Date Posted: 2012-05-21 09:03:22
Site Posted: Myproperty.ph
Once you have completed the requirements for the Pag-IBIG Maagang Pabahay, Disenteng Buhay Program, follow this application procedure:
I. Inquiry of List of Properties and Property Inspection
1. Proceed to the Pag-IBIG NCR/regional branch and ask for the list of the acquired assets being sold by the Fund. (This list is also available for download at the Pag-IBIG website.)
2. Go to a briefing and get an Instruction to Buyers form, as well as two copies of the Registration form. After filling up both copies, submit them and claim your duly acknowledged Reservation Form.
3. Go to the property you have chosen and do an inspection.
II. Submission of Purchase Offer and Deposit
1. Go back to the Pag-IBIG NCR/regional branch and get a Payment Order Form (POF).
2. Present your POF to the cashier, pay a reservation fee of P1,000 and claim your Pag-IBIG Fund Receipt (PFR, copy 1). (After paying the reservation fee, you have 15 days to come back and pay the required deposit).
3. Give the PFR of the reservation fee and claim 3 copies of the Offer to Purchase. Accomplish all forms and submit them to get copies 2 and 3 of the Offer to Purchase, as well as a Payment Order Form (POF)
4. At the cashier, hand over copy 3 of your Offer to Purchase and the POF to get a PFR.
(The deposit should be a minimum of 5% of the property’s selling price, and that the payment should be in the form of cash or manager’s check.)
5. Once you have received a phone call about the approval of your purchase, go to the Pag-IBIG NCR/regional branch, sign the “Conforme” portion of the Notice of Approval of Sale (NOAS) and get one copy of the NOAS.
(You have 30 days from this date to pay the remaining balance of the property. If you want to withdraw your offer, submit a letter for the request within 30 days from receiving the NOAS, after which your refund for the deposit will be processed within 3 working days.)
III. Payment of the Property’s Remaining Balance
1. Go to the Pag-IBIG NCR/regional branch and get a Payment Order Form (POF).
2. Proceed to the cashier, present the POF and give the remaining balance; and claim your Pag-IBIG Fund Receipt (PRF).
(The Deed of Absolute Sale or DOAS will be received after 3 working days for cash payments, 5 working days for local personal/manager’s check, and 7 working days for regional personal/manager’s check.)
3. Upon receiving a call that your DOAS is ready, go to the Pag-IBIG NCR/regional branch, pick up the 6 copies of the DOAS and sign them.
4. Have all copies notarized and submit 5 of the copies to the Pag-IBIG office.
(As per the ruling of the Bureau of Internal Revenue or BIR, the payment of the Expanded Withholding Tax or EWT is on the 10th of the following month, which means that your title will be released on the 12th of the said month.)
IV. Claiming the Title
1. On the 12th of the following month, head to Makati’s The Atrium or your regional branch.
2. Pick up copies 1 and 2 of the DOAS, as well as the following:
· Original receipt (OR) of the Expanded Withholding Tax (EWT)
· Original Transfer Certificate of Title (TCT) or Condominium Certificate of Title (CCT)
· Tax declaration
· Real estate tax receipts
· Deed of Assignment, if applicable
(The buyer will be responsible for claiming the Certificate Authorizing Registration from the BIR.)
Jillian Cariola, Writer
(cover image by gerard79)
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