A simple, informal document expressing your interest — your offer price and proposed payment terms. Generally not legally binding on either side (except sometimes an exclusivity clause, if included); either party can still walk away.
More formal than an LOI, and this is where things start to bind: once the seller accepts it, both sides are generally committed to those terms. Read it as carefully as you'd read the Contract to Sell — by the time you're signing this, you should already mean it.
Mainly used when buying directly from a developer. You disclose personal and financial details so the developer can assess your capacity to pay — similar in spirit to what a bank asks for a loan application.
You pay a fee to hold the unit under your name, commonly for around 30 days (this varies by developer/seller, not a fixed legal period). The two are worth distinguishing:
Signed after the initial down payment, usually around 30 days in. This is the core agreement — the seller promises to sell, you promise to buy, but the title stays with the seller until you've paid in full. Review every clause on taxes, penalties, and what happens if you default on a payment, before it gets notarized. (See our terms guide for how this differs from a Deed of Absolute Sale.)
If you're financing through a bank, this is the bank's written confirmation to the developer that your loan is approved and the bank will cover the remaining balance. (Commonly called a "loan guarantee" informally, but "Letter of Guarantee" is the actual industry term — every detail in it needs to match your Contract to Sell exactly, including both parties' names.)
Executed once the property is fully paid. This is the document that legally transfers ownership and is the basis for issuing a new title in your name.
The actual proof of ownership, issued after the DOAS is processed at the Registry of Deeds: a Transfer Certificate of Title (TCT) for a house-and-lot, or a Condominium Certificate of Title (CCT) for a condo unit.
Requested from the local Assessor's Office once you have the new title — you'll submit a certified copy of the title plus photos of the property. This sets the assessed value used to compute your annual real property tax going forward.