Buying a subdivision lot or house and lot, or are you looking to buy your first condominium unit? Well, since it involves shelling out a substantial amount of money, one must be sure about what he or she is buying.
The Housing Land Use and Regulatory Board has provided tips and advice to would be buyers about buying your lot or house and lot or condominium unit, such as:
Before Buying
The Housing Land Use and Regulatory Board has provided tips and advice to would be buyers about buying your lot or house and lot or condominium unit, such as:
Before Buying
- Check if the Project has a License to Sell.You should ask the seller or broker/agent of the owner/developer if the project is registered and has a License to Sell issued by HLURB: or This can be verified in the HLURB website (www.hlurb.gov.ph) for list of projects with approved Certificate of Registration and License to Sell; Or you may go to the nearest HLURB Regional Office for this information.
- Conduct a personal visit to the subdivision/condominium, where the house and lot or condo unit to be purchased is located; If the project has a License to Sell, you may already enter into a Contract to Sell with the owner/developer. However, there are things which must be checked:
- The date of completion of the project as indicated in the License to Sell;
- If the property is mortgaged, it should have a Clearance to Mortgage from the HLURB;
- That the facilities and amenities represented in the advertisement flyers/ brochures are in accordance with the approved subdivision and condominium plan on file with HLURB.
More advice and tips on buying your property can be found at their website : www.hlurb.gov.ph
