Can an OFW buy a property while outside the Philippines?
Yes, an OFW (Overseas Filipino Worker) can buy a property while outside the country.
Purchase with the help of his/her SPA or Special Power of Attorney.
An OFW can purchase property while he/she is outside the Philippines if he/she nominates a relative or someone he/she trusts to be his/her representative in behalf of his/her absence during purchase.
Who can be nominated as
They can nominate their spouse, siblings, parents or children with legal age with income to represent
What happens during the transaction?
Since you are outside of the country, your SPA will act on your behalf. Your SPA will do the site appreciation or site tour. They will give feedback to you about the property that you wish to purchase. Site visits are important because that is your chance to feel the house, the location and to feel if the house you are aiming for is really meant for you. Your SPA will sign all the documents under your name on your behalf. It will assume that whatever he/she agreed on is also your decision. Thus it is best to choose your SPA wisely. All the legal documents in your purchase will be under your name and your SPA’s signature will appear on it.
What you should do?
You can assign a SPA before you leave the country and have it notarized locally. But if you are already outside the country, you need to have the Special Power of Attorney consularized at the Philippine Embassy in the country you are in. You may need to contact the Philippine embassy in that country for schedule.
As an OFW, You can also take advantage of attending Philippine Property Roadshows
During roadshows you will be able to meet property developers, agents and brokers to discuss with you the process of purchasing a property in the Philippines. You can sign the documents there and nominate a SPA in the Philippines to continue the process on your behalf.
Filipino Homes runs Philippine Property Roadshows across the globe annually. Visit our Facebook fan page for announcements and updates for the schedules of Philippine Property Roadshows of the countries you are in. Or you may contact your Filipino Homes agents for the schedules.
Charmaine Xy-Za Yape is a founding member and a blogger of Filipino Homes. She is also a PRC and HLURB Registered Real Estate Professional and a Licensed Financial and Investment Advisor. She is an International Realtor member. She is a Hubspot certified in Inbound Marketing. She is also the co-founder of Iligan Bloggers Society, Inc.