FAQs(Online Purchase Process and Procedures)

 

SECURE THE UNIT OF YOUR CHOICE

1. SELECT 

Go through our ongoing projects and choose the property you like.

2. CONFIRM AVAILABILITY

Inquire on the availability of the property or the unit you have selected.  You may contact our Online Telemarketers (OTM) immediately. 

3. PREFERRED PAYMENT TERMS

Payment terms and discounts may vary depending on the project. Find out about the options and choose the one that best fits your terms and budget. A sample computation will be prepared by our Online Telemarketer according to your preferred Payment Term. 

4. RESERVE

The Request for Reservation Application is the initial agreement between you and ANCHOR LAND HOLDINGS, INC. Our Online Telemarketer will file a "temporary booking" with a holding period of 24 hours only, from the closing date of availability. Reservation Fee must be made to OFFICIALLY BOOK the unit to your favor. Our Online Telemarketer is available to take note of the details of your payment; however, a copy must still be sent via fax, scanned email attachment, or courier. 


Online payments require personal details and credit card details to proceed with the transaction. Your credit card information must be accurate. Inconsistencies on the given information will delay the process or may cancel the intended purchase. For Cheque payments, inconsistencies with the account details and signature will delay the process or may cancel the intended purchase.
NOTE: Payment of Reservation Fee will secure the unit of your choice to your name

 

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COMPLETE DOCUMENTATION REQUIREMENTS


After payment of RESERVATION FEE, please send us the following original documents immediately:
Signed RESERVATION APPLICATION
                Proof of RESERVATION FEE payment
                Signed BUYER’S INFORMATION SHEET
2 VALID IDs with photo and signature specimen
Note:

Completion of documents will officially book the unit to your name.


These forms may be downloaded and printed from our website.  Please fill up the needed information completely then affix your signature over printed name.  Double check these documents and the information you provided before sending them back to us.   You may send these forms through fax, scanned email attachment, or courier.   Please make sure to have copies of these documents.
Online Telemarketer may fill in details in the form, should you need assistance.

 

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 OTHER NECESSARY DOCUMENTATION REQUIREMENTS


A:  For Filipino based in the Philippines

  • Sample Computation
  • Reservation Application
  • Buyer’s Information Sheet
  • Complete Post-dated Cheques
  • Tax Identification Number (TIN)
  • Community Tax Certificate (CTC)
  • 2pcs 2x2 ID Photo
  • 2 photocopies of Valid IDs with specimen signature

Any of the following IDs may be submitted:
Passport
Driver’s License
Company ID

  • Marriage Contract ( If applicable)

 

B:  For Filipino and Foreign Buyers residing / based abroad

  • Sample Computation
  • Reservation Application
  • Buyer’s Information Sheet
  • Complete Post-dated Cheques
  • Tax Identification Number (TIN)
  • 2pcs 2x2 ID Photo
  • 2 photocopies of Passport with picture and specimen signature
  • 2 photocopies of any valid ID with picture and specimen signature

Any of the following valid IDs may be submitted:
Passport
Driver’s License
Company ID

  • Marriage Contract ( If applicable)

C:  For Foreigners residing / based in the Philippines

  • Sample Computation
  • Reservation Application
  • Buyer’s Information Sheet
  • Complete Post-dated Cheques
  • 2 photocopies of Passport with picture and specimen signature
  • 2 photocopies of any valid ID with picture and specimen signature

Any of the following valid IDs may be submitted:
Passport
Driver’s License
Company ID

  • Alien Certificate of Registration (ACR)
 

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MODE OF PAYMENTS


For your payment convenience, below are listed options to choose from. 

CREDIT CARD ONLINE PAYMENT


FOR ONLINE CREDIT CARD PAYMENTS: VISA, MASTERCARD, JCB, AMEX


Step 1

1st: Access our ONLINE PAYMENT page and click RESERVE NOW
2nd: Register – fill in all / or the required fields
3rd: Click SUBMIT
NOTE: An auto-notification regarding email verification will appear on your screen. Please verify to be able to continue with the payment. Once email has been verified, you may go back to our online page, proceed to STEP 2, and log in.

Step 2

1st: Choose the project from the dropdown
2nd: Fill in the unit number
3rd: Fill in the Reservation Fee amount
4th: Choose your mode of payment for Down Payment and Monthly Amortizations

Step 3

1st: Have your credit card ready
2nd: Choose the type of credit card to be used for payment
2nd: Check the details on your credit card – your name, credit card number, and expiration date – to ensure smooth transaction
3rd: Fill in your card number
4th: Fill in the expiration date of your credit card
5th: Fill in your 3-digit CSV security number found at the back of your credit card
6th: Click PAY
7th: Wait while payment is being processed
NOTE: Within seconds, an auto-report / auto-notification of your payment will appear on your screen
8th: Print the NOTIFICATION REPORT of your transaction
9th: Affix DATE of the date of payment and SIGN OVER PRINTED NAME
10th: Send a copy to your ONLINE TELEMARKETER via scanned email attachment, fax, or courier
11th: Download the BIS (Buyer's Information Sheet) and RA (Reservation Application) forms, sign over printed name, have it scanned; then send to our ONLINE TELEMARKETER via email attachment, fax, or courier.
NOTE: Please fill in all the remaining details in the forms and complete all requirements before forwarding to our ONLINE TELEMARKETER.

CASH or DIRECT DEPOSIT

Cash and Cheque payments may be deposited through our accredited bank.
1st: Identify PAYMENT and PROJECT DETAILS (Reservation Fee, Down Payment, and Monthly Amortization)
2nd: Provide PERSONAL DETAILS (Name, Address of Current Location, Contact Details)
3rd: Deposit payment to any of our PHILIPPINE PESO AND DOLLAR BANK ACCOUNTS
4th: Secure the ORIGINAL COPY of the VALIDATED DEPOSIT SLIP
5th: Immediately SEND a COPY OF THE VALIDATED DEPOSIT SLIP to your ONLINE TELEMARKETER via scanned email attachment, fax, or courier.

WIRE TRANSFER / FUND TRANSFER / AUTO-DEBIT


Our accredited banks are ready to accept your payments. Amount received by our company as payment for the purchase made shall be the NET AMOUNT after bank charges
1st: Identify PAYMENT and PROJECT DETAILS (Reservation Fee, Down Payment, and Monthly Amortization)
2nd: Provide PERSONAL DETAILS (Name, Address of Current Location, Contact Details)
3rd: Payment must be WIRED, TRANSFERRED, our CREDITED to any of our PHILIPPINE PESO AND DOLLAR BANK ACCOUNTS
4th: Secure the ORIGINAL COPY of the VALIDATED TRANSACTION RECEIPT / SLIP
5th: Immediately SEND a COPY OF THE VALIDATED TRANSACTION RECEIPT / SLIP to your ONLINE TELEMARKETER via scanned email attachment, fax, or courier

REMITTANCE / DOOR-TO-DOOR

Clearing of international cheques takes 30 – 45 days. Additional charges for the transaction are for the account of the BUYER.


1st: Go to any Remittance Center or Courier Service nearest you
2nd: Identify PAYMENT DETAILS
3rd: Provide PERSONAL DETAILS (Name, Address of Current Location, Contact Details)
4th: Do not send your payments to our Bank Accounts. Address PAYMENT TO:

(For Courier)
AMABELLE OMAGA
Telemarketing Manager
Telemarketing Department
ANCHOR LAND HOLDINGS, INC
15/F, LV Locsin Bldg.
Ayala Ave. corner Makati Ave.,
Makati City, Metro Manila
Philippines 1229

(For Remittances)
Telemarketing Officer
ANCHOR LAND HOLDINGS, INC
15/F, LV Locsin Bldg.
Ayala Ave. corner Makati Ave.,
Makati City, Metro Manila
Philippines 1229

5th: Secure the ORIGINAL COPY of the VALIDATED TRANSMITTAL RECEIPT / SLIP
6th: For us to monitor transit of payment, immediately SEND a COPY OF THE VALIDATED TRANSMITTAL
RECEIPT / SLIP to your ONLINE TELEMARKETER via scanned email attachment, fax, or courier.


DOWN PAYMENT


Down payment is computed from the Total Contract Price of the property. Payment must be made within 30 days from the date of reservation fee payment
Sample Reference:
Date of Reservation Fee payment: July 1, 2009
Down payment due date: August 1, 2009

For International BUYERS: International Cheque Payments
International-issued Cheque Payments must be dated one month ahead from DP due date.
Clearing of funds for International Cheque payment is 30 days to 45 days.
For Philippine Local-Domestic Buyers: Philippine Local-Domestic Cheque Payments
Philippine Local Cheque: Clearing of funds is 3 days.
Philippine Domestic Cheque:

DP Cheque Payment and / or Post-dated Monthly Amortization Cheques may be sent to:
AMABELLE OMAGA
Telemarketing Manager
Telemarketing Department
ANCHOR LAND HOLDINGS, INC
15/F, LV Locsin Bldg.
Ayala Ave. corner Makati Ave.,
Makati City, Metro Manila
Philippines 1229

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ENSURE YOUR MONTHLY AMORTIZATION PAYMENTS


  BUYERS may opt to pay Monthly Amortizations, on a regular monthly basis, through WIRE TRANSFER / FUND TRANSFER, AUTO-DEBIT, or REMITTANCE.  For step-by-step procedures, please refer to our ONLINE PURCHASE GUIDELINES AND PROCEDURES under MODE OF PAYMENTS

For Post-dated Monthly Amortization Payments, please send via courier to:


AMABELLE OMAGA
Telemarketing Manager
Telemarketing Department
ANCHOR LAND HOLDINGS, INC.
15/F, LV Locsin Bldg.
Ayala Ave. corner Makati Ave.,
Makati City, Metro Manila
Philippines 1229



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PROOF OF PURCHASE FROM ANCHOR LAND HOLDINGS, INC.


OFFICIAL RECEIPT (OR)


ANCHOR LAND HOLDINGS, INC. will ONLY issue ORs upon CLEARING OF FUNDS, credit of CASH payments, and credit of ONLINE CC payments.  Official receipts are mailed on a quarterly basis, both for International and Philippine – Local and Domestic.


CONTRACT TO SELL (CTS)

to the BUYER

for SIGNATURE.  CTS will have to be processed for NOTARIZATION as a requirement of the Philippine courts to recognize the validity of signed documents originating from overseas.
Once received, the BUYER must:
1st:  Confirm and Validate content and details pertaining to the purchased property 
(PROJECT TYPE, UNIT NO., TYPE OF UNIT, UNIT FLOOR LEVEL, TOTAL CONTRACT PRICE, and TOTAL NET PRICE)
2nd:  Affix SIGNATURE on the SIDE of EACH PAGE; and on the BLANK provided on the LAST PAGE
3rd:  Immediately SEND BACK to ANCHOR LAND HOLDINGS, INC. via courier c/o:
AMABELLE OMAGA
Telemarketing Manager
Telemarketing Department
ANCHOR LAND HOLDINGS, INC.
15/F LV Locsin Bldg.
Ayala Ave. corner Makati Ave.
Makati City, Metro Manila
Philippines 1229

*Courier charges are at the expense of the buyer.

 

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FACTS ON PROPERTY OWNERSHIP

Contract to Sell (CTS)

A Contract to sell or CTS is a document where developer promises to transfer to the buyer the ownership and physical possession of the property upon the buyer's fulfillment of the terms of the sale, and the buyer obliges himself to pay the purchase price and comply with the other terms and conditions of the sale. Once the property is paid in full, a Deed of Sale (DOS) is executed by the developer and buyer.


Consular Notarization

Consular Notarization is the process by which the consular agent or officer in the foreign service of the Philippines stationed in the country, where the record is kept, authenticates a document by the seal of its office. A document is deemed Consularized when executed before and notarized by a foreign notary, and such notarization is authenticated by the Philippine consular agent or officer, or when directly authenticated by such Philippine consular agent or officer, in either case, sealed by the seal of the office of the Philippine consul.


Notarization

Notarization is the process by which the person executing the document personally appears in person before a Philippine notary public and represents to such notary public that the signature on the instrument or document was voluntarily affixed by him for the purposes stated in the instrument or document, declares that he has executed the instrument or document as his free and voluntary act and deed and, if he acts in a particular representative capacity, that he has the authority to sign in that capacity.


Execution of documents means the signing and accomplishment of documents under the proper, legally prescribed conditions, such as before witnesses if required.

A listing of consular offices may be found in the website of the Philippine Department of Foreign Affairs (DFA):
http://www.dfa.gov.ph

Execution of Documents

18 years old and above

Under Philippine law, only persons of legal age (18 years and above) are allowed to enter into contracts. A minor may, however, be allowed to purchase real property from his/her own funds if represented by a legal guardian. The legal guardian is required to furnish a bond in such amount as the court may determine, but not less than 10% of the value of the property or annual income of the minor, to guarantee the performance of the obligations prescribed for the guardian.


The guardian purchasing the property on behalf of the minor must submit a Certificate of Finality of the Order of the court appointing him/her as guardian of the minor child and approving the bond posted by him in compliance with the requirements of the Family Code of the Philippines.


Civil Status

Under Philippine law, all property acquired during the marriage is presumed to be community property of the married couple, unless it is proved that the couple agreed in a marriage settlement to be governed by another type of property regime prior to their marriage. Thus, in the absence of a pre-nuptial agreement, the contract shall be executed, and the property registered, either (1) in the names of "Spouses Mr. A and Mrs. A" if bought from the common funds of the spouses, or (2) in the sole name of "Mr. A, married to Mrs. A," where Mr. A buys the property using his own funds.


This rule applies even if the married spouses are separated in-fact (i.e., not legally separated).


However, if the spouses are legally separated, or their marriage has been annulled or declared null and void, the property may be registered solely in the name of the spouse buying the property upon submission of the Certificate of Finality or Entry of Judgment of the decision of the court granting the legal separation or annulment of marriage and the separation of properties.


*If married, the property may be registered solely in the name of the spouse buying the property upon submission of a duly executed pre-nuptial agreement.


If the property was acquired in the name of a Philippine citizen or former natural-born Philippine citizen who is married to a foreigner, the Philippine citizen is required, as a precondition to the registration of the property in his or her name, to execute a Certificate of Paraphernal Property which states that the property was purchased by the Filipino spouse with his or her own money. In such case, the document shall be executed, and the property registered, in the name of the Philippine citizen or former natural-born Philippine citizen, with the spouse's name indicated as being "married to" such Philippine citizen or former natural-born Philippine citizen.


Citizenship

The discussion on "Who may Own Real Property" applies in the determination of whether a Philippine citizen, foreigner, or former natural-born Philippine citizen may execute agreements for the sale and purchase of private lands.


The child of a natural-born Philippine citizen who subsequently loses his Philippine citizenship may acquire private land in the Philippines provided; he or she is of legal age and is a Philippine citizen. The citizenship of the child is determined, however, by the circumstances prevailing at the time of his or her birth, such as the date of his or her birth and the citizenship of the child's parents and such other factors as may be applicable under Philippine law.


Special Power of Attorney

If the buyer wishes to transact through his or her representative, Philippine law requires that a Special Power of Attorney (SPA) be executed by the buyer in favor of such representative to act as his or her attorney-in-fact. The SPA shall bear the signature of the buyer and the specimen signature of the qualified representative, and expressly specify the authority of the qualified representative to, among others, sign the sale documents and obtain and receive, for and on behalf of the buyer, the owner's duplicate of the certificate of title to the property.


Documents executed by the buyer submitted in support of his or her personal circumstances must be certified and/or attested by a notary public and, if executed outside the Philippines, must be authenticated by the Philippine consul as to the due execution of the relevant document or instrument in the country where such document or instrument was executed.

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PROOF OF PROPERTY OWNERSHIP

Transfer Certificate Title (TCT)

Ownership of a subdivision lot is evidenced by a transfer certificate of title (TCT) issued by the Register of Deeds of the relevant city or municipality where the subdivision project is located.


Condominium Certificate of Title (CCT)

Ownership of a condominium unit is evidenced by a condominium certificate of title (CCT) issued by the Register of Deeds of the relevant city or municipality where the condominium project is located.


Tax Declaration (TD)

Ownership of a single-detached house or townhouse constructed on a subdivision lot is evidenced by a Tax Declaration (TD) issued by the City Assessor of the city or municipality where the project is located.   Subdivision lots and condominium units are also covered by a TD.


Upon the payment of the relevant taxes and fees to the government units and agencies, and obtaining the necessary clearances to register the property from the BIR and the local government unit concerned, the TCT or CCT shall be transferred from the name of the developer to the buyer by the appropriate Register of Deeds.
The TD covering the lot and/or dwelling unit or condominium unit shall be transferred by the appropriate City Assessor from the developer to the buyer upon submission of the sale documents and the BIR tax clearance authorizing the registration of the property in the name of the buyer.
The TD for a subdivision lot in the name of the buyer is issued after the issuance of the covering TCT. The TD for a dwelling unit, whether a single-detached house, townhouse, or a condominium unit, is issued only after the local government unit has issued an occupancy permit which allows the occupancy of the same by the owner of the unit.


Deed of Sale (DOS)

A Deed of Sale or DOS is a document executed when buyer pay the developer in cash (whether using his or her own funds or through funds borrowed from bank or financing institutions). In the DOS, the developer transfer ownership of the property to the buyer, subject to the compliance by the buyer with the Deed of Restrictions or Master Deed with Declaration of Restrictions governing the project and the other terms and conditions of the sale.


Transfer Certificate of Title (TCT)

A Transfer of Certificate of Title (TCT) is a proof of ownership of a subdivision lot issued by the Register of Deeds of the relevant city or municipality where the subdivision project is located.


Condominium Certificate of Title (CCT)

A Condominium Certificate of Title is proof of ownership of a condominium unit issued by the Register of Deeds of the relevant city or municipality where the condominium project is located.


Tax Declaration (Tax Dec)

The TD shows the assessed value of the property which is used as basis for charging the real property tax (RPT) imposable on the property.

 

TAXES, DUES, AND FEES

Applicable taxes and fees on a purchased property which you have to pay for include taxes, fees, and association dues.
The taxes/transaction costs in the sale of real property from the developer to a buyer are the following:

Income/Creditable Withholding Tax

The developer is subject to a 35% income tax payable to the Philippine Bureau of Internal Revenue (BIR) on income derived from the sale of property. As a general rule, the buyer is required to withhold 5% of the purchase price, zonal value or TD value of the property, whichever is higher, to be credited to the income tax of the developer. The developer may cause such withholding to be made on behalf of the buyer and remitted to the BIR.


Value-added Tax

Value-added tax at the rate of 12% of purchase price, zonal value or TD value of the property, whichever is higher, is payable on each sale of real property to the BIR.


Documentary Stamp Tax

Documentary stamp tax at the rate of 1.5% of the purchase price, zonal value, or TD value of the property, whichever is higher, is payable on the execution of the DOS to the BIR.


Local Transfer Tax

Local transfer tax is imposed by the local government unit where the property is located generally at the rate of 50% of 1% of the purchase price, zonal value, or TD value of the property, whichever is higher. Registration fees are payable to the Register of Deeds where the property is located at the rate of P8, 796.00 for the first P1.7million plus P90.00 for every P20, 000.00 or fraction thereof in excess of P1.7 million.


 

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LEGALITIES OF PROPERTY OWNERSHIP


Ownership for Filipinos abroad

It is advisable for Filipinos away from home investing in real estate to familiarize themselves with the laws on "LAND ACQUISITION" in the Philippines, stated in the Constitution.


*Only Filipino citizens and corporations and associations at least 60% of whose capital owned by Filipinos may acquire private lands.


*Foreigners are allowed to purchase a condominium unit, provided that total foreign ownership of the condominium corporation does not exceed 40%. They may also inherit real property from their deceased Filipino spouses or parents.


* Children born to a Filipino parent, whether legitimate or illegitimate, may inherit the property of the Filipino parent, even if the child is not a Filipino citizen.


*Filipinos who lost their Filipino citizenship will remain the owners of any property they have acquired before changing nationalities. A natural-born Filipino citizen who has lost his Philippine citizenship may be a transferee of private land up to a maximum of 5,000 square meters in the case of urban land or three (3) hectares in the case of rural land. In case he already owns urban or rural land, provided that when these are added to those already owned by him, the aggregate area shall not exceed the said maximum areas.


Corporate ownership

A corporation is a juridical person capable of having rights and obligations, with a personality separate and distinct from that of its shareholders. Corporations may be classified into two general classes: stock and non-stock. Stock corporations are governed by a board of directors and its shares are held by persons referred to as shareholders. Stock corporations have capital stock divided into shares and are authorized to distribute to its shareholders dividends out of its surplus profits. Non-stock corporations are governed by a board of trustees and the persons constituting it are referred to as members. Non-stock corporations exist for purposes other than profit, like religious, civic, and charitable organizations, and no part of its income is distributable as dividends to its members, trustees or officers.


Required Corporate Document

The Securities and Exchange Commission (SEC) website (http://www.sec.gov.ph/) provides a listing of all the documentary requirements and the procedural steps for incorporation a domestic corporation.


Corporate Foreign-owned property in the Philippines

Foreigners may indirectly own land by investing in Philippine corporations registered with the Securities and Exchange Commission (SEC) subject to the foreign equity restrictions for ownership of private land discussed above. Such Philippine corporations may then acquire the land.

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