Preparing to Buy

When preparing to buy properties in the Philippines, take into account these key pointers.

Secure Your Key Financial Documents

Compile a comprehensive green file containing all your critical financial documents. This will be vital for securing financing for your property. A typical green file includes the following:

• Financial statements
• Bank account information
• Investment portfolios
• Credit card details
• Auto loan agreements
• Recent pay stubs
• Tax returns for the past two years
• Lease agreements for investment properties
• Life insurance policies, stock certificates, and mutual fund account information

Review Your Credit Score

Your credit score significantly influences the type of property you can purchase and at what price. It’s advisable to assess your credit rating with a reputable lending institution to determine your purchasing capacity.

Be Mindful of Expenses Moving Forward

Avoid making abrupt career changes or large purchases at this time. Enter your property purchase from a position of financial stability to ensure a smooth transaction.