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    AAF007 CORPurchaseAAInstallment V03

    Uploaded by

    Jerson Obo
    This document outlines the basic requirements and required documents for the purchase of acquired assets through a long term installment sale with Pag-IBIG Fund. The basic requirements upon purchase application include submitting forms with buyer and co-buyer information and photos, proof of income, valid identification, a notarized certificate of acceptance, and payment of processing fees. The required documents upon purchase approval include payment of any required equity and a notarized deed of conditional sale. The document also lists additional requirements that may apply, such as documents needed from a buyer's representative or for overseas Filipino workers.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    AAF007 CORPurchaseAAInstallment V03

    Uploaded by

    Jerson Obo
    135 views2 pages
    This document outlines the basic requirements and required documents for the purchase of acquired assets through a long term installment sale with Pag-IBIG Fund. The basic requirements upon purchase application include submitting forms with buyer and co-buyer information and photos, proof of income, valid identification, a notarized certificate of acceptance, and payment of processing fees. The required documents upon purchase approval include payment of any required equity and a notarized deed of conditional sale. The document also lists additional requirements that may apply, such as documents needed from a buyer's representative or for overseas Filipino workers.

    Original Description:

    CORPurchaseAAInstallment

    Original Title

    AAF007_CORPurchaseAAInstallment_V03

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    © © All Rights Reserved

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    This document outlines the basic requirements and required documents for the purchase of acquired assets through a long term installment sale with Pag-IBIG Fund. The basic requirements upon purchase application include submitting forms with buyer and co-buyer information and photos, proof of income, valid identification, a notarized certificate of acceptance, and payment of processing fees. The required documents upon purchase approval include payment of any required equity and a notarized deed of conditional sale. The document also lists additional requirements that may apply, such as documents needed from a buyer's representative or for overseas Filipino workers.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    135 views2 pages

    AAF007 CORPurchaseAAInstallment V03

    Uploaded by

    Jerson Obo
    This document outlines the basic requirements and required documents for the purchase of acquired assets through a long term installment sale with Pag-IBIG Fund. The basic requirements upon purchase application include submitting forms with buyer and co-buyer information and photos, proof of income, valid identification, a notarized certificate of acceptance, and payment of processing fees. The required documents upon purchase approval include payment of any required equity and a notarized deed of conditional sale. The document also lists additional requirements that may apply, such as documents needed from a buyer's representative or for overseas Filipino workers.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 2

    HQP-AAF-007

    (V03, 05/2018)

    CHECKLIST OF REQUIREMENTS FOR PURCHASE OF ACQUIRED ASSETS


    (Thru Long Term Installment Sale)

    BASIC REQUIREMENTS (UPON PURCHASE APPLICATION)

    1. Buyer’s Information Sheet with recent ID photos of Buyer (2 copies, HQP-AAF-116)


    2. Co-Buyer’s Information Sheet with recent ID photos of Co-Buyer (2 copies, HQP-AAF-117), if applicable
    3. Proof of Income (see details at the back)
    4. One (1) valid ID (Photocopy, back-to-back) of Principal Buyer and Co-Buyer, if applicable
    5. Notarized Certificate of Acceptance (HQP-AAF-145)
    6. Payment of processing fee and 1-year advance insurance premium

    REQUIRED DOCUMENTS (UPON PURCHASE APPROVAL)

    1. Payment of required equity in case the approved amount for installment sale is not sufficient to cover
    the net selling price of the property
    2. Notarized Deed of Conditional Sale (HQP-AAF-141) between Pag-IBIG Fund and the Buyer
    For other applicable requirements, please refer at the back portion of the form.
    Pag-IBIG Fund reserves the right to request additional documents to facilitate credit and background investigation.

    HQP-AAF-007
    (V03, 05/2018)

    CHECKLIST OF REQUIREMENTS FOR PURCHASE OF ACQUIRED ASSETS


    (Thru Long Term Installment Sale)

    BASIC REQUIREMENTS (UPON PURCHASE APPLICATION)

    7. Buyer’s Information Sheet with recent ID photos of Buyer (2 copies, HQP-AAF-116)


    8. Co-Buyer’s Information Sheet with recent ID photos of Co-Buyer (2 copies, HQP-AAF-117), if applicable
    9. Proof of Income (see details at the back)
    10. One (1) valid ID (Photocopy, back-to-back) of Principal Buyer and Co-Buyer, if applicable
    11. Notarized Certificate of Acceptance (HQP-AAF-145)
    12. Payment of processing fee and 1-year advance insurance premium

    REQUIRED DOCUMENTS (UPON PURCHASE APPROVAL)

    3. Payment of required equity in case the approved amount for installment sale is not sufficient to cover
    the net selling price of the property
    4. Notarized Deed of Conditional Sale (HQP-AAF-141) between Pag-IBIG Fund and the Buyer
    For other applicable requirements, please refer at the back portion of the form.
    Pag-IBIG Fund reserves the right to request additional documents to facilitate credit and background investigation.
    HQP-AAF-007
    (V03, 05/2018)

    INCOME DOCUMENTS: ADDITIONAL REQUIREMENTS (if applicable only)


    For Locally Employed, any of the following: Upon Application
    a. Notarized Certificate of Employment and Compensation (CEC), indicating For Buyer’s Representative
    the gross monthly income and monthly allowances or monthly monetary
    benefits received by the employee  Notarized Special Power of Attorney (SPA) executed by principal buyer to
    b. Latest Income Tax Return (ITR) for the year immediately preceding the date grant authority on his representative.
    of application, with attached BIR Form No. 2316, stamped received by the  One (1) valid ID (photocopy. Back-to-back) of buyer’s representative.
    BIR For OFW members
    c. Certified One (1) Month Payslip, within the last three (3) months prior to  Special Power of Attorney (SPA) notarized prior to date of departure. For OFW
    date of application member abroad, a SPA notarized by a Philippine Consular Officer, or SPA
    NOTE: For government employees, the Certified One (1) Month Payslip, notarized by a local notary (of the country where the member is working) but
    within the last three (3) months prior to date of application, must duly authenticated by the Philippine Consulate.
    be submitted together with CEC or ITR.  The Fund may also require any or a combination of the following documents:
    For Self Employed, any of the following Proof/s of Income: - Payslip indicating income received and period covered
    a. ITR, Audited Financial Statements, and Official Receipt of tax payment from - Valid OWWA Membership Certificate
    bank supported with DTI Registration and Mayor’s Permit/Business Permit - Overseas Employment Certificate
    b. Commission Vouchers reflecting the issuer’s name and contact details (for - Passport with appropriate visa (Working Visa)
    the last 12 months) - Residence card/permit (permit to stay indicating work as the purpose)
    c. Bank Statements or passbook for the last 12 months (in case income is - Bank remittance record
    sourced from foreign remittances, pensions, etc.) - Professional License issued by Host Country/Government
    d. Copy of Lease Contract and Tax Declaration (if income is derived from NOTE: If documents are in foreign language/s, English translation is required.
    rental payments)
    Insurance Coverage
    e. Certified True Copy of Transport Franchise issued by appropriate
    government agency (LGU for tricycles, LTFRB for other PUVs) a. Health Statement Form (Medical Questionnaire)
    f. Certificate of Engagement issued by owner of business  For borrowers over 60 years old
    g. Other document that would validate source of income  For borrowers up to 60 years old, if amount of installment sale is over P2.0
    For Overseas Filipino Workers (OFW), any of the following: M to P6.0 M
    a. Employment Contract b. Health Statement Form (Medical Questionnaire) and Copy of the result of
     Employment Contract between employee and employer; or medical examination conducted prior to assignment overseas as required by
     POEA Standard Contract the employment agency
    b. Certificate of Employment and Compensation (CEC)  For OFW borrowers over 60 years old
     CEC written on the Employer/Company’s official letterhead; or
     CEC signed by employer (for household staff and similarly situated
    employees) supported by a photocopy of the employer’s ID or passport
    c. Income Tax Return filed with Host Country/Government
    NOTE: If documents are in foreign language/s, English translation is
    required.

    HQP-AAF-007
    (V03, 05/2018)

    INCOME DOCUMENTS:
    ADDITIONAL REQUIREMENTS (if applicable only)
    For Locally Employed, any of the following:
    Upon Application
    d. Notarized Certificate of Employment and Compensation (CEC), indicating
    the gross monthly income and monthly allowances or monthly monetary For Buyer’s Representative
    benefits received by the employee  Notarized Special Power of Attorney (SPA) executed by principal buyer to
    e. Latest Income Tax Return (ITR) for the year immediately preceding the date grant authority on his representative.
    of application, with attached BIR Form No. 2316, stamped received by the  One (1) valid ID (photocopy. Back-to-back) of buyer’s representative.
    BIR
    For OFW members
    f. Certified One (1) Month Payslip, within the last three (3) months prior to
    date of application  Special Power of Attorney (SPA) notarized prior to date of departure. For OFW
    NOTE: For government employees, the Certified One (1) Month Payslip, member abroad, a SPA notarized by a Philippine Consular Officer, or SPA
    within the last three (3) months prior to date of application, must notarized by a local notary (of the country where the member is working) but
    be submitted together with CEC or ITR. duly authenticated by the Philippine Consulate.
    For Self Employed, any of the following Proof/s of Income:  The Fund may also require any or a combination of the following documents:
    h. ITR, Audited Financial Statements, and Official Receipt of tax payment from - Payslip indicating income received and period covered
    bank supported with DTI Registration and Mayor’s Permit/Business Permit - Valid OWWA Membership Certificate
    i. Commission Vouchers reflecting the issuer’s name and contact details (for - Overseas Employment Certificate
    the last 12 months) - Passport with appropriate visa (Working Visa)
    j. Bank Statements or passbook for the last 12 months (in case income is - Residence card/permit (permit to stay indicating work as the purpose)
    sourced from foreign remittances, pensions, etc.) - Bank remittance record
    k. Copy of Lease Contract and Tax Declaration (if income is derived from - Professional License issued by Host Country/Government
    rental payments) NOTE: If documents are in foreign language/s, English translation is required.
    l. Certified True Copy of Transport Franchise issued by appropriate Insurance Coverage
    government agency (LGU for tricycles, LTFRB for other PUVs) a. Health Statement Form (Medical Questionnaire)
    m. Certificate of Engagement issued by owner of business
    n. Other document that would validate source of income  For borrowers over 60 years old
    For Overseas Filipino Workers (OFW), any of the following:  For borrowers up to 60 years old, if amount of installment sale is over P2.0
    d. Employment Contract M to P6.0 M
     Employment Contract between employee and employer; or b. Health Statement Form (Medical Questionnaire) and Copy of the result of
     POEA Standard Contract medical examination conducted prior to assignment overseas as required by
    e. Certificate of Employment and Compensation (CEC) the employment agency
     CEC written on the Employer/Company’s official letterhead; or  For OFW borrowers over 60 years old
     CEC signed by employer (for household staff and similarly situated
    employees) supported by a photocopy of the employer’s ID or passport
    f. Income Tax Return filed with Host Country/Government
    NOTE: If documents are in foreign language/s, English translation is
    required.

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