of Attorney) Requirements:

• 2 pcs 1x1 id picture
• 2 pcs valid id ( photocopy back to back) and make sure a signature on the side atleast 3 signatures
• Cedula
• Birth Certificate
• Marriage Certificate ( if married)