Avida Property buying: 5 Step Guide to a Seamless Purchase

Introduction

Avida is a leading real estate developer in the Philippines that has been providing thoughtfully-designed homes in secure communities for over three decades. With a focus on accessibility, unique features and amenities, quality assurance, stress-free buying, and relaxing living experiences, Avida has become the developer of choice among the rising middle class. This comprehensive guide aims to walk readers through the key steps and requirements for buying an Avida property, ensuring a smooth and informed purchasing process.

Step 1 – Choosing Your Avida Property

The first step in buying an Avida property is to select the preferred project location and unit type. Interested buyers should request a sample computation from an accredited seller to get an idea of the financing options available. This will also help you understand the project’s features, amenities, and location, allowing you to make an informed decision.

Step 2 – The Reservation Process

Once you’ve chosen your desired Avida property, the next step is to fill out and sign the Reservation Agreement form, which can be downloaded from Avida’s website. You’ll also need to prepare two valid government-issued IDs.The reservation fee can be paid in various ways, including cash, check, credit card, direct deposit, or remittance using iREMIT. After submitting the reservation requirements to Sales Admin and clearing the payment, Avida will issue an Official Receipt and Welcome Letter.It’s important to note that the reservation period is valid for only thirty (30) days from the date of reservation, and either full payment of the total purchase price or the downpayment of an installment purchase must be made on or before Day 30.

Reservation Checklist

Choose preferred Avida project and unit type
Request sample computation from accredited seller
Fill out and sign Reservation Agreement form
Pay Reservation Fee
Submit reservation requirements to Sales Admin

Required Documents for Booking

To complete the booking process, buyers must submit the following documents:

Final Computation Sheet (From Avida)

This is like a detailed receipt from Avida
It shows you exactly how much the property costs
Includes the property price, taxes, and other fees
Helps you understand the total amount you’ll need to pay
It’s important to review this carefully with your parents or a trusted adult

Credit Approval (from Avida)

This document shows that Avida believes you can afford the property
They look at your family’s income, savings, and other financial information
It’s like getting a “thumbs up” from Avida that you’re ready to buy
This helps protect both you and Avida from financial problems later

Reservation Fee and Down Payment

Reservation Fee: Usually ₱20,000 or ₱50,000
It’s like placement on the property for 30 days
Down Payment: Usually 20% of the property price
You can pay this with at least 12 post-dated checks
This shows Avida you’re serious about buying the property

Two Valid Government-Issued IDs

You need to provide two different official IDs
Examples include passport, driver’s license, or voter’s ID
These prove who you are and that you’re legally allowed to buy property
Both IDs should be current (not expired)
If you’re young, your parents’ IDs will probably be used

Proof of Billing (latest 3 months)

This could be electricity, water, or internet bills
The bills should show your family’s current address
They prove where you live and that you pay bills regularly
This helps Avida trust that you’re responsible with payments
If you’re renting, you might need to provide other documents

Bank Guarantee or Guarantee Check

This is for buyers using bank financing (getting a loan from a bank)
It’s a promise from your bank to pay Avida if something goes wrong with your loan
Think of it as a safety net for Avida
It shows that a bank believes your family can afford the property

Remember, buying a property is a big decision with lots of paperwork. Always ask questions if you’re unsure about anything in these documents. It’s important to understand everything before signing!

Additional documents may be required on a case-by-case basis, such as the Credit Life Insurance Application Form, As Is Where Is Form, and approved requests for acceptance or extension of payment.

Document Checklists

Individual Buyers

3 notarized/consularized Special Power of Attorney (for buyers transacting through an Attorney-in-Fact)
3 certified true copies of Certificate of Finality (for divorced/annulled/legally separated buyers)
3 certified true copies of Certificate of Finality appointing a guardian with copy of Surety Bond (if buyer is a minor)
3 notarized/consularized Affidavit of Citizenship or Oath of Allegiance (if buyer is a former Filipino citizen)
3 notarized/consularized Affidavit of Waiver (for buyers with foreign spouses)

Corporations/Partnerships

2 original certified true copies of SEC Certificate of Registration, Articles of Incorporation/Partnership and By-Laws (or equivalent documents for foreign companies)
Board/Partnership Resolution authorizing the purchase and designating signatories
2 copies of valid IDs of authorized signatories
2 copies of latest General Information Sheet (GIS)

Step 3 – Completing the Purchase

To complete the purchase, buyers must pay the down payment and submit a minimum of 12 post-dated checks for the remaining amortizations. They will also need to sign the Contract to Sell and other required documents.

Financing Options

Avida offers various financing options to make purchasing a property more accessible:

In-House Financing: Avida offers its own financing schemes with competitive interest rates and flexible payment terms. Consult with an Avida sales representative for more details.
Bank Financing: Buyers can also opt to finance their purchase through partner banks. Avida’s sales team can provide a list of accredited banks and assist with the loan application process.

Step 4 – Property Turnover and Inspection

After completing the purchase, Avida will schedule a property handover and final examination. During this process, buyers can check the unit for any defects or issues that need to be addressed before accepting the property. Avida’s customer service team will guide buyers through this final stage and guarantee a smooth switch.

Avida’s After-Sales Service

Avida is committed to providing excellent after-sales service and customer support. The company offers a warranty period for its properties, during which any defects or issues will be promptly dealt with. Buyers can reach out to Avida’s dedicated customer service team for assistance with any concerns or inquiries related to their property purchase.

Working with Licensed Brokers

To ensure a seamless and secure buying experience, it is highly recommended to work with licensed real estate brokers accredited by Avida. These professionals can guide buyers through the entire process, help them find the best property match, and ensure all legal requirements are met. Avida’s sales team can provide a list of trusted and experienced brokers to assist potential buyers.

Avida’s Track Record and Reputation

With over 30 years of experience in the Philippine real estate industry, Avida Land has established itself as a trusted and reputable developer. The company has completed numerous successful projects across the country, catering to the diverse needs of the rising middle class. Avida has received multiple awards and recognitions for its commitment to quality, innovation, and customer satisfaction. Testimonials from satisfied homeowners attest to Avida’s dedication to providing exceptional living experiences.

Step 5 -Additional Expenses and Fees

In addition to the purchase price, buyers should be aware of the following expenses and fees:

Income/Creditable Withholding Tax (5% of purchase price)
Value-Added Tax (12% of purchase price)
Documentary Stamp Tax (1.5% of purchase price)
Registration Fees (around ₱10,000)
Transfer Tax (0.5-0.75% of purchase price)
Association Dues (varies)

Conclusion

Buying an Avida property can be a rewarding experience, but it’s important to be well-informed about the process and requirements. By following the steps outlined in this guide and working closely with Avida’s sales team, buyers can navigate the purchasing process with confidence and secure their dream home in a thoughtfully-designed Avida community. Remember to always consult with a professional for specific legal and financial advice related to your property purchase.