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  How to Purchase from HGC:

 

  1. Select a property from the published list of available properties for sale.
  2. Prospective buyer should fill-up an Offer to Purchase Form (OPF) and Buyer's Information Sheet (BIS).
  3. Drop the OPF and BIS together with the following documents in the bid box located at the HGC Asset Management and Disposition (AMD) Office, 4th Floor Jade Bldg., #335 Sen. Gil Puyat Ave., Makati City:
  4. For Individuals:

    a. Photocopy of Community Tax Certificate
    b. One 2 X 2 I.D. picture
    c. Proof of Income (Latest ITR, Certificate of Employment and Compensation,
        Certified copy of latest payslip)
    d. Photocopy of Company I.D.

    For Companies/Corporations:

    a. SEC registration, Articles of Incorporation, Business Permit
    b. Audited financial statement for the last 2 years
    c. Board Resolution and Secretary's Certificate

  5. The buyer may attend the opening of bids being held every Monday at the AMD Office.
  6. Evaluation of bids will be undertaken by the HGC Marketing and Sales Office.
  7. HGC will notify the prospective buyer of the approval/disapproval of his/her Offer to Purchase.
  8. Upon receipt of the HGC's Letter of Approval, the buyer should remit the required downpayment within 15 days and sign the Contract to Sell at the HGC AMD Office.

 

FORMS OF PAYMENT

 

1. Cash

    The buyer may opt to pay in cash. Discounts to Cash Purchases are as follows:

    Payment Period
    Discount Rate
    Spot Cash
    15%
    Within 30 days
    10%
    Within 60 days
    6%
    Within 90 days
    3%

 

2. Installment

    The buyer may avail of an installment loan at the HGC subject to the following:

    • Minimum downpayment is 10% of the Contract Price
    • 0% Interest if remaining balance is paid within 12 months.
    • Remaining balance may be paid up to a maximum of 15 years at the following rates:

    For Hard to sell assets:

    SALES PACKAGE

    INTEREST RATE
    ( if paid on due date)

    INTEREST RATE
    ( if paid before due date)
    Up to P 300,000
    6%
    5%
    P 300,001.00 to P2.0M
    9%
    8%
    More than P2.0M
    12%
    11%

    For Regular assets :

    SALES PACKAGE
    INTEREST RATE
    ( if paid on due date)
    INTEREST RATE
    ( if paid before due date)
    Up to P 300,000
    6%
    9%
    P 300,001 to P2.0M
    9%
    12%
    More than P2.0M
    12%
    14%

 

3. Take-Out by Bank/Financial Institution

    The buyer may apply for a housing loan from a bank or any financial institution to settle the balance of the purchase value. A downpayment equivalent to 10% of the purchase value shall be paid to HGC.

     

4. Rent-To-Own

    The buyer may apply for a contract of lease of the property with the option to purchase subject to the following:

    • The lease shall be for a non-renewable period of five (5) years However, the LESSEE can pre-terminate the lease at anytime before the end of the 5 th year of the contract and exercise his option to purchase the property in cash or thru a housing loan from any financial institution;
    • The purchase price and monthly rental fee for the property shall be determined and set by HGC before execution of a Contract of Lease with Option to Purchase;
    • Initial cash out - 2 months advance and 1 month deposit (rental fee) ;and,
    • Payments made (net of penalties & VAT) by the Lessee during the term of the lease shall be applied as downpayment for the purchase of property as follows.
    • Year
      Percentage of Application
      1
      100%
      2
      90%
      3
      80%
      4
      70%
      5
      60%

    • In case the payment credited from the monthly rentals is below the required downpayment , the difference shall be paid by the Lessee in cash.

     

For more information, you may obtain a copy of the Negotiated Rules and Procedures under the revised Disposition Guidelines from the HGC AMD Office.