⌛ Buying installment houses

well my house is 2 bed room one master and smaller room and living room and lot for 8500 php ands its actually very comfy. however im not looking for big house. all i need is nice naiborhood and clean house . just the wife have been searching for houses for long time but they are big and pricy.. to tell you the truth im buying it as gift for her. as far as me i only spend there 1 month then i go back to my boring work where you fight clients all day to lower car fixing prices as the company manegment wants lol

 

if any of you fine people wants to add me on yahoo messenger heres my email brokeniceee@yahoo.com

 

Wow that must be very hard seeing your wife only 1 month per year, and working so hard for it. Anyway just so you know, a lot of the rental houses have gone up in price over the last 2 years, but sometimes you get lucky.

Ron

 

honestly we live a secret life . my family dont know we are married . they want me marry saudi girls for past 10 years i refused

 

Wow. That's quite a revelation. You're a brave man and I raise my hat to you. Good luck to you and your wife.

Roger

 

Well that certainly explains your name. At least you seem to know what you want.

 

Yes, there are some banks in the Dumaguete that will loan you money on a home in your filipina wifes name and she does not have to work it can be based on your income. First time buyers has a limit on how much you can borrow and you have to be able to put down a certain %. The big thing is go over the loan fees very carefully they tell you at the end there is a processing fee which is high...not sure of the % rate of the loan that varies from day to day. The main thing you asked if you could borrow money for a home..yes you can if you qualify for the loan. If you need the Banks name let me know and I will ask for my friend just bought a home here in Batinguel.

 

wow thanks so much please do ask , i can also get salary proof letter from my work and it would be authenticated by the Filipino Embassy in Riyadh

 

I normally look up engross chronicles and check once a month on the digital PDF version and see what is available. I have seen some house and lots with 200 square metre allotments go for 300,000 pesos but they would be snatched up quickly! There is a 60/40 clause or something like that where you as a foreigner only own 40% and the wife owns the 60%. You only own that as long as she lives. Just ask your partner to ask around. There are a lot of places going cheap if you are prepared to move out a little, such as Pamplona.....larger blocks and cheaper per square metre....

 

Sorry, as a foreigner one can own 0%, unless acquired by hereditary succession.

Larry