How to Buy a Property When You’re an OFW?

Overseas Filipino Workers are true heroes. The distance that they have travelled to give a better future to their family is something that shouldn’t be joked about. The money that they have cultivated must go to an investment that will surely become worthwhile.

A worthwhile investment is owning a house. What all OFWs want is to have their own home built by their sweat and perseverance. But how will they get the home of their dreams if they are living overseas?

The first answer of course is to go back to the Philippines. But will you spend your precious vacation leave collecting documents and all that stressful application process? Of course not!

Fortunately there are ways in which the Filipino living overseas can still buy a property, even though they are living miles and miles away.

Find the Perfect House

The first thing that to do is to find the perfect house. You can use real estate portals online and find the dream home that will definitely fit your desires.

property in the philippines

Choose a Representative

Find someone who can become your attorney-in-fact. The attorney-in-fact is the one who will represent you in all the legal process of owning a house. To make your attorney-in-fact official, sign and consularize the Special Power of Attorney (SPA). After that, your attorney-in-fact can now sign forms and attend meetings on your behalf.

Collect the Following Documents

Here are the most important documents that you should have when buying a house:

  • Signed and consularized SPA
  • Photocopy of important IDs (passport, driver’s licenses, etc.)
  • Proof of billing of utility bills
  • Proof of income
  • TIN (Tax Identification Number)
  • Certificate of employment
  • Employment Contract

Find a Loan

If you’re planning on paying in installments, then you should apply for a home loan. Use‘s Housing Loan Calculator to find out how much loan you’ll be able to get for your house.

Prepare for Tax Obligations

Do research about the tax obligations that you have to pay. Here are the tax obligations that you should know:

  • Notary fee
  • Local Transfer Tax
  • Registration Fee

Find the Best Developers

Choose the best developer who has your interest at heart. Some developers out there are only in it to get your hard-earned cash. What you need to do is to research. Ask your friends for referrals. Tell your attorney-in-fact to talk with the developers’ representative on your behalf. Remember, it’s better to be safe than sorry.

Get Ready for the Turnover

And after the rigorous application, you finally own your house. There’s only one thing left to do: check the house. Let a family member or the attorney-in-fact see if the property that you bought has any damages left, or has any problems that need to be solved. Here are the things that should be checked out:

  • Check the floors, walls, ceiling, and roof of the house.
  • Inspect the exterior too.
  • Check if the electricity and the plumbing of the house are perfectly installed.

Follow the steps here and you’ll surely have the best homecoming ever!

Anne Lawson
Anne Lawson is a British writer who keeps her eye on business and trending issues that affect us all. She loves to delve into the real story and give us interesting tidbits we might otherwise miss.