A pre-selling project refers to properties that are offered for sale by developers before they are completed or constructed. Essentially, it means purchasing a property that is still in the planning or construction phase.

Buying a pre-selling property often comes with several advantages. Firstly, pre-selling properties are typically sold at lower introductory prices compared to completed units. Secondly, it allows buyers to have more flexibility in choosing their preferred location, unit size, and floor plan. Additionally, investing in pre-selling properties may offer potential capital appreciation once the development is completed.

Foreign nationals can generally acquire real estate in the Philippines through certain modes such as through a condominium unit, a corporation, or a lease agreement. However, there are restrictions on land ownership by foreigners, and it's crucial to consult with a lawyer to ensure compliance with relevant laws and regulations.

Buyers of pre-selling properties are protected under Philippine laws and regulations. The Housing and Land Use Regulatory Board (HLURB) oversees real estate developers and ensures compliance with regulations. Buyers should ensure that the developer is registered with HLURB and that the project has proper permits and licenses. Additionally, buyers are entitled to certain rights, such as the right to information, right to rescission, and the right to refund as stipulated by law in case of non-compliance or breach of contract by the developer. It's advisable to seek legal advice before signing any agreements to fully understand your rights and obligations.

A condominium is a type of real estate property where individuals own their individual units and jointly own common areas and facilities with other unit owners.

In a condominium, you own your unit but share ownership of common areas, while in a house, you own the entire property and land it sits on.

Benefits include amenities like pools and gyms, security features, and maintenance services, as well as potential for investment and convenience in urban areas.

Fees may include reservation fees, down payments, monthly amortizations, taxes, and association dues for upkeep of common areas.

A reservation fee reserves the unit for a certain period, while a down payment is a percentage of the total price paid upfront.

Consider proximity to work, schools, hospitals, transportation, amenities, and the neighborhood's safety and development potential.

No, this is not entirely true. In the Philippines, under Republic Act No. 4726, also known as the Condominium Act, there is no provision stating that condominium units automatically revert to the developer after 50 years. Instead, the law allows condominium corporations to extend their existence beyond 50 years through a process called reconstitution.