Frequently Asked Questions

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Preselling condos refer to residential properties offered for sale by developers during the construction phase of the project. This allows potential buyers to secure a unit before completion and take advantage of early purchase benefits.

No, When purchasing a condominium unit, it is essential to note that you are becoming a member of a corporation. This is why each condominium tower has building administrators or property management in place. While the condominium itself does not have a lifespan, the corporation overseeing it does. Corporations typically have a duration of 50 years but can be renewed for an additional term.

No, Megaworld provides various payment options that allow you to pay approximately 30-35% of the contract price over a specified number of years. Upon completion of your unit, you will have the opportunity to apply for a home loan. Megaworld will ensure timely communication by notifying you several months in advance of the turnover date, allowing you ample time to make preparations for your home loan application.

To secure your preferred unit with Megaworld, there is a concise list of minimal requirements that need to be fulfilled. Please find below the complete list of necessary documentation:

1. Signed request for reservation and offer to purchase form

2. Buyer's information sheet

3. Specimen signature form

4. Two valid government-issued identification cards

5. Proof of payment for the reservation fee (Cash, Cheque, or Credit card)

Indeed, foreign individuals are eligible to fully own condominium units in the Philippines, subject to the requirement that at least 60% of the entirety of the building is owned by Filipino citizens. This provision ensures compliance with the regulations governing foreign ownership in the real estate sector, allowing for a harmonious balance between local and foreign investments.

Absolutely! It is entirely feasible to purchase a condominium unit, even if you reside abroad. The process begins with scheduling a Zoom meeting with your real estate agent to discuss the project of your interest. Once you have made your decision regarding the specific project and unit, your agent will email you the necessary forms and requirements. You can conveniently sign, fill out, and return these documents to your agent via email. To finalize the transaction, you will be able to pay the reservation fee through wire transfer or credit card, utilizing the provided AQWIRE link. This streamlined approach ensures a seamless and efficient purchasing experience, regardless of your geographic location.

Reservation fees made with Megaworld are non-refundable and non-transferrable to another unit or project. It is important to carefully consider your decision and thoroughly evaluate your options before making a reservation to ensure that you are fully committed to the chosen unit or project. Megaworld upholds this policy to maintain fairness and integrity in the reservation process.

Typically, banks in the Philippines provide mortgage terms ranging from 15 to 20 years for home loans. It is important to note, however, that the specific loan maturity period is subject to your age and must align with the age limit requirement set forth by the lending institution. This ensures that the loan duration remains within reasonable limits and adheres to the guidelines established by the bank.

At Megaworld, the properties we offer are VAT-inclusive, meaning that the value-added tax is already incorporated into the purchase price. However, it is important to note that upon property turnover, there are additional government taxes and move-in fees to be settled. These fees encompass the following components:

1. Documentary Stamp Tax

2. Transfer Tax

3. Registration fee

4. Processing fee

5. Real Estate Tax

6. Meralco Fee

7. Move-in fee

Please be informed that these charges are separate from the VAT and are required to be settled in order to complete the necessary legal and administrative processes associated with property acquisition.