Philippine Real Estate Question: I purchased a house & lot in Bacolod City in 2007. We did not get into contract signing w/this developer. Upon my payment of the reservation fee, I was only given the quotation sheet where I signed and the developer’s rep signed. I have fully paid the property in July this... ...read the full story
The two most pressing questions an excited or anxious buyer would ask are: 1. When will the project be completed? 2. What are the facilities and amenities that go with my purchase of a unit? The project must be completed within one year from the date of the issuance of a License to Sell for the project. The HLURB may, however, fix a different period... ...read the full story
These questions came from the HLURB site: Where can a prospective buyer check whether a subdivision project has a Certificate of Registration and License to Sell He can check it with the Regional Office Of the HLURB which has jurisdiction of the place where the project is located. What is the remedy of a buyer to recover his payment upon knowing that... ...read the full story
If the sale is on a per square meter basis and the area turns out to be smaller, the buyer is entitled to a reduction of the price. In the same way the area turns out to be bigger, the buyer should pay for the increase in area. In other case, the buyer may have opt to rescind the contract if he would not have bought the property had he known of... ...read the full story
What is the Basis in the Valuation of a Real Estate Property in the Philippines? The value of the real property will be based on the selling price, fair market value as determined by the Commissioner (zonal value) or the fair market value as shown in the schedule of values of the Provincial or City Assessor, whichever is higher. If there is no zonal... ...read the full story
What rights does a buyer have when it comes to Titles? Read this and be informed how Philippines Real Estate Laws Work: “The buyer of a subdivision lot or condominium unit shall have a right to a clean title of said lot or unit upon the full payment of the purchase price. If the lot or unit is mortgaged, the owner/developer shall redeem... ...read the full story
Capital Gains Tax, according to the BIR in the Philippines: “A tax imposed on the gains presumed to have been realized by the seller from the sale, exchange, or other disposition of capital assets located in the Philippines, including pacto de retro sales and other forms of conditional sale. For Real Properties, it is 6% of the total selling... ...read the full story
Here is Maceda Law or Republic Act 6552 REPUBLIC ACT No. 6552 AN ACT TO PROVIDE PROTECTION TO BUYERS OF REAL ESTATE ON INSTALLMENT PAYMENTS. (Rep. Act No. 6552) Section 1. This Act shall be known as the “Realty Installment Buyer Act.” Section 2. It is hereby declared a public policy to protect buyers of real estate on installment payments... ...read the full story
Thinking of asking help from the bank to finance your mortgage or HDMF (Pag-Ibig)? Here’s a way to determine if indeed your loan will be granted by computing for your maximum loanable amount. This is also useful if you want to know if you will be approved by the financial institution for your loan (qualify). From Real Estate in the Philippines... ...read the full story
Q: As a seller, what is the average waiting period before my home is bought? A: It all depends on a couple of factors. What do you do to prepare your house for sale? How’s it priced? And how is REALTOR going to market your home?® First of all, the house needs to look perfect. It is no longer your home, it’s a product. It’s house for sale. We... ...read the full story
Houses For Sale in the Philippines was built to feature houses in the Philippines worthy of selling to those who work hard for the money they have. It also stemmed from the unfortunate incident we had with buying a property that up to this day, was not turned over to us. Read More
*****
