27/01/2026
𝐓𝐨𝐩 𝟓 𝐌𝐢𝐬𝐭𝐚𝐤𝐞𝐬 𝐈𝐧𝐯𝐞𝐬𝐭𝐨𝐫𝐬 𝐚𝐧𝐝 𝐎𝐅𝐖𝐬 𝐌𝐚𝐤𝐞 𝐖𝐡𝐞𝐧 𝐈𝐧𝐯𝐞𝐬𝐭𝐢𝐧𝐠 𝐢𝐧 𝐂𝐨𝐧𝐝𝐨𝐦𝐢𝐧𝐢𝐮𝐦𝐬
Buying a condo while working abroad is possible—but many OFWs encounter problems due to avoidable mistakes. Here are the most common ones, based on Philippine real estate laws and standard practice:
1️⃣ Buying Through an Unlicensed Agent
Under RA 9646 (Real Estate Service Act), only PRC-licensed brokers and salespersons are allowed to sell real property. Unlicensed agents are not legally accountable, putting buyers at risk if issues arise.
2️⃣ Not Verifying the License to Sell
Under PD 957, developers must secure a License to Sell (LTS) from DHSUD before offering units. Buying without verifying the LTS may lead to delays, cancellation, or difficulty recovering payments.
3️⃣ Not Reading the Contract Carefully
Many OFWs rely on verbal explanations. Important items often overlooked include turnover dates, penalties, refund conditions, and payment terms. Contracts must be reviewed before signing or paying.
4️⃣ Underestimating Total Ownership Costs
Monthly amortization is not the only expense. Association dues, real property tax, move-in fees, and utility deposits are standard condominium costs that affect long-term affordability.
5️⃣ Buying Without a Clear Plan
Whether for end-use, rental, or resale, buyers should define their purpose. Location, demand, and realistic rental or resale value should be assessed—not just marketing claims.
Key Reminder:
Always work with a PRC-licensed realtor, verify documents, and ensure the transaction follows the law.
