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- Is
the listed selling price of a property still negotiable?
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| Yes, the listed
selling price is still negotiable subject to UCPB's approval.
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- What
do we need to do or submit once we are interested in a particular
property?
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You
need to submit a letter of intent to purchase the said
property. The letter should indicate the following: |
- Offer price
- Terms of payment (cash or take out by other banks
or financial institutions)
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| Click
here for a sample format of the letter of intent in
PDF format. |
Note: You need
the free Adobe Reader software to view and print PDF files.
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- Whom
do we contact if we want to see a particular property?
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What is the meaning of "AS-IS WHERE-IS"?
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| The term
"AS-IS WHERE-IS" basis shall mean that the UCPB
makes no warranty as to the quality and physical condition
of the property and that the buyer buys and takes said property
in the condition that it is found and from the place where
it is located, as well as all legal actions and encumbrances
on the property that the buyer knows or ought to know. |
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| In addition,
UCPB will not shoulder any expenses relative to the following:
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| a. |
If the
property needs improvement, the cost of repairs on the property; |
| b. |
If the property is
a vacant lot, relocation survey of the property to establish
the exact boundaries; and |
| c. |
If the property contains
squatters, the cost of ejectment of the same. |
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- We
are based abroad and are interested to buy a property in the Philippines
through our relative.
What do we need to submit or what is process that we have to go
through to be able to acquire the property?
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| The buyer must submit
a consularized Special Power of Attorney (SPA) through his
authorized representative. The SPA must contain authorization
for the representative to transact, negotiate and sign in
behalf of the buyers for all the necessary documents relative
to the purchase of the property. |
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What other expenses do we still need to pay aside from the Purchase
Price? How do we compute for this amount??
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| The following
are the other expenses to be shouldered by the buyer: |
a. |
Documentary
Stamp Tax - 1.5% of the purchase price or zonal valuation
whichever is higher |
b. |
Transfer
Tax: |
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For Manila,
Pasay and Quezon City properties - 0.75% of the purchase
price or zonal valuation whichever is higher.
For other locations - 0.50% of the purchase price or zonal
valuation whichever is higher. |
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Please note that
the transfer tax may changed without prior notice since
this is a government agency-related expense. |
c. |
Registration
Fee - based on the fee schedule of the Registry of Deeds |
d. |
Creditable
Withholding Tax - UCPB will pay only up to 6% of the Creditable
Withholding Tax. Any excess assessment on the purchase price
will be for the account of the buyer. |
e. |
Miscellaneous
Expenses - for photocopying of documents; preparation of
certifications, clearances, Documentary Stamps, entry fees,
etc. |
f. |
Notarial
Fees |
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UCPB
will shoulder payment of the real estate taxes, insurances,
association dues and other incidental expenses until the
turnover of the property.
Once the property has been turned over, all taxes, insurance
premiums, association dues and other incidental expenses
will be for the account of the buyer,
even if the title to the has not yet been transferred in
the name of the buyer. |
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Are Philippine-born individuals with different citizenship at
present allowed to own real estate properties in the Philippines?
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| Yes, but only up
5,000 sqm. for urban properties and three (3) hectares for
rural properties to be used by him/her for business or other
purposes. For married couples, only one of them may avail
of this privilege. If both parties shall avail of this privilege,
the total area acquired should not exceed the maximum area
herein fixed. He/She may acquire not more than two (2) lots
which should be situated in different cities or municipalities
anywhere in the Philippines. If he/she has already acquired
an urban property, then he/she shall be disqualified from
acquiring a rural property, and vice-versa. |
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What other selling guidelines should I know about?
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a. |
Buyers
are enjoined to personally inspect/investigate/verify the
actual site, condition, and status of the real properties
and improvements, if any, and chattels as well as all the
documents of ownership with the appropriate Register of
Deeds before formally submitting their offer. |
b. |
Properties
will be sold on a "FIRST-COME FIRST-SERVE" basis.
However, any offer to purchase in cash based on the selling
price indicated herein shall be given first priority. Offer
to purchase thru term financing via a Bank loan shall be
evaluated for management approval. |
c. |
UCPB
reserves the right to reject any offer to purchase. The
decision of UCPB is final and binding. |
d. |
Prices,
interest rates, and terms are subject to change without
prior notice. |
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- Where
can I get a complete listing of all UCPB properties available
for sale?
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You can download the list here
in Microsoft Excel format. We can also send the property
list to a valid email address you specify. Click
here to email the property list as a file attachment.
The list of properties is also available at any UCPB branch.
Click
here to find the branch nearest you. |
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