Frequently Asked Questions

 

 FAQs

 1. I am interested in a Buena Mano property and I want to know more. How do I get in touch with the Buena Mano Sales Team or one of your Sales Advisors?
 
You can reach us thru our Customer Hotline at +63(2) 845-5800 or email us at BUENAMANO@bpi.com.ph. You can also visit our Makati Main Office with business address at G/F, The Enterprise Center Tower 2, Paseo de Roxas corner Dela Rosa St., Makati City, Philippines 1226; or any of our provincial business centers (Official business days/hours: Mondays to Fridays, 8.30am-5.30pm). 

           For our complete PSL directory and Sales Advisors’ listing Click here

Visit your chosen property any time of the day, any day of the week. Most of our properties have caretakers who can assist you during your visit (except for condos and vacant subdivision lots which are under the watch of the respective condo/subdivision homeowners’ association). For condos, you have to coordinate first with our office on where to get the keys for your easy access.

Just a word of advice... Since our properties sell fast, we advise you to call us first before your scheduled visit just to check the important details of the property and if it is still available for sale. You can also verify from us on the best way to get to the property.


 2. I have made my choice, how do I purchase a property?

If you like a particular Buena Mano property and have already decided to buy, submit to us your Offer to Purchase right away!

 To download our official ‘Offer-to-Purchase’ form. Click here
All offers must be submitted in Property Sales and Leases’ official Offer to Purchase form, duly filled-in and signed (front and back). Offers maybe submitted directly to our Main Office/Business Centers (walk-in), or sent through fax at +63(2) 816-9967, or email at BUENAMANO@bpi.com.ph with attached scanned copy of the signed Offer to Purchase form (also, front and back) to the Customer Care Desk of Property Sales and Leases.
When the form is submitted via fax or email, the date and time stamped on the fax or email will be considered the official date and time of receipt.

Please note that even when an Offer is duly submitted, this is on a ‘first-come, first-served’ and ‘as-is, where-is’ basis, and still subject to the property’s availability. All Offers received are also subject to Management’s final approval.

NO RESERVATION FEE REQUIRED UPON SUBMISSION OF OFFER TO PURCHASE!


3. What do you mean by the ‘first-come, first-served’ policy?

‘First-come, first-served’ is our service policy whereby all Offers to Purchase are attended to in the order that they are received without other biases and preferences. This policy shall apply only to received Offers which are equal to or higher than our asking price/selling price.


4. What do you mean by the ‘AS IS, WHERE IS’ policy?

‘As-is, where-is,’ pertains to the existing physical, documentation, and legal conditions of our properties at the time of submission of a buyer’s Offer to Purchase. As it is also our service commitment to fully disclose all material property information to every property buyer, we strongly encourage you to visit and inspect your property of choice. Property Sales and Leases (PSL) and your Buena Mano Sales Team, to the best of our knowledge, is not aware of any lien, encumbrance, or other hidden technical/legal conditions or defects affecting our properties other than those disclosed (if any). By submitting your formal Offers, all buyers therefore confirm to assume responsibility for such special concerns and will forever relieve PSL and your Buena Mano Sales Team for any actual or perceived loss, damages, and/or other subsequent liability arising from the sale.


5. What are Green Tags, Yellow Tags, and Red Tags?

Green Tags, Yellow Tags, and Red Tags are the official branding/classification for our Buena Mano properties for sale (our properties are color-coded for your easy reference):

a. GREEN TAG properties are real estate properties whose Titles and Tax Declarations are duly consolidated and transferred under the name of the bank which foreclosed the properties. The bank holds possession of the foreclosed properties with their authorized caretakers or security guards (particularly those with improvements), and may be visited or inspected anytime.
b. YELLOW TAG properties are real estate properties with any of the following special concerns: (1) Titles and Tax Declarations are still in process of transfer to the name of the bank which foreclosed the properties; (2) Titles are already under the name of the bank which foreclosed the properties but the properties are still occupied by the former owners, tenants, or illegal occupants; or (3) there are property documents that still need to be updated.
c. RED TAG properties are real estate properties specifically with pending court cases (under litigation) filed by the previous owners against the bank which foreclosed the properties. Titles of these properties are either with legal annotations, adverse claims, or lis pendens.

Browse our property listings now! Click here


6. Aside from real estate properties, what are your other properties for sale? Do you also sell cars? How about property leases?

Yes, we sell foreclosed vehicles involving a variety of brands and series. Our Buena Mano Auto Sales Team conducts regular ‘Car Bidding Bonanzas’ (auction/sealed bidding) for these cars. On occasions, we also offer great deals on chattels, machineries, and equipment.

For more details and schedule of our upcoming Car Bidding Bonanza,
please contact our Auto Sales Advisors Click here

We also lease out select office and business spaces located in key commercial areas nationwide.

 For our property listings and your other lease inquiries, Click here


7. What are the payment modes available when I purchase a Buena Mano property?

Payment schemes for your property purchase may be:
• Cash   
• Bank Loan/Financing - Through BPI, BPI Family Savings Bank, BPI Direct Savings Bank, or any other major domestic bank
- Terms are subject to separate credit approval by the lending bank


8. What are the related taxes and fees that go with a real estate transaction?

Once you submit an Offer to our Customer Care Desk, you will be informed if your offer has been accepted. A Letter Advise containing the terms and conditions of the sale (with the following information) shall be sent to you:
a. Selling Price
b. Property Address/Description
c. Schedule of payment/s to complete the purchase price

After you sign the Letter Advise, which signifies that you agree with all the terms and conditions of the sale, you must send us a copy for our official files and as our basis to reserve the property for you until you pay the minimum Ten Percent (10%) Earnest Money on or before the date stated therein. If the Earnest Money is not paid on the due date, then the property will be offered to other interested buyers.

   The following are the related taxes and fees due to the National Government of the
Philippines in a real estate transaction:

For the account of the Seller:
• Capital Gains Tax/Creditable Withholding Tax:
- 6% of Selling Price or Zonal Value or Fair Market Value, whichever is higher  
• Business Tax (if applicable)

For the account of the Buyer:
• Documentary Stamp Tax:
- 1.5% of Selling Price or Zonal Value or Fair Market Value, whichever is higher
• Transfer Tax
- Rate depends on the location of property, ranging from 0.25% to 0.75% of Selling Price or Zonal Value, whichever is higher) 
• Registration Fees
- Graduated rate based on Selling Price (i.e., P5,646.00 for Selling Price of P1.0 Million) 
• Real Estate Taxes
- Pro-rated for the remaining months of the year based on date of full payment

Note: The National Government may impose other taxes and fees that are not covered by the above schedule.


9. I am a licensed real estate broker, how do I become an accredited Buena Mano broker to be able to sell your properties?

We are most happy to welcome you in our exclusive Buena Mano Broker’s Circle, but you must first submit and comply our broker’s accreditation requirements so we can immediately process your accreditation.

For more information, please visit our Broker’s Corner  Click here

WEDNESDAYs ARE BUENA MANO BROKERS’ DAY IN PROPERTY SALES AND LEASES!

Please visit us and discover our Buena Mano Brokers Incentive Program for 2011 and other exciting surprises that await you.

For our complete PSL directory and Sales Advisors’ listing Click here


10. How do I receive regular updates on your latest property offers and promos?

Please subscribe to our mailing list by emailing us at BUENAMANO@bpi.com.ph. Or visit us at our Makati Main Office with business address at G/F, The Enterprise Center Tower 2, Paseo de Roxas corner Dela Rosa St., Makati City, Philippines 1226; or any of our provincial business centers (Official business days/hours: Mondays to Fridays, 8.30am-5.30pm). Please also regularly visit our eBuena Mano website for the latest news, Broker’s and marketing events, hot deals, and other promos.

           For our complete PSL directory and Sales Advisors’ listing Click here