How To Buy a Condo Unit in Iloilo Business Park

Buying a residential condominium in Megaworld’s Iloilo Business Park (IBP) is straightforward and made easy particularly for investors who are currently abroad.

Megaworld Corporation understands that many investors are from abroad — whether they are Filipino immigrants, dual citizens, foreigners, or OFWs. Buying procedure is designed to be easy for both local and foreign investors. Property consultants (particularly from IloiloCondominiums.com) and IBP officers are trained to handle clients residing abroad.

With the help of digital technology and the internet — shopping, reservation, correspondence, and payments are easy and reliable.

Steps for buying a condo unit:

STEP 1: Shopping for units

Contact and communicate with an Iloilo Business Park Property Consultant/Agent via email, messenger, Skype, or phone call and ask for the following:

  • Availability of Units
  • Updated Prices
  • Payment Terms and Computation Samples

Note: Only an official Megaworld IBP Consultant/Agent can provide updated details of IBP properties as they are in direct contact with IBP office personnel.

STEP 2: Choosing and Holding Units

Once you have determined the condominium unit(s) you want to own. Request the consultant/agent to temporarily hold the unit(s) until you are able to reserve.

Please understand that some units are not viable to be put on ‘hold’ status, however majority of the units can be temporarily held for clients with the clear intention to officially reserve the property. Holding duration is around 2-5 days.

Whether the preferred unit is held or not, you can proceed to the next step — the reservation.

STEP 3: The Reservation

Here are the requirements to complete the reservation of unit(s):

  • Signed REQUEST FOR RESERVATION AND OFFER TO PURCHASE (RROP) formdocuments
  • Filled-up BUYER’S INFORMATION SHEET (BIS)
  • Two valid IDs, preferably passport, driver’s license, or other government IDs.
  • Reservation Fee of PHP 25,000 (or less if on promo)

Procedure:

  1. Documents and forms will be provided by the Megaworld Iloilo Business Park Consultant/Agent via email or any type of internet transfer.
  2. RROP and BIS should be printed
  3. Sign at the ‘BUYER’S PRINTED NAME AND SIGNATURE’ section of the RROP form.
  4. Fill up BIS as much as possible
  5. Send these filled and signed documents back to the consultant/agent via email attachment. Scanned documents are preferred but clear photographs of documents would do.
  6. Also send two valid IDs (scanned or photographed)

STEP 4: Payment of Reservation Fee

Megaworld consultants/agents would always advise clients overseas to pay directly to Megaworld via remittance, or depositing money only to official Megaworld Corporation bank accounts. It is discourageg to have payments pass through consultants/agents unless really preferred otherwise.

Below are official Megaworld bank accounts:

Banco De Oro Account

Account Name: Megaworld Corporation
Account #: 123-8002488
Swift Code: BNORPHMM
Branch address: G/F MME Bldg., 108 Tordesillas cor Gallardo St. ,Salcedo Village, Makati City

Philippine National Bank Account

ACCOUNT NAME: MEGAWORLD CORPORATION
NEW ACCOUNT NO. Peso Current Account No. 39-076-9000-013
BANK  PHILIPPINE NATIONAL BANK
ROUTING NO. 26003007
SWIFT CODE  PNBMPHMM
BRANCH Makati Avenue Branch
ADDRESS G/F Petron Mega Plaza Bldg. Sen, Gil Puyat Avenue, Makati City, Philippines

 

After remittance, send a copy of the transaction such as receipt, or deposit slip, or forward an online notification of the money transfer for electronic transfers. Your consultant/agent will help you in case you need help.

STEP 5: Confirmation of Reservation and Follow-up instructions from the office

Congratulations! An email confirmation either from your agent or office personnel will be sent.

At this point, you had officially reserved a unit(s) from Iloilo Business Park at least for thirty days. Your monthly amortization shall start the following month.

Your agent and office staff will help expedite and will guide you all throughout the process. Payment schedule will also be provided and constant support is always present if needed.

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