The Simple Condo Investment Checklist For Serious Investors and Buyers

The Condo Developer 
At least more than 10 completed projects in their portfolio
With experience in developing a similarly sized and complex property development
Currently no significantly delayed project
Information about the project is openly provided
No legal trouble experienced by the company or the project.  Cases filed against the company are not material in nature
Financial statements of the company may be obtained to establish performance over the past 3 to 5 years
Now if the Developer has similar, completed projects with the one being built, I suggest you ask your broker if you could look at any of this similar properties to get a feel of their craftsmanship and performance.

The Condo Building and Unit 
The whole building is reasonably clean and well maintained
Nearby properties have no reported/visible structural problems
No problems with the access (doors), plumbing, electricity, lighting and/or ventilation
Internal layout of the property is suited for the purpose you want it to have

The Condominium Certificate of Title (when obtained)
Details in the contract to sell or deed of absolute sale are the same with the CCT
No liens or other annotations beyond those disclosed by the developer (such as the Master Deed of Restrictions)
Title is printed in the correct paper
Details of the CCT match the certified true copy obtained from the Registry of Deeds

Loan and Loan Documents  
Terms and condition in the Contract to Sell regarding the financing (installment payments, interest rates, events of default, and consequences of default) are clear and acceptable
Limitations on the assignment of the property/contract to sell during its term is acceptable
The partner banks where you will be referred to have acceptable terms and conditions regarding the loan takeout
The regular cash flow to support payments of the loan can be supported by your income or your savings

About the Deal and the Market  
Similar properties in the neighborhood are selling higher or about the same as your property
Area where the property is or will be built is a developed or fast developing neighborhood, with businesses and services located or locating in the area


This checklist remains to be a work in progress, as we add more crucial questions that would help you systemically figure out if you’re buying into a good deal.

FOR INQUIRIES PLEASE CONTACT:
RAQUEL CINENSE
(0920) 6273091
(0915) 3636381
(02) 736-1731
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